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Low Prices, Weak Hiring Raise Odds of Fed Action
Associated Press (06/14/12) Christopher S. Rugaber
Federal data released Thursday indicate the job market is softening, and consumer prices are barely rising. Some economists say the U.S. Federal Reserve will likely announce a new move next week to support the economy. Economists say the Fed is likely to extend “Operation Twist,” a program that aims to further lower long-term interest rates to boost borrowing and spending. The economists are predicting slower economic growth and say job growth in June is unlikely to be much better than it was in April or May.
U.S. Industrial Output Falls
Wall Street Journal (06/15/12) Tom Barkley; Ian Talley
U.S. industrial production weakened in May as output of cars and other items slowed, according to data released today by the U.S. Federal Reserve. Industrial production slipped a seasonally adjusted 0.1% in May after gaining 1% in April. April’s reading was downwardly revised from an initially reported 1.1% expansion. Capacity utilization also declined, easing to 79.0% from 79.2% the previous month. Economists surveyed by Dow Jones Newswires had expected a 0.1% rise in output and capacity utilization of 79.2%.
Lockheed Brings in More Workers as Strike Drags On
Reuters (06/14/12) Andrea Shalal-Esa
Lockheed Martin Corp. says it plans to hire additional temporary employees at its Fort Worth, TX plant, where a union has been on strike for eight weeks. According to Lockheed spokesperson Joe Stout, the company already had hired nearly 300 temporary employees. The company is under intense pressure from the Pentagon to reduce labor costs.
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