Filed under: Economy

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American to park 10% of MD-80s as it cuts U.S. capacity

American Airlines plans to park about 10 percent of its MD-80 fleet this year and trim domestic capacity to stem losses from sky-high fuel prices. Get the full story »

Chicago Fed: U.S. financial conditions loosened

Financial conditions in the U.S. loosened slightly over the past week and remain looser than would be expected at the current stage of the economic cycle, according to the new index from the Federal Reserve Bank of Chicago. Get the full story »

Despite tractor boom, Deere CEO wary of recovery

Deere CEO Samuel Allen. (AP/Deere)

Federal Reserve officials are correct to worry more about stimulating the U.S. economy than about inflationary price pressures bubbling in the fuel and food sectors, the chairman and chief executive of Deere & Co. said Tuesday.

In an interview, Samuel R. Allen said he worries about the strength of the U.S. recovery even though the farm equipment giant he leads is reaping the benefits of a global farming boom he expects to continue for years. Get the full story »

Gold tops $1,500 an ounce on economic concerns

Gold prices topped $1,500 an ounce Tuesday as investors looked for more stable assets because of worries about U.S. government debt, European financial problems and inflation. Get the full story »

Geithner says U.S. won’t lose AAA rating

Treasury Secretary Timothy Geithner said on Tuesday there is no risk the United States could lose its top-tier AAA credit rating as politicians move closer to agreeing on how to slashing the massive U.S. debt. Get the full story »

S&P threatens to cut U.S. credit rating on deficit

Standard & Poor’s threatened Monday to downgrade the United States’ prized AAA credit rating unless the Obama administration and Congress find a way to slash the yawning federal budget deficit within two years. Get the full story »

Poll: US economy improving despite global events

Economists say the U.S. economy is gaining strength despite political unrest in North Africa and the Middle East and last month’s devastating earthquake and tsunami in Japan. Get the full story »

Factories boost output for 9th straight month

U.S. factories produced more consumer goods, business equipment and raw materials in March, boosting manufacturing activity for the ninth straight month. Get the full story »

China, India prices show global inflation on rise

China and India both reported higher-than-expected inflation readings on Friday, giving fresh ammunition to central bankers and investors alike who are worried about mounting price pressures in the global economy. Get the full story »

Fed officials: Inflation muted, policy on course

The recent surge in oil prices is no prelude to broader price increases that would force the U.S. Federal Reserve to raise interest rates, two top Fed officials said on Thursday. Get the full story »

Hiring momentum builds, expected to continue

A year ago, a false start in business hiring came to a sudden end when the economy started to slow. But experts believe the nascent hiring boom has a better chance of weathering the economic headwinds this time around. Get the full story »

Obama to host town hall at Facebook headquarters

President Barack Obama’s 2012 re-election campaign is under way and, in what may be a nod to the influence of social media on his presidency, he’s hosting a town hall-style meeting on April 20 at Facebook headquarters to talk about the economy.

Caterpillar CEO: Company staying in Ill. for now

Caterpillar CEO Doug Oberhelman at a panel at the U.S. Export-Import Bank in Washington, D.C., March 31, 2011. (Andrew Harrer/Bloomberg)

Caterpillar Inc. leader Douglas Oberhelman emerged from a one-hour meeting with Gov. Pat Quinn Tuesday morning, assuring that the Peoria-based manufacturing titan intends to stay put and help push for improvements in the state’s business climate. Get the full story »

Fed officials split on easy money, minutes show

Some Federal Reserve officials last month believed they would have to hold to an easy monetary policy course beyond this year while a few said the central bank should move to tighter conditions before year-end. Get the full story »

Quinn unveils proposed workers’ comp reforms

Monique Garcia and Ray Long | Clout Street| Gov. Pat Quinn on Friday unveiled his proposed overhaul of the state’s workers’ compensation system, suggesting changes his office says will save employers money while preventing potential abuses that have attracted the attention of downstate federal prosecutors.

The governor’s plan to change the way workers are paid after injury or illness on the job includes limiting payments for injuries such as carpal tunnel syndrome and slashing the amount doctors and hospital receive for treating hurt workers.