Investor’s Business Daily - Economy: In markets, psychology is everything. Once spooked, investors can turn a market rout into a stampede, which can become a full-on panic. That’s why the Fed’s actions over the past two weeks are so important.
Reuters - The U.S. Internal Revenue Service
said on Monday it would begin sending the first of more than
130 million economic stimulus payments on May 2 and expects to
complete the first round of payments by early July.
Reuters - Financial firms face a “new world
order” after a weekend fire sale of Bear Stearns and the
Federal Reserve’s first emergency weekend meeting since 1979,
research firm CreditSights said in a report on Monday.
Reuters - The troubled U.S. housing sector
delivered more gloomy news on the flagging economy on Tuesday,
while evidence of inflation pressures continued to lurk in the
producer pipeline.
AFP - US housing starts fell 0.6 percent in February, the government reported Tuesday in a sign of more pain for the troubled real estate market.
Reuters - U.S. Treasury Secretary Henry
Paulson on Tuesday described the economy as being in “sharp
decline,” the closest he has come yet to conceding an
election-year recession has set in.
AP - Wholesale prices rose again in February as another hefty increase in energy costs offset falling food prices. Outside of food and energy, prices shot up at the fastest pace in 15 months.
AFP - The US economy has turned down sharply, US Treasury Secretary Henry Paulson acknowledged Tuesday.
Reuters - U.S. home building projects started
in February fell by 0.6 percent to a higher-than-expected
annual rate while building permit activity, a sign of future
construction plans, dropped off 7.8 percent, a government
report on Tuesday showed.
Reuters - U.S. Treasury Secretary Henry
Paulson said on Tuesday the U.S. economy had turned down
sharply but declined to label the situation a recession.