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WSJ.com: Economy
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Economy
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Durable-Goods Orders Climb
Demand for expensive goods rose 1.3% in July, an unexpected gain, thanks to a dollar-fueled export boom that analysts warn may soon fade as overseas growth slows. A barometer of business-equipment spending climbed by 2.6%.
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Inflation Data Damp ECB Rate-Cut Hopes
Slowing German inflation suggested price growth in the euro zone likely peaked during July, but ECB officials tried to damp market expectations that interest rates might be reduced soon.
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Fed Minutes Show Split on Inflation Risk
Fed officials downgraded their economic forecast at their last policy-setting meeting, according to meeting minutes. Some officials appeared divided over the degree of the inflation threat and the extent to which financial turmoil is weighing on the economy. (Minutes)
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Europe's Gloom Is Boon to Dollar
As the economic picture in Europe darkens, the U.S. dollar is proving to be the main beneficiary. The dollar has gained about 8% vs. the euro, 9% vs. the pound and 5% vs. the Japanese yen since mid-July.
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Residential Loan Delinquencies Rise
Delinquencies and losses on loans backing residential mortgage-backed securities issued in 2006 and 2007 continued to weaken through the first half, Moody's said.
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Housing Market Still Under Pressure
Home prices are improving in some parts of the country but still falling sharply in hard-hit places like Phoenix, as the weak housing market and shaky consumer confidence continue to weigh on the battered U.S. economy.
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Dallas Banker Presents Grim Outlook
Federal Reserve Bank of Dallas President Richard Fisher presented a challenging outlook for the economy and policy makers, in an interview, and tied the future of monetary policy to incoming data.
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Economy Challenges Obama Agenda
Obama is proposing to use the government to remake economic policies in a way that Washington hasn't seen in decades. If an Obama administration pursues an activist agenda, it could alienate the rising number of conservative Democrats.
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Number of Uninsured Declines
The Census Bureau reported that the number of people lacking health insurance dropped by more than one million in 2007, the first annual decline since the Bush administration took office. The nation's poverty rate held steady.
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Home Sales Rise but Risks Persist
Existing-home sales rose a healthy 3.1% in July from the previous month, but growing inventories of unsold homes and rising mortgage interest rates continue to thwart a full housing-market recovery.
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