Tag: US economy
End of the road: will automation put an end to the American trucker?
Americas 2 million truckers have long been mythologised in popular culture. But self-driving trucks are set to lay waste to one of the country’s most beloved jobs and the fallout could be huge. Jeff Baxters sunflower-yellow Kenworth truck shines as bright and almost as big as the sun. Four men clean the glistening cab […]
How about a little accountability for economists when they mess up? | Dean Baker
Dean Baker is co-director of the Centre for Economic and Policy Research. Suppose our fire department was staffed with out-of-shape incompetents who didnt know how to handle a firehose. That would be really bad news, but it wouldnt be obvious most of the time because we dont often see major fires. The fire departments inadequacy […]
US could wait until next summer to raise interest rates, say economists
Surveyed experts predicted last weeks rate rise would be followed by two more next year, not three. The Federal Reserve could wait until at least next summer before raising interest rates again, according to Wall Street economists surveyed by the Financial Times. Expectations that a rate rise last week by the US central bank would […]
US Federal Reserve raises interest rates for second time since 2008 crisis
Fed chairwoman Janet Yellen announced a 0.25% increase in the benchmark rate to 0.50-0.75%, and predicted three further rates increase in 2017. The US Federal Reserve on Wednesday raised interest rates for the first time in a year, and only the second time since the 2008 financial crisis. The US central bank also predicted three […]
Federal Reserve minutes show close call on September interest rate hike
Three central bankers voted in favor of increasing rates amid easing risks of Brexit but experts still expect only one hike this year, after December meeting. The Federal Reserves decision not to increase rates in September was a close call, the minutes released on Wednesday show. When the Federal Open Markets Committee (FOMC) met in […]