Economy

Steve Wynn, CEO of Wynn Resorts, slams President Obama on a company conference call today. Below are the most damning portions of the call:

I believe in Las Vegas. I think its best days are ahead of it. But I'm afraid to do anything in the current political environment in the United States. You watch television and see what's going on on this debt ceiling issue. And what I consider to be a total lack of leadership from the President and nothing's going to get fixed until the President himself steps up and wrangles both parties in Congress. But everybody is so political, so focused on holding their job for the next year that the discussion in Washington is nauseating.

And I'm saying it bluntly, that this administration is the greatest wet blanket to business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare

Gold prices rallied to record highs above $1,600 an ounce on Monday, as investors spooked by the euro zone debt crisis and the threat of a U.S. default bought into the metal as a haven from risk.

Stanford economist Michael Boskin writes in The Wall Street Journal that those who argue that the U.S. economy can bear higher pre-Reagan tax rates are wrong—those rates applied to a much smaller fraction of taxpayers than what we're headed for without spending cuts.

Goldman Sachs downgrades Obamanomics

As usual, when Fed chairman Ben Bernanke testified before Congress this week not a single Congressman asked him why he deliberately and transparently triggered the Great Recession of 2007-2009, which was accompanied by a frightening financial crisis, gargantuan bailouts and huge fiscal deficits. Nor has Bernanke been held accountable for [...]

Here, a look at not only the jobs report, but also "what-if" proffers for the US and global economies.

The Wall Street Journal says that President Obama wants $1 trillion in new taxes on top of the multiple tax increases he's already signed as part of the Affordable Care Act.

House Speaker John Boehner’s decision to abandon talks over a comprehensive budget deal may be smart politics but it’s a lost opportunity.

After a decline this summer, crude's price is likely to rise sharply by next spring. It will hurt the economy, but it won't be a disaster.

Fed's buyback program ends with uncertain results.

Treasury Secretary Timothy F. Geithner has signaled to White House officials that he’s considering leaving the administration after President Barack Obama reaches an agreement with Congress to raise the national debt limit, according to three people familiar with the matter.

Oil prices are being slammed, off 4%, on an emergency meeting of the International Energy Agency in Paris to announce the release of 60 million barrels of oil from global strategic petroleum reserves. Member countries of the IEA voted on the release. “Today, for the third time in the history of the International Energy Agency, [...]

It's not just high gas prices. America has a growth problem and a jobs problem that might be beyond Washington's control.

While oil has fallen sharply since May, gasoline is down just about 10 percent and it is not likely to drop below $3 any time soon.

Pacific Investment Management Co.’s Bill Gross, manager of the world’s biggest bond fund, said the Federal Reserve is unlikely to do a third round of quantitative easing even with the economy adding fewer jobs than forecast.

Wall Street is having a hard time figuring out what to do now that the US economy appears to be sputtering and yields are so low, Peter Yastrow, market strategist for Yastrow Origer, told CNBC.

The last month has been a horror show for the U.S. economy, with economic data falling off a cliff, according to Mike Riddell, a fund manager at M&G Investments in London.

The forecast for the summer driving season: Hit the road early. Not to beat the traffic, but to beat the higher gas prices expected in mid-July.

The Wall Street Journal argues America can be a superpower or a welfare state, but not both.

The Obama administration will begin to tap federal retiree programs to help fund operations after the government loses its ability Monday to borrow more money from the public.

The big money is calling a halt to the surge in stock prices.

Gasoline futures tumbled almost 8 percent Wednesday after a government report added more evidence that Americans are driving less because of higher pump prices.

The price of gasoline continues to rise and is now a few pennies away from $4 a gallon.

Instead of addressing the dismal unemployment picture during Wednesday’s press conference, Ben Bernanke bent to the inflationistas.

Economic growth braked sharply in the first quarter as higher food and gasoline prices dampened consumer spending and sent inflation rising at its fastest pace in 2-1/2 years.

In his first regular news conference, Federal Reserve Chairman Ben Bernanke said the central bank was continuing its stimulus policy because it was projecting slower growth in the economy with only a modest uptick in inflation.

Though many drivers say they're not price hunting or changing their driving habits, some businesses are hurting

One of the most significant trends at the New York Auto Show is the emergence of value cars.

Gas prices jumped more than 11 cents over the past two weeks, but the pace of higher pump prices has slowed and they may have peaked, according to a survey published Sunday.

COMMENTARY | Less than a year ago I bought an SUV. A big one. Seats eight and can easily accommodate my two daughters, a soon-to-be-step daughter, my fiance, and the dog. It seemed to be the perfect purchase for a budding family with places to go and things to do.

If this isn't the Great Depression, it is the Great Humbling. Can manhood survive the lost decade?

Timothy Geithner says borrowing more from China to finance tax cuts for the most affluent Americans would be irresponsible.

Oil surged above $112 a barrel Friday following a drop in the dollar and continued jitters about shipments from the world's major oil suppliers.

Consumers face serious inflation in the months ahead for clothing, food and other products, the head of Wal-Mart's U.S. operations warned.

Your Incredible Shrinking Paycheck

Despite four decades of promises to free the U.S. from its dependence on volatile foreign oil, the nation remains frighteningly vulnerable.

The rolling real estate crash that ravaged Florida and the Southwest is delivering a new wave of distress to communities once thought to be immune — economically diversified cities where the boom was relatively restrained, the New York Times reports.

Vice President Joe Biden on Tuesday announced an ambitious $53 billion U.S. program to build new high-speed rail networks and make existing ones faster over the next six years.

There is enough spare Opec capacity

Visualizing Obama's budget cuts. Student Explains Obamanomics in 1 Minute

NEW YORK (AP) -- The price of oil is poised for another run at $100 a barrel after a global economic rebound sent it surging

A personal case study looks at some of the ways higher taxes may affect the earnings of high-income taxpayers.

The Federal Reserve is undertaking a "dangerous gamble" by keeping rates at near zero for so long, and must start raising rates or risk damaging the nascent U.S. recovery, a top Federal Reserve official said on Friday.

Mortgage rates are the most affordable in decades for those who can qualify for a loan.

Unemployment is higher than expected, and as the midterm elections near, the question is what to do about it.

This year is supposed to be like 1932. That’s what you would believe after reading commentators who compare current patterns in the Dow Jones Industrial Average to those at the end of Herbert Hoover ’s presidency.

Arthur B. Laffer writes in The Wall Street Journal that increasing unemployment benefits will not have a stimulative effect on the economy but it will reduce the incentive to find work. A federal tax holiday is a better way to cut the high jobless rate.