christopher rugaber

WASHINGTON | Buoyant stocks lift US household wealth, mainly for affluent

WASHINGTON  — A rising stock market lifted U.S. household wealth to a record $106.9 trillion in the April-June quarter, the culmination of a decade of economic recovery but a gain that is concentrated largely among the most affluent. The value of Americans’ stock and mutual fund portfolios rose $800 billion, while home values increased $600 … Continue reading WASHINGTON | Buoyant stocks lift US household wealth, mainly for affluent

WASHINGTON | Buoyant stock market lifted US household wealth last quarter

WASHINGTON — Solid stock market returns lifted U.S. household wealth to a record $106.9 trillion in the April-June quarter, a culmination of a decade of economic recovery but a gain that is concentrated largely among the most affluent. The Federal Reserve says the value of Americans’ stock and mutual fund portfolios rose $800 billion, while … Continue reading WASHINGTON | Buoyant stock market lifted US household wealth last quarter

WASHINGTON | San Francisco Federal Reserve names Mary Daly as president

WASHINGTON — The Federal Reserve Bank of San Francisco on Friday announced the appointment of Mary Daly, a longtime Fed economist and a labor market specialist, as the next president of the regional bank. Daly replaces John Williams, who became president of the New York Federal Reserve Bank in April. When she begins Oct. 1, … Continue reading WASHINGTON | San Francisco Federal Reserve names Mary Daly as president

WASHINGTON | Closed ports, lost power: How storm could hurt area economy

WASHINGTON — Ports are closing. Farmers are moving hogs to high ground. Dealers are moving cars into service bays for refuge. And up to 3 million energy customers in North and South Carolina could lose power for weeks. Across the Carolinas, Virginia and Georgia, businesses are bracing for the economic damage Hurricane Florence is expected … Continue reading WASHINGTON | Closed ports, lost power: How storm could hurt area economy

WASHINGTON | AP FACT CHECK: Obama was harsh against leakers

WASHINGTON  — Barack Obama‘s recent denunciation of President Donald Trump’s treatment of the press overlooks the aggressive steps the Justice Department took to keep information from the public when he was president. Obama also made a problematic claim that Republican “sabotage” has cost 3 million people their health insurance. With his return to the political … Continue reading WASHINGTON | AP FACT CHECK: Obama was harsh against leakers

WASHINGTON | AP FACT CHECK: White House’s selective reading on economy

WASHINGTON — President Donald Trump pitched a wildly off-base claim about economic growth Monday as the White House used selective statistics to build a case that the economy is doing much better than when Barack Obama was in office. The attention on Obama comes as the ex-president steps back into the political arena on behalf … Continue reading WASHINGTON | AP FACT CHECK: White House’s selective reading on economy

WASHINGTON | Solid US job growth is likely to be reported for August

WASHINGTON — U.S. employers likely hired at a healthy pace in August, emboldened by brisk consumer spending and an economy that keeps growing steadily. Economists have forecast that employers added 189,000 jobs in August and that the unemployment rate dipped from an already-low 3.9 percent to 3.8 percent, according to data provider FactSet. That would … Continue reading WASHINGTON | Solid US job growth is likely to be reported for August