A day after Federal Reserve officials warned that the pace of the nation’s recovery had slowed, a trio of reports released on Wednesday cast a new shadows over the global economy.
First came news from China suggesting that nation’s fast-growing economy was cooling. Then the Bank of England reduced its already-diminished forecast for the British economy.
Finally, new trade figures from Washington showed that American exports were faltering, a sign that hard-pressed domestic manufacturers could not rely on overseas markets to ease their pain at home.
Together, the reports unnerved financial markets that were still edge from the Fed’s downbeat news on Tuesday. The stock market tumbled anew in 265-point decline that drove the Dow Jones industrial average back into the red for the year. The broad market fell 2.8 percent.
The optimism had pervaded Wall Street only weeks ago has faded quickly. In its place is a growing realization of what many ordinary Americans have been feeling in their bones: this is not the economic recovery the nation had hoped for. Indeed, while the economy is growing again, it is growing too slowly to create many jobs or boost household incomes.
) could have guessed
I think Oregon teachers typically make about 50k. But I suppose the cost of living is significantly different in Cali
