AP - With gasoline climbing toward $4 a gallon, police officers around the country are losing the right to take their patrol cars home and are being forced to double up in cruisers and walk the beat more.
Reuters - The lifestyles of the rich may be set
for a downgrade as the U.S. economic malaise works its way up
the income ladder, according to a survey released on Wednesday.
Reuters - The U.S. economy continues
to slow and risks are to the downside, but a $152 billion
stimulus package that includes tax rebates should provide
support and lead to more jobs, Deputy Treasury Secretary Robert
Kimmitt said on Wednesday.
AP - Federal Reserve officials strongly suggested they won't be inclined to cut interest rates further even as they sharply downgraded their forecast for economic growth this year, citing damage from a housing slump, credit crunch and galloping energy prices.
Investor's Business Daily - The Federal Reserve slashed U.S. economic growth forecasts on Wednesday but signaled it would not cut interest rates again as it raised inflation targets. -- read full article
AP - The beige 2003 Honda Civic sat on Mike Haile's used car lot in Atlanta for only three days before he sold it for $8,200. And that was $300 more than the asking price.
AP - The Federal Reserve on Wednesday sharply lowered its projection for economic growth this year, citing blows from the housing and credit debacles along with zooming energy prices. It also expects higher unemployment and inflation.
Reuters - Producer prices excluding energy and
food rose at the fastest pace since 1991 in the year through
April, highlighting inflation concerns that could limit the
Federal Reserve's options in shoring up a weak economy.
AP - Wholesale inflation slowed in April following a big jump in March but the improvement is likely to be temporary as consumers are battered in coming months by price hikes for gasoline, food and a host of other items.
AP - The beige 2003 Honda Civic sat on Mike Haile's used car lot in Atlanta for only three days before he sold it for $8,200. And that was $300 more than the asking price. -- read full article
Reuters - The U.S. economy continues
to slow and risks are to the downside, but a $152 billion
stimulus package that includes tax rebates should provide
support and lead to more jobs, Deputy Treasury Secretary Robert
Kimmitt said on Wednesday.
Reuters - The economy is weak but has
sidestepped a recession, according to a key forecasting gauge
that rose for the second straight month in April, the
Conference Board reported on Monday. -- read full article
AP - First the good news: The worst of the painful housing slump and the credit crunch might come to an end this year. Now the bad: The economy will weaken further and unemployment will rise.
Reuters - President George W. Bush said on
Monday the U.S. economy was working through "tough times," and
credited Congress with making some progress on a new law aimed
at helping the troubled housing market.
