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Economist attacks US 'inequality'

The richest 1% of Americans now hold 25% of the country's wealth and more needs to be done to boost equality, says Nobel Prize winning economist Joseph Stiglitz in Davos.

 

Economists give Obama 'mediocre' marks

President Obama is getting 'mediocre' marks for his handling of the economy from a group of economists polled by the Associated Press.

Senh: Mediocre is better than poor, considering our economy's in the gutter. That's actually not bad for Barack Obama.

 

Economy grew at weak 1.3 pct. rate in April-June period; slight improvement seen rest of year

The economy grew slightly faster in the spring than previously estimated but remained dangerously weak in the face of high unemployment and higher gas prices. Many economists foresee slightly better growth in the current July-September quarter. The annual growth rate was 1.3 percent in the April-June quarter, up from an estimate of 1 percent made a month ago, the Commerce Department said Thursday. The improvement reflected modestly more consumer spending and a bigger boost from trade.

 

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