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Wall Street Journal
Economics Editor with the Wall Street Journal and blogger for its Real Time Economics
PROFILE
Sudeep Reddy
Guest
FROM Sudeep Reddy
Press Play with Madeleine Brand
What Does Greece’s Vote Mean for the U.S.? Greece was not partying quite like the U.S. Women’s soccer team last night. The current financial crisis there has resulted in empty grocery store shelves, closed banks, and long lines at ATMs. Even so, Greeks voted overwhelmingly yesterday not to accept the austerity measures imposed by their Eurozone creditors. What ripple effect might yesterday’s decision have, and could the unfolding Greek debt crisis even impact our economy?
Press Play with Madeleine Brand
The State of the Wealth Gap Oxfam reported in a study yesterday that the richest one percent will control more than half the world’s wealth by next year. The 80 wealthiest people in the world are now worth about as much as the poorest 3.5 billion. In the U.S., wealth inequality is worse than at any time since the Great Depression. But what has President Obama done to confront the issue, and what plans will he lay out in his State of the Union speech tonight?
Press Play with Madeleine Brand
The Economic Outlook Americans have been spending more money recently. The Commerce Department reports that the U.S. economy saw the fastest growth in 11 years last quarter. And the Dow has topped 18,000 for the first time in its history. This all sounds good, but is the growth in fact good news for everybody? And what could this mean for the economy in the coming year?
To the Point
America's Balancing Act in Asia After creating high expectations three years ago, President Obama is finally getting around to the so-called "pivot to Asia." Troubles with Congress, the Middle East and Ukraine have distracted attention from the region that's key to the future of the global economy. In the meantime, Japan, South Korea, the Philippines and other US allies are worried about the power of China, a country the US can't afford to antagonize. On this week's trip to four Asian countries, can the President clear up confusion about his military intentions and the prospect of a major trade agreement?
To the Point
This Month’s Jobs Report Disappoints on Several Levels If new job numbers for March hold up after future revisions, the news is bad indeed. With 125,000 new jobs needed to keep up with a growing workforce, just 88,000 were added to the economy. And federal action—or inaction—was part of the problem. Sudeep Reddy from the Wall Street Journal joins us.
To the Point
Payroll Tax Holiday Is Over, Are People Spending Less? The "payroll tax holiday” enacted two years ago to stimulate the economy expired on January 1. Retailers, restaurants and other businesses say that reduced take-home pay for consumers is taking a bite out of sales. Sudeep Reddy is economics reporter for the Wall Street Journal . He blogs at Real Time Economics .
Which Way, L.A.?
What Does Fiscal Cliff Deal Do for the Economy? Financial markets responded positively today to the last-minute legislation passed by Congress yesterday to avert some of the nation's most pressing fiscal problems. Global markets in the US, Europe and Japan opened with an early rally. Sudeep Reddy is economics reporter with the Wall Street Journal .
To the Point
What Does Fiscal Cliff Deal Do for the Economy? Financial markets responded positively today to the last-minute legislation passed by Congress yesterday to avert some of the nation's most pressing fiscal problems. Global markets in the US, Europe and Japan opened with an early rally. Sudeep Reddy is economics reporter with the Wall Street Journal .
To the Point
GDP Grows at a Slow 1.5% for 2nd Quarter of 2012 The good news is that the US economy grew in the second quarter of this year. The bad news is that it only grew 1.5%--weak but still better than most economists had expected.
To the Point
Disappointing Jobs Numbers The Labor Department reports a net gain of 115,000 jobs in April, another month with less growth than economists predicted. Mitt Romney seized the moment, calling the report "disappointing, and "way off from what should happen in a normal recovery." Sudeep Reddy is economics reporter for the Wall Street Journal and blogger for Real Time Economics .
To the Point
Unemployment Rate Dips, but Hiring Slows as Well Last month's unemployment rate dropped a tenth of a point to 8.2 percent, and that's good news, according to President Obama. Nevertheless, the President acknowledged that "it's clear to every American that there will still be ups and downs along the way and that we've got a lot more work to do." As always, there's more to the story than that "tick-down" in the unemployment rate. Sudeep Reddy is economics reporter for the Wall Street Journal .
To the Point
Obama Picks Surprise Nominee Jim Yong Kim for World Bank President Obama stunned the International financial community today by appointing Dartmouth College President Jim Yong Kim to lead the World Bank , even though he has no banking experience. One consequence of today's announcement is that economist Jeffrey Sachs of Columbia's Earth Institute dropped his bid and supported Kim "one hundred percent." Sudeep Reddy reports on economics for the Wall Street Journal .
To the Point
Unemployment Drops Again, Is the Economy Finally Warming Up? America's unemployment rate has dropped to its lowest level in almost two years, 8.5 percent, and this time it's not because more people gave up on looking for work. It appears tens of thousands actually got new jobs. Sudeep Reddy reports for the Wall Street Journal and blogs for Real Time Economics.
To the Point
Markets Up on Debt Deal, Down on Manufacturing Numbers There's still a lot of uncertainty about the debt-ceiling deal, but last night's announcement was enough to create a sigh of relief in the international markets. The US markets could be another story. Sudeep Reddy is economics reporter for the Wall Street Journal .
To the Point
IMF Chief Arrested in New York on Sexual Assault Charges Dominique Strauss-Kahn says he's not guilty, but he'll have to remain in a New York jail at least until his next court hearing for attempted rape and other charges. Strauss-Kahn is head of the International Monetary Fund and was the leading candidate to defeat French President Nicolas Sarkozy. He was arraigned today in Manhattan Criminal Court. Sudeep Reddy is covering the story for the Wall Street Journal .
To the Point
Fed Announces Big Bond Buy, Stocks Soar despite Jobless Numbers The Federal Reserve plans to buy $600 billion in US government bonds -- $75 billion a month — to drive down interest rates and encourage the borrowing that stimulates growth. Stock market investors love it, but some call it a "Hail Mary" pass by Fed Chairman Ben Bernanke. That's according to today's Wall Street Journal . Sudeep Reddy reports for the paper and blogs for Real Time Economics.
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KCRW Features
Lessons on rebuilding after the Woolsey and Thomas Fires Monique Quigley’s Christmas this year won’t be like any she’s ever had. Her home in Malibou Lake burned down in the Woolsey Fire last month. She lost nearly everything, including her house.
The Mixer
Heading for the fire exit Thousands of Californians are spending the holidays deciding what to do next after devastating wildfires. The Camp Fire – in northern California – took out nearly an entire town, killing at least 86 people. And the Woolsey Fire, closer to home, left 3 people dead, chewing through nearly 100,000 acres in L.A. and Ventura Counties. Ken Pimlott knows those names all too well. He heads up the California Department of Forestry and Fire Protection, and today is his last day on the job.
KCRW Features
One Year Later: Rebuilding from the Thomas Fire This week marks one year since the Thomas Fire descended on the city of Ventura. It burned more than 500 homes within city limits. Since then, roughly half of those properties have received the green-light to start construction, but only a handful have actually broken ground. We visit one neighborhood where some of the first homes are getting rebuilt.