The U.S. economy is like a horse... and should be playing baseball

As usual, today's congressional hearing featuring Federal Reserve Chairman Ben Bernanke didn't disappoint when it comes to tortured metaphors for the U.S. economy.

Here's this gem, courtesy of Senator Dan Coats, a Republican from Indiana:

THE U.S. ECONOMY IS LIKE A HORSE, BUT WHERE THE HECK IS IT?

Chairman Bernanke, sometime earlier you and I had a conversation, and I asked you the question about why the United States was doing relatively better than its MORE

Bring on the cupcake deflation!

Not only is the cupcake craze truly winding down, it's leading to some Twitter fun among econ nerds this Thursday morning.

When the Labor Department released its latest Consumer Price Index -- a key measure of inflation -- it contained a detailed breakdown that showed cupcake prices are falling.

Follow the hashtag #CupcakeDeflation to get in on the meme, started by Justin Wolfers -- the same economist who brought us the beloved MORE

Falling gas prices lead inflation lower for second month

You paid less for gasoline in April, and that led overall inflation lower for the second month in a row.

The Consumer Price Index, a key measure of inflation, fell 0.4% in April, according to the Labor Department. Compared to a year earlier, prices are up only 1.1%, a level of inflation that's considered rather low.

Falling gas prices were the main driver for the broader decline for the second month in MORE

One spot where government spending is going up

Amid constant stories of sequester-related cuts, here's a rare place where the government is increasing its spending: The Bureau of Labor Statistics recently ramped up its monthly survey of businesses, leading to the highest response rate on record for the February jobs report.

Perhaps that's one reason the revisions were so large.

Here's what happened: When the Labor Department released the jobs report Friday morning, it wasn't just the April numbers that came MORE

April jobs report preview: More slow hiring ahead

The Labor Department will release its latest update on the U.S. job market Friday morning, and the outlook is neither rosy nor gloom and doom. Economists surveyed by CNNMoney are expecting 140,000 jobs were created in April.

While that would be an improvement compared to the meager 88,000 jobs added in March, it's really not much to write home about either. Over the past 12 months, the U.S. economy added an MORE

Who brings home the bacon: Mom or Dad?

Are both you and your spouse unemployed? How do you make ends meet? Send your story to annalyn.kurtz@turner.com.

Housing is key to Fed's ability to reach middle class

Although the Fed has been juicing the economy since late 2008, it doesn't feel that way to many people on Main Street. That's because a key part of the process has broken down.

Tight credit and a large number of underwater homeowners means that many middle-class Americans simply haven't been able to benefit from the Fed's low interest rates.

Now that the housing recovery is underway, that could change, said Federal Reserve MORE

The Fed's Bullard thinks inflation is dangerously low

Cue the flashback to summer 2010. Ben Bernanke and other officials at the Federal Reserve were warning that inflation was approaching dangerous lows, perhaps even flirting with the dreaded "D" word -- deflation. Bernanke gave a key speech in Jackson Hole that August hinting that more Fed stimulus might be in the pipeline. Sure enough, it was. The Fed launched QE2 about two months later.

A similar murmur is starting up again: MORE

For every job opening, there are 3 unemployed Americans

The number of job openings rose in February to 3.9 million, according to the Labor Department's JOLTS report released Tuesday. This is good news if it translates into new hiring in the next few months.

About 12 million Americans were still unemployed in February, which means for every job opening, there are roughly 3.1 unemployed workers.

By this metric, you can see that the job market has improved substantially since 2009, when MORE

When will the Federal Reserve be led by a woman?

Janet Yellen is the favorite pick for next Federal Reserve chair, should Ben Bernanke step down after his second term ends next January.

At least, that's according to the latest chatter among Fed watchers, including Neil Irwin at the Washington Post's Wonkblog and The Economist.

Of course, neither Yellen nor Bernanke have commented publicly on the matter.

In its 100-year history, the Federal Reserve has never been led by a woman, and worldwide, MORE