Streams

Charlie Herman

Business and Economics Editor

Charlie Herman appears in the following:

A Silver Lining When Markets Are Falling

Wednesday, August 10, 2011

The slow down of the nation's economy does have at least one silver lining for anyone trying to get a mortgage or refinance an existing one.  The average interest rate for a 30-year fixed loan is now 4.43 percent according to HSH.com, a website that tracks mortgage lending across the country.

Comments [1]

Stocks Drop as Attention Returns to Weak Economy

Wednesday, August 10, 2011

The Dow Jones industrial average closed down 520 points Wednesday on a day that concern over the weakening economy continued to percolate on Wall Street and send stocks tumbling.

Comment

How Does Market Plunge Affect Economy as a Whole?

Tuesday, August 09, 2011

How closely tied are the financial markets to the economy at large? In reaction to the country’s credit rating downgrade on Friday the markets had their worst day since the 2008 financial crisis yesterday as the Dow Jones dropped about 635 points and the Nasdaq was down 175. But do these numbers affect our country’s ability to create jobs? Do they have any meaningful relationship to consumer confidence, the arguable engine of our economy?

Comments [2]

Circuit Breakers: How Far Markets Have to Fall Before Trading Is Halted

Monday, August 08, 2011

U.S. stock markets fell quickly Monday morning after Standard and Poor's cut the nation's credit rating. After opening Monday, the Dow Jones was down nearly 350 points — or more than 3 percent. The S&P 500 and Nasdaq were down by nearly 4 percent. With big drops like this, how much does the Dow need to fall before trading is stopped?

Comment

This Week's Agenda: U.S. Credit Rating, Obama Bus Tour, Verizon Strike

Monday, August 08, 2011

Credit ratings agency Standard and Poor's downgraded the U.S.'s credit rating for the first time in history on Friday, causing jaws to drop across the country, and raising the blood-pressures of leaders worldwide as many held emergency meetings to fend off any backlash this news might create. President Obama will be preparing this week for his upcoming bus tour to reconnect with voters in the Midwest. Meanwhile, News Corp. will release their fourth quarter results on Wednesday, the PGA Championship kicks off on Thursday, and Dennis Rodman will be inducted into the Basketball Hall of Fame on Friday.

Comment

July Jobs Report Better Than Expected, But Fears Linger

Friday, August 05, 2011

There was a glimmer of good news Friday morning in the U.S jobs report, which beat many forecasters’ estimates. Speaking in Washington, President Barack Obama said “We are going to get through this. Things will get better and we are going to get there together.”

Comments [1]

Bad Day on Wall Street As Dow Plunges More than 500 Points

Thursday, August 04, 2011

Thursday was a bad day for the markets as the Dow fell 513 points, or more than 4 percent. Why? Continued worries about Europe, Italy and Spain in particular, plus some sell-off that could be attributed to the monthly jobs report due out Friday.

Comments [1]

Despite Debt Deal, Economic Outlook Remains Bleak

Wednesday, August 03, 2011

Despite Congress finally passing a debt deal and President Obama signing off on the plan yesterday, the national mood was not celebratory. It's been a bad week for the economy, and it appears that it will only get worse. Last Friday, G.D.P. data showed disappointing economic activity in the nation's second quarter, and this week the Commerce Department released a report showing consumer spending fell in June. New employment figures, the economic indicator used to gauge growth, will be released Friday, and many are expecting them to be dismal.

Comments [2]

This Week's Agenda: Crunch Time in Washington

Monday, August 01, 2011

The August 2 deadline for Congress to agree on a budget deal and avoid defaulting is looming uncomfortably close. Last night, President Obama and Senate Majority leader Harry Reid said tonight that congressional leaders of both parties have agreed on a plan to lift the debt ceiling. They will present the plan to their caucuses this morning, and hope for the measure to pass through votes by both the House and Senate, in order to avoid a U.S. default by August 2.

Comments [3]

Wall Street Bankers Meet With Treasury Officials as Debt Deadline Looms

Friday, July 29, 2011

As Congress continues the debate raising the nation's debt ceiling, executives at the nation's largest banks are meeting with Treasury officials at the Federal Reserve Bank of New York.

Comment

This Week's Agenda: Norway, Debt Limit, Murdoch

Monday, July 25, 2011

The methodical killing of over 90 people by a gunman in Norway over the weekend has gripped the world with horror. The accused, Anders Behring Breivik, is currently in police custody, and has said he acted alone. Marcus Mabry, editor-at-large of The International Herald Tribune, the international edition of The New York Times, believes this tragic event has made Europe aware of a different kind of threat that they never knew was out there - extremist right-wing groups.

