Economic News Week March 22, 2010:
By Tony Stevenson
The DOW climbed last week on a better than expected manufacturing outlook. Auto sales are higher and gave that industry a shot in the arm with better than expected sales expected for March. New reports state that the economy is growing modestly without causing inflation while still struggling to create jobs.
However, jobless claims did fall slightly last week for the third week in a row. Consumer prices remained flat for February too, which is an indicator for the direction of inflation. The FED decided to keep its fund rate at current record low levels as promised after seeing that inflation is in check for now.
President Obama signed the new Jobs Bill into law in hopes of boosting hiring by giving tax breaks to the private sector. Plus, Congress passed the Health Care Bill this past weekend in hopes of covering more Americans and helping folks keep coverage with pre-existing illness’.
How much it will cost is still up for debate as we will continue to get an ear full across both party lines. Only time will tell.
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