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Doing More With Less: Family Incomes Decline 40 Percent
As the average American family continues to whittle down their budgets, a Federal Reserve Survey of Consumer Finances sheds some light on just how much families are trying to stretch their dollars. The survey is taken every three years, and the latest report covers the time span between 2007 and 2010 – a very tumultuous [...] Continue reading
Weekly Jobless Claims Drop; Trend Uncertain
Just a day after the Automatic Data Processing company released a negative report showing just a small increase of 119,000 employment gains in the private sector in April, the Department of Labor released a positive report on the weekly jobless claims for the week ending on April 28. The claims decreased by 27,000 from the [...] Continue reading
Citi Among Banks to Fail Fed Stress Test
The Federal Reserve announced its capital stress test results on the 19 largest US banks, of which 15 passed. Citigroup Inc., Ally Financial Inc., MetLife, and Sun Trust banks failed the stress test by having less than 5% capital set aside. The stress test played on the possibilities of major economic downturn coming at the [...] Continue reading