Economy Now

Instant reaction and smart charts on economic trends.
Author Archives: Charles Riley
  • Romney: I'll get unemployment down to 6%

    Mitt Romney told our friends at TIME on Wednesday that he will get the unemployment rate to 6% by the end of his first term. (CNNMoney and TIME are both owned by Time Warner.)

    "Over a period of four years, by virtue of the policies that we put in place, we'd get the unemployment rate down to 6%, and perhaps a little lower," Romney said. "It depends in part upon MORE

    - May 23, 2012 3:22 PM ET
  • Private equity: Choose your own adventure

    What is the average American to think of private equity?

    The industry, which used to never get mentioned in the pages of political rags or on talk shows, is well on its way to becoming a campaign touchstone.

    Just this week, President Obama declared private equity a legitimate campaign target. His campaign released a two minute ad focused on Bain Capital's takeover of Kansas City-based GST Steel. Vice President Joe Biden added MORE

    - May 23, 2012 12:24 PM ET
  • Election 2012: Bain is here to stay

    President Obama has made one thing very clear: He will be talking about Bain Capital a lot between now and Election Day.

    "This is what this campaign is going to be about," Obama said Monday after drawing a distinction between what Mitt Romney did as CEO of Bain Capital and what is expected of a president.

    Obama's comments came at an unlikely venue -- a NATO summit, of all things. But they MORE

    - May 22, 2012 3:33 PM ET
  • Obama's super PAC problem

    President Obama has a super PAC problem.

    After outspending Sen. John McCain by a wide margin in 2008, the incumbent president is in danger of losing the 2012 money race to Mitt Romney.

    Of course it's early, and Obama has a powerful fundraising machine. But the balance of power may well be upset as Republican super PACs have brought in much more money than pro-Obama super PAC Priorities USA Action.

    That group, which MORE

    - May 21, 2012 11:39 AM ET
  • Senators to Saverin: Don't come back. Ever.

    Eduardo Saverin's decision to leave the United States with his money, but not his citizenship, has apparently touched a nerve in the Senate.

    Sens. Chuck Schumer and Bob Casey held a press conference Thursday morning on Capitol Hill where they outlined legislation that would prevent the Facebook co-founder from ever returning to the United States.

    Saverin, who now lives in Singapore, renounced his U.S. citizenship earlier this year. He will become astronomically MORE

    - May 17, 2012 11:49 AM ET
  • Americans overwhelmingly favor big defense cuts

    With annual budget deficits now routinely topping $1 trillion, a majority of Americans favor cutting defense spending, according to a new survey.

    The survey, conducted by the Center for Public Integrity, the Program for Public Consultation and the Stimson Center, shows that 90% of Democrats and 67% of Republicans want less spending at the Pentagon.

    The survey's methodology is interesting. Instead of simply asking Americans whether they favor more, less or the MORE

    - May 10, 2012 4:03 PM ET
  • GOP candidates rack up debt

    Newt Gingrich's long-foundering presidential run is finally over, but the former House speaker's efforts to pay off his campaign debt are likely just beginning.

    The Gingrich campaign, as of the last reporting period, owes $4.3 million to creditors, including pollsters, staffers, consultants, lawyers and event venues.

    The campaign owes Moby Dick Airways, an air charter company, more than $1 million. Another $450,000 is owed to a security firm called Patriot Group. Tech MORE

    - May 3, 2012 12:38 PM ET
  • Romney declares victory, asks 'are you better off?'

    After winning primary votes in Connecticut, Delaware, New York, Pennsylvania and Rhode Island on Tuesday night, Mitt Romney bid adieu to his Republican opponents and turned his attention to President Obama and the general election.

    In his victory speech, Romney argued that the president's economic policies have failed, and invoked Ronald Reagan's famous query to voters: "Are you better off than you were four years ago?" Here's what Romney said:

    Four years MORE

    - Apr 25, 2012 12:09 PM ET
  • Catholic groups spar with Paul Ryan over budget

    Rep. Paul Ryan is scheduled to deliver a speech at Georgetown University later this week, but he is unlikely to receive a standing ovation from some members of the faculty.

