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The 1 Percent Solution

The US economy is rolling along at present because interest rates are so low. The Federal Reserve slashed the target range for the federal funds rate to 1.5-1.75 percent during its October meeting, the third rate cut so far this year, amid muted inflation pressures and concerns about the economic outlook. But at the same […]

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Trump ready to claim Obama record on economy

If paychecks swell in 2017, Donald Trump will claim the credit, despite the fact that wage growth first began picking up in 2015 (see chart). During the campaign, Mr Trump cast doubt on official labour-market statistics, saying that they painted a rosy picture of the economy. Next year he will probably champion them. With the average […]

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Barack Obama’s economic record: End-of-term report

Excerpts from The Economist magazine. NOT since 1933 had an American president taken the oath of office in an economic climate as grim as it was when Barack Obama put his left hand on the Bible in January 2009. The banking system was near collapse, two big car manufacturers were sliding towards bankruptcy; and employment, […]