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Tag Archives: recovery

Bernanke notes economy better than expected

WASHINGTON — Chairman Ben Bernanke told lawmakers Wednesday that the economy has performed better in recent months than the Federal Reserve had expected. If the trend continues, he said the Fed might have to reassess its outlook for a slow ...

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Fed minutes: Members divided over more bond buys

WASHINGTON — The Federal Reserve isn’t about to launch another bond-buying program to boost the economy — at least not anytime soon. While some Fed officials are open to such a move, according to minutes of the Fed’s Jan. 24-25 ...

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Unemployment rate hits 8.3 pct. after hiring burst

WASHINGTON — In the most impressive surge for the job market since early last year, the United States added 243,000 jobs in January, far more than economists expected. The unemployment rate dropped to 8.3 percent, the lowest in three years. ...

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Survey: Home prices down in most major U.S. cities

WASHINGTON — U.S. home prices fell in most major cities for the second straight month, further evidence that the housing recovery will be bumpy and weigh on the broader economy in 2012. The Standard & Poor’s/Case-Shiller index released Tuesday showed ...

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Economy’s spring slump could last through summer

WASHINGTON — The economy’s spring slump appears to be extending into the summer, according to a slew of mixed data released Thursday. Layoffs are rising. Manufacturing activity in the Northeast expanded only slightly in July after contracting in June. Economic ...

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Wells Fargo turns to cost cuts as recovery stalls

NEW YORK — The nation’s largest mortgage lender is turning to cost-cutting as the economy sputters and the grinding housing slump means waning profits from new mortgages. Wells Fargo & Co. on Tuesday posted a 30 percent leap in second-quarter ...

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Toyota expects annual profit to fall 31 percent

TOKYO — Toyota forecasts its annual profit to dive 31 percent, hammered by production disruptions from parts shortages, but its outlook Friday projects a robust recovery from the earthquake and tsunami in coming months. Toyota Motor Corp. had not given ...

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Home sales dropped in April, foreclosures declined

WASHINGTON — Fewer people purchased previously occupied homes in April. Activity among first-time homebuyers increased and foreclosure sales declined, but those factors weren’t enough to signal a recovery in the weak housing market. Sales of previously occupied homes fell 0.8 ...

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