By Daniel Wagner AP Business Writer Washington — Industrial production edged up 0.1 percent in February, beating expectations and marking the eighth straight monthly increase. The manufacturing sector — for months a rare bright spot in the economy — produced ...

Tagged with: Federal Reserve industrial production manufacturing MFR Inc. mining utilities

By CHRISTOPHER S. RUGABER AP Economics Writer WASHINGTON (AP) — New claims for jobless benefits fell last week in a sign that layoffs may be easing as the U.S. economy slowly recovers. The Labor Department said Thursday that initial claims ...

Tagged with: Beige Book Bunning economy Fed Federal Reserve jobs Labor Department unemployment

By JEANNINE AVERSA AP Economics Writer WASHINGTON (AP) — Highlights from the Federal Reserve’s survey of economic conditions nationwide. The survey, released Wednesday and known as the Beige Book, is based on information collected from the Fed’s 12 regional bank ...

Tagged with: Beige Book economy Fed Federal Reserve

By CHRISTOPHER S. RUGABER AP Economics Writer WASHINGTON (AP) — The number of new claims for unemployment benefits jumped unexpectedly last week as heavy snows caused layoffs to rise. In addition, many state agencies in the mid-Atlantic and New England ...

Tagged with: benefits Fed Federal Reserve jobs Labor Department unemployment

By Jeannine Aversa AP Economics Writer Washington — Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that record-low interest rates are still needed to ensure that the economic recovery will last and to help ease the sting of high ...

Tagged with: Bernanke Fed Federal Reserve House Financial Services Committee unemployment

A vacant home is surrounded by a chain link fence carrying a “bank owned” sign and ads from local tradespeople Tuesday in Los Angeles. The dismal results of the Obama administration’s mortgage aid program are raising doubts about whether the ...

Tagged with: Federal Reserve foreclosures Geithner Obama Obama administration Wells Fargo

By JEANNINE AVERSA AP Economics Writer WASHINGTON (AP) — The Federal Reserve expects unemployment will stay high over the next two years because recession-scarred Americans are likely to stay cautious, making for only a moderate-paced economic recovery. Fed policymakers said ...

Tagged with: economy Fed Federal Reserve jobs unemployment

By Jeannine Aversa AP Economics Writer Washington — Federal Reserve Chairman Ben Bernanke began Wednesday to outline the central bank’s strategy for reeling in stimulus money once the economic recovery is more firmly rooted. Bernanke said the Fed will likely ...

Tagged with: Bernanke economic recovery Fed Federal Reserve House Financial Services Committee recession stimulus

Mclean, Va. (AP) — Rates on 30-year mortgages remained almost flat this week as Federal Reserve officials announced they would keep rates near record lows to help the economy recover. The average rate on a 30-year fixed mortgage was 4.98 ...

Tagged with: Federal Reserve Freddie Mac

By Alan Zibel AP Real Estate Writer Washington — Sales of previously occupied homes took the largest monthly drop in more than 40 years last month, sinking more dramatically than expected after lawmakers gave buyers more time to use a ...

Tagged with: Capital Economics Federal Reserve Great Depression home sales National Association of Realtors Thomson Reuters