Federal Reserve Chairman Ben Bernanke during his Capitol Hill testimony Wednesday before the Joint Economic Committee.
The Fed chairman cautioned Wednesday that if interest rates were to start rising now, the economy could slump. Meanwhile, the National Association of Realtors said sales of existing homes rose — and would have been even stronger if not for tight inventory.
May 19, 2013 The iconic Industrial Trust Tower in downtown Providence is empty for the first time in 85 years. Developers want to turn it into luxury apartments — and want the state and city to pay for it. But Providence — like the rest of Rhode Island — faces its own economic problems, as well as a recent failed investment.
May 19, 2013 When the factory she worked at closed down, Tammy Thomas reinvented herself as a community organizer; and when Dean Price's truck stop business went belly up, he became a champion of biofuel. In a new book, George Packer examines how ordinary people are adapting to a new America.
May 18, 2013 Fed up with working for free, some interns are suing their employers. Last week, a judge ruled that interns could not sue the Hearst Corp. as a class action, which could be a legal setback for young workers tired of exploitative unpaid internships.
May 16, 2013 The number of passengers planning to fly this summer will rise 1 percent from 2012, climbing back to the highest level since 2008, an industry group said Thursday. After years of instability, airlines welcome an easing in jet fuel prices. Even customers' complaints are quieting down.
May 16, 2013 You could end up with a lot less savings at 65 than you ever anticipated because of fees charged by the financial institutions managing your retirement accounts. Robert Hiltonsmith, who researches retirement security, says those fees were disclosed to 401(k) plan participants until only recently.
May 16, 2013 S&P says Berkshire Hathaway has an "excellent business profile," but that its dividend income is too dependent on the insurance companies it owns. The move is not expected to have much, if any, effect on Buffett's company.
May 16, 2013 The good news: Inflation remains in check. The bad news: Jobless claims are up, and housing starts are down.
May 15, 2013 The Congressional Budget Office has sharply revised down the outlook for the federal budget deficit. Some temporary factors are being cited for the projected improvement. Keeping the deficit on a downward path may depend on the economy, analysts say.
May 17, 2013 With budgets tight, the court in San Joaquin County, Calif., stopped hearing all small claims cases in September. More than 800 people have since filed claims with no hearing dates in sight. Many other counties nationwide are experiencing similar delays for civil cases as they grapple with spending cuts.