Post-Harvey Houston: Years Until Recovery, Plenty of Costs Unknown

When the heaviest rain of tropical storm Harvey had passed, Kathryn Clark’s west Houston neighborhood had escaped the worst. Then the dams were opened — a decision by the U.S. Army Corps of Engineers to prevent upstream flooding and potential dam failures by releasing water into Buffalo Bayou, just a few hundred feet from the end… Please follow and like us:

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US economy sees 3% growth, shrugging off hurricanes

The US economy continued to expand at a robust three percent clip in the third quarter despite back-to-back hurricanes, hitting President Donald Trump’s growth target for the second time since he took office, official data showed Friday, GDP growth in the world’s largest economy had its best six-month stretch since mid-2014, handily absorbing the shocks of… Please follow and like us:

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US loses 33,000 jobs in September after hurricanes slam Texas, Florida

WASHINGTON — Hurricanes Harvey and Irma walloped the labor market last month, causing the nation to lose jobs for the first time in seven years, the Labor Department said Friday. Total nonfarm employment declined by 33,000 net jobs in September compared with an upwardly revised gain of 169,000 the previous month. The Labor Department said 1.5… Please follow and like us:

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This hurricane season has been brutal—but it’s not over yet. What’s coming next?

At least we’ve passed the peak. The Atlantic Ocean on September 28, 2017. CIRA/RAMMB/NOAA We’re finally past the peak of hurricane season in the Atlantic Ocean. This is welcome news for folks who live along the coast, but by no means are we out of the woods yet. Hurricane seasons—especially years this active—can crank out some… Please follow and like us:

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US Federal Reserve keeps interest rates unchanged

The US Federal Reserve kept its benchmark interest rate unchanged Wednesday and announced the gradual end to a crisis-era stimulus program in a sign the economy is on sound footing. The Fed statement following its two-day policy meeting noted that the devastation caused by Hurricanes Harvey, Irma and Maria are “inflicting severe hardship” on communities. However,… Please follow and like us:

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Federal Reserve will start reducing stockpile of bonds it bought to stimulate the economy

WASHINGTON — it bought to try to stimulate the economy, another milestone in the central bank’s efforts to return to a normal monetary policy after the Great Recession. The long-awaited reduction in the Fed’s $4.5 trillion balance sheet comes… Please follow and like us:

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Hurricane Update: Refinery Restarts, Fuel Supplies Rise

Much of the energy-related news from hurricane-recovery areas of Texas and Florida continues to be encouraging. Shell said it was restarting its Deer Park refinery in the Houston area that was shut down three weeks ago with the approach of Hurricane Harvey. ExxonMobil said it could start most of the production units at its Beaumont, Texas,… Please follow and like us:

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Fed rate hike remains uncertain after Harvey, Irma

Two hurricanes slammed into the United States within two weeks, taking a bite out of economic growth, and adding to doubts about the potential for a third interest rate hike this year. The Federal Reserve is widely expected to leave interest rates untouched after the two-day policy meeting this week, but economists are split on whether… Please follow and like us:

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Harvey Update: Price Impacts And The Need For Patience, Consideration

The U.S. Energy Information Administration (EIA) reports on rising gasoline prices in the wake of Hurricane Harvey and notes that the storm’s impact on prices is similar to the big hurricanes of 2005, Katrina and Rita. EIA: Compared with other hurricanes that have made landfall in the United States since 2000, Hurricane Harvey’s impact on U.S.… Please follow and like us:

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Asian markets up as Trump debt deal diverts from N. Korea

Asian markets turned higher on Thursday as Donald Trump’s deal to raise the US debt ceiling gave investors some much-needed good news after the North Korea-fuelled sell-off this week. While tensions over Pyongyang’s weekend nuclear test remain high, Trump’s insistence to Chinese counterpart Xi Jinping that military action was not his “first choice” and a call… Please follow and like us:

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Trump cuts deal with Schumer, Pelosi, agrees to raise debt limit

President Trump and congressional Democrats on Wednesday did what Washington does best, striking a deal to boost borrowing and spending in order to keep the government running and to speed disaster relief to Texas and Florida. Mr. Trump struck the deal with House Minority Leader Nancy Pelosi and Senate Minority Leader Charles E. Schumer at a… Please follow and like us:

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Congress returns to a bruising agenda of must-do items and deepening discord

WASHINGTON — Congress returns Tuesday to a bruising September agenda of must-do items and deepening discord with the White House, leaving the Republican majority’s hopes for advancing its once-ambitious legislative priorities all but out of reach. Rather than emerging from the monthlong summer break with renewed legislative purpose, Republicans are approaching the weeks ahead, and its… Please follow and like us:

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Trump administration wants to tie Harvey relief money to debt ceiling

The Trump administration signaled Sunday it wants to attach funding for the Hurricane Harvey recovery to a bill to lift the debt ceiling, putting it at odds with House conservatives who specifically warned GOP leaders not to do that. The White House is requesting nearly $8 billion as a down payment on federal assistance for flood-ravaged… Please follow and like us:

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Potential GDP And Harvey

At a time when there’s more uncertainty than usual about what the U.S. Federal Reserve will do next and when the next interest raise will be, there’s even more talk about the economy’s potential. Where could the nation’s gross domestic product could be? How would a healthier consumer impact potential GDP? Get The REITs eBook in… Please follow and like us:

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Euro continues rise while Harvey leaves Wall St mixed

The euro extended its gains on Monday, trading at a two-and-a-half-year high against the dollar as currency traders believed a wind-down in European economic stimulus was not imminent. European stocks also fell while Wall Street was directionless, buffeted in large part by worries over a pounding delivered to US energy infrastructure by Hurricane Harvey. In much… Please follow and like us:

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