Rich Miller

September 15, 2010 | Daily Report Online

Reports of the demise of the U.S. consumer have been exaggerated. Households are reducing their debts and building savings faster than he anticipated, said Richard Berner, co-head of global economics for Morgan Stanley in New York, giving them more room to spend in the future. "The deleveraging timetable is nearly a year ahead of schedule," he said.

By Rich Miller

7 minute read

June 30, 2009 | Daily Report Online

Saks Fifth Avenue is cutting orders 20 percent after posting losses in the last four quarters. Kia Harris says some customers at the Washington shoe store where she works are buying one pair rather than three. In the recession following a borrowing binge that sent consumer debt to the highest level ever, Americans are shutting their wallets and building their nest eggs at the fastest pace in 15 years.

By Rich Miller and Alison Sider

6 minute read

November 17, 2009 | Daily Report Online

Federal Reserve Chairman Ben S. Bernanke has succeeded in returning the U.S. economy to growth after the longest contraction in more than six decades. So far Wall Street, not Main Street, has been the primary beneficiary. Bernanke, who spoke Monday at the Economic Club of New York luncheon, has helped spark a 62 percent rally in the stock market since March 9 by pledging to keep borrowing costs "exceptionally low" for "an extended period.

By Michael McKee and Rich Miller

7 minute read

April 28, 2009 | Daily Report Online

Ronald Reagan used to joke that the nine most terrifying words in the English language were "I'm from the government and I'm here to help." Barack Obama is making those words welcome. As he approaches his 100th day in office, Obama is rolling back the Reagan Revolution and restoring government to a central role in the economy.

By MATTHEW BENJAMIN and RICH MILLER

9 minute read

April 20, 2010 | Daily Report Online

Surging profits are prompting economists to revise their estimates for growth, tilting the recovery more in the direction of a V-shape as businesses from Intel Corp. to JPMorgan Chase Co. boost spending."Companies have a lot more capital, and they're going to deploy it for equipment and hiring rather than sit on it, said Joseph LaVorgna, chief U.

By Shobhana Chandra and Rich Miller

7 minute read

July 17, 2007 | Daily Report Online

RISING PRICES FOR FOOD, from yogurt in the U.S. to steak in South Africa, are causing heartburn at the world's most powerful central banks. The fastest increase in food-commodity prices in at least a decade has already led monetary authorities in England, Mexico, Chile and South Africa to lift borrowing costs. It is also sowing seeds of doubt about the U.

By Rich Miller and Bob Willis

6 minute read