Comment

This Week's Agenda: Dodd-Frank Anniversary, Consumer Financial Protection Bureau Launches, and Gay Marriage in New York

Monday, July 18, 2011

This week marks the one-year anniversary of President Obama signing the Dodd-Frank Wall Street Reform Bill into law. A key component of that bill was the establishment of a Consumer Financial Protection Bureau (CFPB), which will open its doors on Thursday. Yesterday, Obama announced Elizabeth Warren — the progressive icon who was charged with setting up the CFPB — will not be heading the new agency. In other news, the first legal same-sex marriages will take place in New York next weekend, and the nation's biggest banks will release their latest quarterly earnings statements.

Comment

Economic News Round-Up

Friday, July 15, 2011

Diane Swonk, Chief Economist for Mesirow Financial, and WNYC business and economics editor Charlie Herman discuss the debt ceiling negotiations, recent jobs numbers, and other economic news.

Comments [18]

FBI Probes News Corp for Alleged Hacking of 9/11 Victims

Thursday, July 14, 2011

The Federal Bureau of Investigation has opened an investigation into allegations that News Corp.'s U.K.-based tabloid News of the World tried to hack into the phones of victims of September 11, 2001, a law enforcement official confirms the investigation to WNYC.

Comments [1]

News Corp Investors Sue Over Hacking

Monday, July 11, 2011

A group of News Corp shareholders is suing the company over the phone-hacking scandal that led to the company shutting down its British news paper, News of the World.

Comment

This Week’s Agenda: Debt Negotiations, Jobs, and Unrest in the Middle East

Monday, July 11, 2011

Negotiations over the debt ceiling continue this week, and we're taking a look at the economic impact of the trillion dollar talks. What do the latest figures for unemployment, at 9.2 percent, suggest about corporate earnings, which will be out this week?

Comment

This Week's Agenda: Afghanistan, Debt, Republicans

Monday, June 27, 2011

Robert Gates will step down as Secretary of Defense this week, with Leon Panetta taking over. Panetta will have a lot on his plate, starting with the start of U.S. troops withdrawing from Afghanistan later this week. Noel King, managing producer for The Takeaway, looks at what obstacles are in store for Panetta as he begins his reign as Defense Secretary. 

President Obama will meet with Congressional leaders to try and come to an agreement on raising the debt ceiling, or face going into default. Charlie Herman, business and economics editor for The Takeaway and WNYC, looks at the economic effects this on-going debate could have if a conclusion is not reached soon. 

Comment

This Week's Agenda: Debt Ceiling, Economy, Gay Marriage

Monday, June 20, 2011

All the jawing and insult throwing has ceased for the time being as negotiations heat up on Capitol Hill over the debt ceiling. Vice President Joe Biden said there are four meetings scheduled, and "now we're getting down to the really hard stuff." Todd Zwillich, The Takeaway's Washington Correspondent, says Congress would love to get an agreement by the 4th of July—way ahead of the deadline in August. 

As Washington tries to get the debt ceiling squared away, the Federal Reserve will meet on Wednesday to discuss interest rates. Housing numbers have been consistently awful for some time now, with no sense of relief in sight. Charlie Herman, economics editor for The Takeaway and WNYC, looks at what we can expect from Wednesday's meeting, and whether or not it's likely that the Fed will decide to leave interest rates close to zero.

Comments [2]

This Week's Agenda: GOP Debate, Economy, Netroots

Monday, June 13, 2011

The GOP will see it's first major debate with all its prominent players in New Hampshire today. Mitt Romney, Newt Gingrich, Michele Bachmann, and Rick Santorum are all expected to participate. Todd Zwillich, The Takeaway's Washington correspondent, is most interested in how Bachmann and Santorum try to "out-conservative" each other to gain the following of those who don't support Mitt Romney. A topic that will surely be a key part of the debate will be the poor state of the economy. A set of key economic indicators is set to be released this week. Charlie Herman, economics editor for The Takeaway and WNYC, is expecting retail sales to fall, and a stock market finishing down for six weeks in a row is certainly not helping either. 

Comment

This Week's Agenda: Obama in Europe, Economy and Oprah

Monday, May 23, 2011

President Barack Obama arrives in Ireland today, as he begins is week long trip to Europe. His stops include the UK, France, and Poland. Jason Stallman, editor for the national desk at The New York Times, looks at what we can expect in the week ahead on this trip. 

As the president journeys through Europe, a number of key economic indicators is set to be released, including GDP figures. Charlie Herman, economics and business editor for The Takeaway and WNYC, crunches the numbers for us and tells us if good things are ahead for our economy.

Comment