US Economy

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Dorms are filling up, classes are starting, and Frisbees are flying above quads at colleges and universities across the country. But these familiar seasonal patterns don’t reflect how a growing number of students are starting the year. More and more older Americans are heading back to school, often part time or in the evenings, and …

Source: Robert Simons

Park City, Utah’s most popular ski resort is a mountain divided. The top—where the ski runs are—is owned by one company. The bottom—where public parking and the lifts start—is owned by another. Currently neither company is allowing the other access to its property. Because of this legal spat over big bucks and white powder, it’s …

CBO: U.S. economy forecast to grow by 1.5 percent in 2014

The Congressional Budget Office predicts the economy will grow by just 1.5 percent this year, far below White House forecasts.

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L.A Mayor Eric Garcetti on election day, May 201, 2013.

Los Angeles may soon be implementing one of the highest minimum wages in the country, at least if the city’s mayor has his way. The Los Angeles Times reports that Mayor Eric Garcetti is expected to announce on Labor Day a three-year plan to implement a $13.25 minimum hourly wage. That dollar figure would receive annual inflation-based increases, the paper …

Quake coverage

Early estimates put the damage from the Napa earthquake as high as $1 billion. If true, it could be one of the costliest earthquakes ever in the U.S. But as Mary Thompson reports, millions of California homeowners don’t have earthquake insurance, putting many of them on very shaky ground.

Stephen Lam | Reuters
An associate winemaker of Bouchaine Vineyards, surveys fallen wine barrels after a 6.0 earthquake in Napa, California August 24, 2014.

When a 6.0 magnitude earthquake struck Napa early Sunday, it caused significant damage to local businesses connected to the wine business. At Henry Hill & Company, a bonded wine warehouse, a roof caved in and sent full barrels of high-priced wine tumbling to a concrete floor below. “We’re wading around in a sea of Cabernet,” …

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A Walgreens store on June 19, 2012 in San Francisco, California.

Slowing economy? Not in San Francisco! I just returned from a week in the Bay Area, including a visit to Sonoma in wine country Thursday (where I missed the earthquake by a mere two days). The impact of the weekend earthquake has yet to be fully absorbed; nonetheless, during my visit I noted some interesting trends …

Tim Boyle | Bloomberg | Getty Images
A worker making parts for commercial coffee grinding equipment at the Modern Process Equipment manufacturing facility in Chicago.

U.S. economic activity expanded at a rate above its historical trend, a closely watched gauge issued by the Chicago Federal Reserve said on Monday. The Chicago Fed’s National Activity Index rose to 0.39 in July, up from 0.21 percent in the previous month. Any figure above zero indicates the economy is expanding faster than its …

Profiting from California’s drought

Having a green lawn in the middle of drought-ridden California is becoming big business for some small companies.

Price Chambers | Bloomberg | Getty Images
Mount Moran in Grand Teton National Park is seen through a window at the Jackson Lake Lodge in Moran, Wyoming.

The Federal Reserve holds its annual meeting in Jackson Hole this year with substantial questions about the outlook for the labor market, inflation and the path of interest rates. Close attention will be paid to the Friday morning speech by Fed Chair Janet Yellen—her first at Jackson Hole as head of the central bank—who will focus …

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Federal Reserve Board Chairwoman Janet Yellen testifies before the Senate Banking, Housing and Urban Affairs Committee July 15, 2014 in Washington.

Some members of the Federal Reserve’s Open Market Committee want to make a “relatively prompt” rate hike based on the economy’s progress, according to the minutes of the committee’s last meeting. But the minutes, released Wednesday, also showed that most members agreed more data was needed to move up the schedule of rate hikes. “Many …

Raising a kid will cost you $245K

A new government report says that raising a child costs an average of about $245,000 and that’s not including college.

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An oil-well site outside Williston, N.D.

The price of Brent crude slipped to a 13-month low on Wednesday, pushed lower by reports of oversupply in the markets. However, some market watchers believe that this softness could be signaling something more sinister in the global economy, with a risk that the weakness could spread to other assets. “At the end of the …

Rising optimism

Today we learned that the federal budget deficit is lower, new employment data was positive and small business owner optimism was higher. Will the retailers that report earnings this week show that American consumers are optimistic?

Aging in America: the economy

With thousands of American workers putting in their retirement papers every day, we are kicking off a four part series called Aging in America. We begin part one with a look at the impact of what an aging population along with an older workforce, would have on the U.S. economy.