Consumers upped their borrowing in March
BY: Associated Press
POSTED: May 7, 2012
Tags: auto loans, borrowing, consumers, credit cards, Economy, employees, employers, great recession, loans, student loans
WASHINGTON — U.S. consumers swiped their credit cards more often in March and took out more loans to attend school, driving overall borrowing up by the most in more than a decade. Total consumer borrowing rose $21.4 billion in March, the Federal Reserve said Monday. That’s the seventh straight monthly increase and the largest since [...]
Federal spending helping state’s economy 
BY: Tom Linthicum
POSTED: April 30, 2012
Tags: Anirban Basu, BRAC, Development, economist, Economy, federal spending, maryland, Maryland Economic Development Association, MEDA conference
CAMBRIDGE — Maryland’s recovery gained momentum during the last year largely on the strength of increased federal spending and BRAC-related development, a leading economist told state and local economic development officials gathered here Monday. While much of the news was positive, Anirban Basu warned members of the Maryland Economic Development Association that uncertainties associated with [...]
Wildlife caused $10M in Md. crop losses last year
BY: Associated Press
POSTED: April 30, 2012
Tags: crops, farmers, losses, maryland, u.s. department of agriculture, wildlife
ANNAPOLIS — Maryland farmers say wildlife caused an estimated $10 million in crop losses last year. The estimate was released Monday by the U.S. Department of Agriculture’s Maryland field office in Annapolis. Deer were blamed for more than three-quarters of the damage, and groundhogs and geese were blamed for most of the rest. Losses were [...]
U.S. growth slowed to 2.2 percent in first quarter
BY: Associated Press
POSTED: April 27, 2012
Tags: budget deficit, businesses, commerce department, consumers, Economy, gas prices, Government, great recession, gross domestic product, growth, hiring, investment, job, spending
WASHINGTON — The U.S. economy grew more slowly in the first three months of this year. Governments spent less, and businesses cut back on investment. But consumers spent at the fastest pace in more than a year. The result suggests that the economy will continue to expand, slowly but steadily. The Commerce Department estimated Friday [...]
Report: Area needs more ‘quality jobs’
BY: Shane Doyle
POSTED: April 26, 2012
Tags: Anirban Basu, Brookings Institution, d.c., growth, income, industry, jobs, low-wage, maryland, report, richard clinch, Sage Policy Group Inc., The Jacob France Institute at the University of Baltimore, washington
Economic development in the Baltimore metropolitan area needs to focus on creating “quality jobs” and cultivating a skilled workforce, areas that have been lacking, a report released Thursday said. The report by the Washington, D.C.-based Brookings Institution said that faster growth in industries with low-wage jobs than in industries with mid- to high-wage jobs, and [...]
Bernanke says more Fed action is possible
BY: Associated Press
POSTED: April 25, 2012
Tags: Ben Bernanke, Economy, europe, federal open market committee, federal reserve, financial markets, inflation, interest rate, quantitative easing, recovery, Stocks, treasury bonds, Unemployment
WASHINGTON — Federal Reserve Chairman Ben Bernanke left open the possibility Wednesday of further Fed action to stimulate the economy. Speaking at a news conference, Bernanke walked a fine rhetorical line: He signaled that the Fed would act more aggressively to reduce unemployment if needed — but not at the cost of high inflation. Bernanke [...]
Treasury yields unchanged as investors wait
BY: Associated Press
POSTED: April 22, 2012
Tags: Economy, investors, new york, stock exchange, treasury, united states, yield
NEW YORK — Treasury prices took a breather Friday after rising all week. Prices and yields were relatively flat. Investors weren’t ready to abandon the safety of U.S. Treasury bonds even after an optimistic economic survey from Germany, which sent stock markets higher in Europe and in the U.S. That’s because Spain and Italy’s 10-year [...]
National picture shows jobs slowdown
BY: Associated Press
POSTED: April 22, 2012
Tags: Business, decrease, Economy, jobs, slowdown, Unemployment, united states
WASHINGTON — Fewer U.S. states reported job gains in March, reflecting slower hiring nationwide. The more sluggish job growth coincides with more people seeking unemployment benefits in the past month. The trends suggest that hiring could slow in coming months. Job gains were reported in 29 states last month, the Labor Department said Friday. That’s [...]
After 4-month surge, gas prices start falling
BY: Associated Press
POSTED: April 20, 2012
Tags: automobiles, Economy, falling, gasoline, oil, oil price information service, prices, united states
NEW YORK — The worst is over, for now. Gasoline prices are starting to fall. After a four-month surge pushed gasoline to nearly $4 per gallon in early April, drivers, politicians and economists worried that gasoline prices might soar past all-time highs, denting wallets, angering voters and dragging down an economy that is struggling to [...]
Bernanke defends Fed response to financial crisis
BY: Associated Press
POSTED: April 13, 2012
Tags: american international group, bailout, bear stearns, Ben Bernanke, central bank, Economy, federal reserve, financial crisis, financial system
WASHINGTON — Chairman Ben Bernanke said Friday that the Federal Reserve was left with few good options when it stepped in to shore up the largest U.S. financial institutions during the 2008 crisis. Bernanke defended the central bank’s actions to support insurance giant American International Group and help with the sale of investment bank Bear [...]
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