    Almost 90 faculty members at the prestigious Jesuit school have signed a letter to Ryan that claims the Republican budget guru is misinterpreting Church doctrine as it relates to the role of government in public life.

    "We would be remiss in MORE

    - Apr 24, 2012 3:28 PM ET
    Posted in: ,
  • SEC rule hits Romney fundraising

    The Wall Street Journal reports that Mitt Romney's new "Victory Fund"  -- a joint effort between the campaign and the Republican National Committee -- has encountered a minor stumbling block.

    Deep pocketed Wall Street donors, many of whom are thought to favor Romney, are being warned by their firms to limit donations. Here's the Journal:

    "[The Victory Fund] asks donors to give as much as $75,800, including donations to Mr. Romney's primary MORE

    - Apr 23, 2012 12:31 PM ET
  • Surprise! Budget mess rolls on

    Congress and the White House took another few steps away from conducting a well-reasoned, bipartisan budget process on Wednesday, as Democrats and Republicans let loose another round of ultimatums and rhetorical bombs.

    Let's start with the battle between House Republicans and the White House. Last year, with just hours to spare before a voluntary default on the nation's debt, Congress passed a piece of legislation called the Budget Control Act.

    Along with MORE

    - Apr 19, 2012 11:30 AM ET
  • Fiscally-distressed country's king goes elephant hunting

    What do you get a king whose country has 23% unemployment, rapidly rising bond yields and mounting sovereign debt problems?

    A secret, luxurious, elephant hunting trip to Botswana, of course.

    At least that's how Spain's 74-year old King Juan Carlos was busying himself last week before falling and hurting his leg, an injury that required his royal highness to be rushed back to Madrid for replacement surgery on his right MORE

    - Apr 18, 2012 11:44 AM ET
  • Romney's economic brain trust

    The long trek to the White House is never made alone. Instead, candidates pick up all manner of consultants, pollsters, advisers, press officers and wanna-be appointees along the way.

    Mitt Romney, now considered his party's presumptive nominee, has his own team of four economic advisers. Harvard economist Greg Mankiw and Columbia Business School's Glenn Hubbard hail from academia.  Former Sen. Jim Talent and Rep. Vin Weber bring knowledge of Washington's hallways MORE

    - Apr 18, 2012 5:00 AM ET
  • Romney hints at tax changes

    One of the biggest knocks on Mitt Romney this election cycle is that his policy proposals have lacked specificity -- especially when it comes to how much the government should tax, and what programs it should spend that revenue on.

    But on Sunday, a few new details were revealed as reporters were able to eavesdrop on a closed Romney fundraiser.

    We know Romney wants to cut income tax rates MORE

    - Apr 16, 2012 11:43 AM ET
  • What kind of car is Obama?

    If President Obama was a car, what kind of car would he be and why?

    That's the question Resurgent Republic, a conservative polling and advocacy group, asked independent voters in Virginia and Colorado recently. The focus group members all voted for Obama in 2008, but are undecided heading into this year's general election.

    The answers, to say the least, varied.

    One voter said Obama is most like a Yugo. Yes, the subcompact MORE

    - Apr 12, 2012 1:17 PM ET
About This Author
Charles Riley
Charles Riley
Reporter, CNNMoney

Charles Riley lives and works in Hong Kong, where he covers markets, economics and other high-impact stories across Asia. He previously worked for CNNMoney in New York and CNN in Washington. He tweets @CRrileyCNN

Overnight Avg Rate Latest Change Last Week
30 yr fixed4.30%4.31%
15 yr fixed3.69%3.64%
5/1 ARM4.15%4.02%
30 yr refi4.27%4.26%
15 yr refi3.66%3.60%
Rate data provided
View rates in your area
Find personalized rates:
Economic Calendar
Latest ReportNext Update
Home pricesAug 28
Consumer confidenceAug 28
GDPAug 29
Manufacturing (ISM)Sept 4
JobsSept 7
Inflation (CPI)Sept 14
Retail sales Sept 14
Powered by VIP.