Letter to the Editor: Delaware’s anemic economy

The latest report from The Federal Reserve Bank of Philadelphia shows that our state’s economy will likely contract within the next six months. Here are a few ideas for Delaware’s elites to ponder. First, we must markedly reduce the footprint of government upon the state’s economic landscape. How? By an orderly process of deconstruction and […]

Employers post more jobs in October in sign of solid economy

WASHINGTON — The number of available jobs jumped in October after hitting an 18-month low the previous month, a sign the job market remains strong. The Labor Department said Tuesday that the number of available positions rose 3.3% to nearly 7.3 million. That suggests that businesses remain confident enough in the economic outlook to create […]

Powell says Fed will aid economy, but Trump escalates attack

WASHINGTON — Federal Reserve Chairman Jerome Powell signaled Friday that the Fed stands ready to cut interest rates further if the economy needs it but wasn’t clear about when or by how much. Powell had barely finished speaking to central bankers in Jackson Hole, Wyoming, before President Donald Trump escalated his attacks on the Fed, […]

US adds solid 224,000 jobs; Fed rate cut may be less certain

WASHINGTON — U.S. employers sharply stepped up their hiring in June, adding a robust 224,000 jobs, an indication of the economy’s durability after more than a decade of expansion. The strength of the jobs report the government issued Friday could complicate a decision for the Federal Reserve late this month on whether to cut interest […]

US and Mexico: More talks, no deal yet to avert tariffs

WASHINGTON — Ending a second day of tense negotiations, U.S. and Mexican officials failed Thursday to reach a deal to avert import tariffs that President Donald Trump is threatening to impose as he tries to strong-arm Mexico into stemming the flow of Central American migrants across America’s southern border. Vice President Mike Pence, monitoring the […]

Commentary: Mixed signals on Delaware’s employment projections

There seems to be a disconnect between the employment projections of the Delaware Department of Labor (DOL) and Delaware Economic and Financial Advisory Council (DEFAC). The latest DEFAC revenue projections (April, 2019) assume an annual growth rate in total Delaware employment of 1.2%. Simultaneously, the Delaware DOL’s estimated total employment growth rate for two years […]

US economy grew at strong 3.2% rate in first quarter

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WASHINGTON — The U.S. economy grew at a solid 3.2% annual rate in the first three months of the year, a far better outcome than expected, overcoming a host of headwinds including global weakness, rising trade tensions and a partial government shutdown The advance in the gross domestic product, the broadest measure of economic health, […]

State auditor laments staffing shortage, lack of audits in first 100 days report

DOVER — How does Delaware’s new state auditor define “eroded?” Let Kathleen “Kathy” McGuiness count the ways. “ … a 50-percent staff vacancy rate and a number of pending audits and reports,” she said Thursday morning during a 15-minute presentation detailing her first 100 days in office and the plans ahead to remedy the supposed […]

Prices rise as the minimum wage increases in several states

JEFFERSON CITY, Mo. — At Granny Shaffer’s restaurant in Joplin, Missouri, owner Mike Wiggins is reprinting the menus to reflect the 5, 10 or 20 cents added to each item. A two-egg breakfast will cost an extra dime, at $7.39. The price of a three-piece fried chicken dinner will go up 20 cents, to $8.78. […]

GUEST COMMENTARY: The IMF has good reason to fear cryptocurrency

The International Monetary Fund refers to cryptocurrency only once in its 215-page World Economic Outlook for October 2018, but that reference is telling: “Continued rapid growth of crypto assets could create new vulnerabilities in the international financial system.” Ironically and counter-intuitively — but in my opinion not accidentally — that sentence is grouped in a […]