By consumers, businesses and governments. Gross domestic product, the broadest measure of Economic Activity expanded at 3. 7 . Above expectations of 3. 2 . And that wasnt the only positive economic report. The job market also remains healthy. Claims for firsttime Unemployment Benefits fell by 6,000 last week to near historic lows and home buyer demand remains steady in july. As pending home sales, a forward looking gauge of u. S. Home sales rose half a percent. But these numbers stand in contrast to whats happening in other parts of the world. Where stock markets are falling and Global Growth may be slowing. No more is more evidence than in jackson hole, wyoming, where the federal reserves next move is very much in focus. Steve liesman is there. Reporter this grizzly bear stands at the entrance in jackson hole, a threatening reminder they may not be out of the woods when it comes to the dangers of raising interest rates. But one fed official is ready to stare down the bear. This weeks
By consumers, businesses and governments. Gross domestic product, the broadest measure of Economic Activity expanded at 3. 7 . Above expectations of 3. 2 . And that wasnt the only positive economic report. The job market also remains healthy. Claims for firsttime Unemployment Benefits fell by 6,000 last week to near historic lows and home buyer demand remains steady in july. As pending home sales, a forward looking gauge of u. S. Home sales rose half a percent. But these numbers stand in contrast to whats happening in other parts of the world. Where stock markets are falling and Global Growth may be slowing. No more is more evidence than in jackson hole, wyoming, where the federal reserves next move is very much in focus. Steve liesman is there. Reporter this grizzly bear stands at the entrance in jackson hole, a threatening reminder they may not be out of the woods when it comes to the dangers of raising interest rates. But one fed official is ready to stare down the bear. This weeks
By consumers, businesses and governments. Gross domestic product, the broadest measure of Economic Activity expanded at 3. 7 . Above expectations of 3. 2 . And that wasnt the only positive economic report. The job market also remains healthy. Claims for firsttime Unemployment Benefits fell by 6,000 last week to near historic lows and home buyer demand remains steady in july. As pending home sales, a forward looking gauge of u. S. Home sales rose half a percent. But these numbers stand in contrast to whats happening in other parts of the world. Where stock markets are falling and Global Growth may be slowing. No more is more evidence than in jackson hole, wyoming, where the federal reserves next move is very much in focus. Steve liesman is there. Reporter this grizzly bear stands at the entrance in jackson hole, a threatening reminder they may not be out of the woods when it comes to the dangers of raising interest rates. But one fed official is ready to stare down the bear. This weeks
President obama and congress to agree on avoiding a combination of higher taxes and Government Spending cuts, the president today said he wont extend tax cuts for people who dont need them. That hard line came during a White House Press conference just as a negotiations with Republican Leaders get underway to avoid the fiscal cliff. As darren gersh reports from washington, even before republicans and democrats sit down to talk on friday, both sides are laying down markers. Reporter just two days before he meets with congressional leaders, the president took a tougher tone on budget talks. In his news conference, he pushed hard for an immediate extension of tax cuts for everyone making less than 250,000 a year. And by the way, that means every american, including the wealthiest americans get a tax cut. It means that 98 of all americans, and 97 of all Small Businesses wont see their taxes go up a single dime. The senate has already passed a law like this. Democrats in the house are ready
Tom with 47 days left for president obama and congress to agree on avoiding a combination of higher taxes and Government Spending cuts, the president today said he wont extend tax cuts for people who dont need them. That hard line came during a White House Press conference just as a negotiations with Republican Leaders get underway to avoid the fiscal cliff. As darren gersh reports from washington, even before republicans and democrats sit down to talk on friday, both sides are laying down markers. Reporter just two days before he meets with congressional leaders, the president took a tougher tone on budget talks. In his news conference, he pushed hard for an immediate extension of tax cuts for everyone making less than 250,000 a year. And by the way, that means every american, inuding the wealthiest americans get a tax cut. It means that 98 of all americans, and 97 of all Small Businesses wont see their taxes go up a single dime. The senate has already passed a law like this. Democrat