Economy and Politics
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86680The U.S. is at risk of the same price-shrinking economy that has been termed the "lost decade" in Japan, a voting member of the Fed says; James Bullard says delation's not a done deal, however, and that it will take more negative shocks to tip inflation lower.
• Beige Book sees growth, but some areas are stalling out
labor sector
Jobless claims fall 11,000
The number of people applying for initial unemployment benefits fall to 457,000, slightly better than expectations.
Reuters
Ethics trial for Rangel
Veteran House Democrat Charles Rangel insists he's done nothing wrong in response to charges of 13 ethics violations and now faces a potentially damaging House trial.
GOP blocks community bank bill
Senate narrowly rejects Democratic effort to close debate on a bill setting up a $30 billion fund to help community banks lend to small businesses as Republicans push for more amendments.
• Energy bill: Political sparring heats up
Democrats and the Bush tax cuts
The debate over extending the Bush tax cuts is an ideological fight that the Republicans will win; says Darrell Delamaide.
• Campaign finance setback
Job worries
Consumer confidence falls in July on concerns about jobs and business conditions; consumer confidence index drops to 50.4 -- the lowest level since February.
A series of Japanese data contain good and bad news, with worse unemployment and industrial output than expected, but surprisingly strong household spending, and deflation roughly in line with forecasts.
The government will release data Friday that will shed light on whether the economy is on a path for sustainable growth, or may be in danger of slumping into a double-dip recession.
If she wins in November, the Golden State would be represented by one of the most controversial Silicon Valley leaders in recent years.
Economy and Politics Headlines
Experience heading an Internet highflier may not necessarily work well in a new role as chief executive of one of the country’s most troubled states.
3:07 p.m. Today3:07 p.m. July 29, 2010The European Commission’s measure of morale across the 16-nation euro zone rises.
6:42 a.m. Today6:42 a.m. July 29, 2010British house prices fell 0.5% in July for their first monthly decline since February, mortgage lender Nationwide said Thursday, citing a drop in demand.
3:59 a.m. Today3:59 a.m. July 29, 2010After disagreeing on campaign finance reform, energy legislation, and extending jobless benefits, Democrats and some Republicans may be poised to score a small victory for bipartisanship and approve a bill that would aid small businesses this week.
3:24 p.m. July 28, 2010
Washington observers see improving odds that Elizabeth Warren will become the head of the important new Consumer Financial Protection Bureau, surviving mixed feelings from the White House and determined opposition from bank lobbyists and Republicans.
12:09 p.m. July 28, 2010
Neil Shah discusses glimmers of hope for Europe's recovery as evident from recent data.
As the president heads to New York for a pair of high-dollar fund-raisers, he will be seeing many Wall Street executives who feel put off by his rhetoric and policies. Alan Murray, Jerry Seib and Bob O'Brien discuss. Also, Neil Shah discusses glimmers of hope for Europe's recovery.
Weakness in many categories of built-to-last products drive orders for new U.S.-made durable goods down by 1.0% in June, the second straight monthly decline and the biggest drop in 10 months, Commerce Department data show.
9:00 a.m. July 28, 2010Video
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