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Jon Talton

Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.

February 28, 2014 at 10:19 AM

Vote: A new slowdown?

Federal Reserve Chair Janet Yellen testified this week that the central bank is concerned about data showing a weaker economy than it had expected this year. Today, the government reported that gross domestic product grew at a revised annual rate of only 2.4 percent in the fourth quarter of last year, compared with the initial sounding of 3.2 percent.

The GDP growth is considerably slower than the third quarter’s 4.1 percent. Meanwhile, housing, consumer spending and industrial production have all slowed. Job growth remains weak, with about three job seekers for every available position. Also, the Congressional Budget Office released a dreary economic outlook.

What are you experiencing in your job, income and business?

This Week’s Links:

Exxon Valdez oil is still polluting Prince William Sound 25 years later | Motherboard

No consistent safe-haven assets, but the U.S. remains special | Vox

Five years after the crash, another flip in housing | Washington Post

The smart money quietly abandons the housing market | Naked Capitalism

Why a plan to build a canal across Nicaragua could be a very bad idea | Wired

Keystone XL and the petro-states of America | BusinessWeek

The cost of bad 401(k) plans | Baseline Scenario

Does tackling inequality reduce growth? No. | The New Yorker

The death of a statistic and the end of the export price program | Tim Taylor

Federal deficit falls at sharpest rate since the end of World War II | Seeking Alpha

Today’s Econ Haiku:

The Big Dig did dig

Seattle scooped a new path

But we’re stuck, you dig?

Comments | More in Economy

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