Latest Economic outlook News

Oregon business tax greeted with confusion, consternation

Feb. 22, 2020 10:02 AM EST

PORTLAND, Ore. (AP) — Ross Stock has known since last spring that his softwood lumber mill in Toledo would be subject to Oregon’s new, $1 billion business tax. Nine months later, though, he still doesn’t know what it will cost him. The new corporate activity tax, which went into effect...

Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee on Capitol Hill in Washington, Wednesday, Feb. 12, 2020, during a hearing on the Monetary Policy Report. (AP Photo/Susan Walsh)

Fed officials downplay virus even as markets see rate cuts

Feb. 21, 2020 4:55 PM EST

WASHINGTON (AP) — When Wall Street expects the Federal Reserve to cut interest rates, should that influence the Fed's decisions? Two Fed officials diverged on that issue in remarks Friday at a monetary policy conference in New York. The disagreement occurred just as the scenario is playing out in real...

Survey suggests trade deal signings buoyed bankers' hopes

Feb. 21, 2020 10:46 AM EST

OMAHA, Neb. (AP) — A new survey of bankers in rural parts of 10 Plains and Western states suggests they're optimistic about the economy over the next few months, thanks to the signings of the U.S.-Mexico-Canada trade agreement and the China trade agreement. The finding was one of several in the latest...

FILE - In this Feb. 5, 2020, file photo trader Ashley Lara works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Wednesday, Feb. 19. (AP Photo/Richard Drew, File)

Asian stocks mixed after Wall Street rises to record

Feb. 19, 2020 11:43 PM EST

TOKYO (AP) — Shares were mixed Thursday in Asia after Wall Street recovered to record highs, but worries persist about damage to the regional economy from the new virus that began in China. Japan's benchmark Nikkei 225 gained 0.3% to 23,474.78, shedding bigger early gains. Australia's S&P/ASX 200...

FILE - In this June 11, 2018, file photo, flames consume trees during a burnout operation that was performed south of County Road 202 near Durango, Colo. A report by the U.S. Geological Survey shows investments made to reduce the risk of wildfire in forested areas are paying dividends when it comes to creating jobs and infusing money in local economies. The study focused on several counties along the New Mexico-Colorado border that make up the watershed of the Rio Grande. (Jerry McBride/The Durango Herald via AP, File)

Report: Work to reduce wildfire risks has economic benefits

Feb. 19, 2020 5:22 PM EST

ALBUQUERQUE, N.M. (AP) — Projects to reduce the risk of wildfires and protect water sources in the U.S. West have created jobs and infused more money in local economies, researchers say, and they were funded by a partnership between governments and businesses that has become a model in other countries. A...

FILE - In this Feb. 12, 2020, file photo Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee on Capitol Hill in Washington. On Wednesday, Feb. 19, the Federal Reserve releases minutes from its January meeting. (AP Photo/Susan Walsh, File)

Fed seems inclined to keep rates low as virus poses risks

Feb. 19, 2020 3:47 PM EST

WASHINGTON (AP) — Federal Reserve officials were mostly optimistic about the U.S. and global economies last month, though they noted the risk posed by China’s viral outbreak and said they were ready to keep their benchmark interest rate at its current low level in the coming months. Fed policymakers...

In this photo taken Tuesday, Feb. 11, 2020, a woman walks past Lunar New Year decor and shuttered bars at a retail district in Beijing, China. Millions of Chinese workers and entrepreneurs are bearing the rising costs of an anti-virus campaign that has shut down large sections of the economy. The government has imposed restrictions nationwide that have stalled travel and sales of real estate and autos. (AP Photo/Ng Han Guan)

Cost of China's anti-virus fight rises with workers idle

Feb. 15, 2020 9:28 PM EST

BEIJING (AP) — Real estate agent Du Xuekun’s sales usually jump after the Lunar New Year holiday. But this year, Du has been at home for a month with no income after vast swathes of China’s economy were shut down in a sweeping effort to contain a virus outbreak. Du, who lives in Jiaozhuo,...

FILE - This April 13, 2019, file photo, shows homes in suburban Salt Lake City. Americans shopping for a home this spring may face more competition than they have in years. (AP Photo/Rick Bowmer, File)

Buyers face more competition amid shortage of home listings

Feb. 13, 2020 2:02 PM EST

LOS ANGELES (AP) — Americans shopping for a home this spring may face more competition than they have in years. A strong labor market and growing pool of would-be buyers as more millennials enter their 30s is expected to fuel demand for homes at a time when the inventory of properties for sale is at the...

EU monitoring economic impact of virus outbreak

Feb. 13, 2020 10:51 AM EST

FRANKFURT, Germany (AP) — The European Union warned Thursday that the spread of the viral outbreak in China is a risk for the economy but that its full impact will depend on how long it lasts and how far it spreads. The European Commission, the bloc's executive arm, said in its winter economic forecast...

FILE - In this Feb. 10, 2020, file photo, a cleaner walks through a deserted compound of a commercial office building in Beijing. Chinese authorities are struggling to strike a delicate balance between containing a deadly viral outbreak and restarting the world’s second-biggest economy after weeks of paralysis. (AP Photo/Andy Wong, File)

Businesses struggle to fix supply chains disrupted by virus

Feb. 11, 2020 6:01 PM EST

WASHINGTON (AP) — Chinese authorities are struggling to strike a delicate balance between containing a viral outbreak and restarting the world’s second-biggest economy after weeks of paralysis. As the death toll from the newly named COVID-19 illness topped 1,000, global supply chains remain widely...