Abilene

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Zero interest rate policy may be bad for Wall Street but it's good for workers

Stock markets and investors may consider the Federal Reserve’s decision bad news, but it’s also a sign that they feel pressure on behalf of ordinary workers<p>It took them a day to absorb the news but by Friday investors across the world had decided that the Federal Reserve’s decision not to increase …

The US budget deficit is about to drop to its lowest level since Obama took office

The deficit in the fiscal year ending Sept. 30 will total $426 billion, according to CBO, or $59 billion below what it was last year — and $60 billion smaller than what the agency projected in March.<p>At the same time, publicly held debt will hold fairly steady at around 74 percent of gross domestic …

Budget Deficit

More millennials stuck renting for years before buying home

WASHINGTON (AP) — Home ownership, that celebrated hallmark of the American dream, is increasingly on hold for younger Americans.<p>Short of cash, …

Real Estate

Interest rates must rise sooner rather than later, says Kristin Forbes

Kristin Forbes says waiting too long to raise interest rates risks "undermining the recovery"<p>The Bank of England could damage Britain's recovery if officials wait too long before starting to raise interest rates, one of its policymakers has warned.<p>Kristin Forbes said keeping rates at a record low …

Why Job Growth Remains Mushy in the Middle After the Recession

Without degrees, the middle class can’t keep up.<p>A new report Monday by Georgetown University’s Center on Education and the Workforce finds that while high- and low-wage jobs have rebounded to near pre-recession levels, middle-income jobs are trailing in the recovery. The big reason, the authors …

U.S. crude oil hits six-and-a-half-year low on high stocks, China

NEW YORK (Reuters) - U.S. crude oil edged higher after falling to a fresh 6-1/2-year low on Friday, posting a seventh weekly loss amid concerns over global oversupply, while Brent futures slipped as the front-month September contract approached expiration.<p>A customer holds a nozzle to fill up his …

A Letter to Donald Trump Supporters With One Big Question

You’re right to mistrust conventional politicians. But why do you think he’ll treat you any better?<p>Dear Donald Trump Supporters:<p>You’re fed up. This much I understand. You’re fed up with politicians who say one thing on the campaign trail, like that they’re going to stop illegal immigration, and …

Donald Trump

The Chinese economy is going through puberty — and the rest of the world will feel the impact

There's a lot of discussion over whether that means China has joined the "currency war" with some other advanced economies — but that's missing China's bigger picture.<p>The country's economic policy is being torn in a number of different directions. For example, the devaluation of the yuan seen this …

Economics