The Norman Transcript

Opinion

March 8, 2013

More encouraging news

NORMAN — A report on the nation’s economic well-being and two-day, record-setting stock market performances provide more encouraging news as businesses look to close the first quarter in coming weeks.

A Federal Reserve survey found 10 of the Fed’s 12 banking districts reported moderate or modest growth in January and February. Only the Chicago and Boston districts reported slow growth.

The report, called the Beige Book by the Associated Press, found growth in housing, jobs and consumer spending in most areas of the country. It’s just part of the data that Federal Reserve governors will digest before setting interest rates at their meeting this month.

Many economists believe the Fed will keep interest rates low to further stimulate job growth, manufacturing, automobile and housing starts. The nation’s unemployment rate was 7.9 percent in January when the Fed last met.

The report uses anecdotal information and closed out before the automatic federal spending cuts that kicked in March 1. But most of the data came after workers paid in more to Social Security beginning Jan. 1 and faced higher gasoline costs. It also came as the highest-paid workers faced higher income taxes.

For local news and more, subscribe to The Norman Transcript Smart Edition, or our print edition.

1
Text Only | Photo Reprints
Opinion
  • Congress should close gaps

    Of all of Edward Snowden’s revelations about electronic surveillance by the National Security Agency, the most unsettling was that the government was accumulating vast numbers of records about the telephone calls of American citizens. In ...

    July 27, 2014

  • Border obsession overlooks trade

    Texas Gov. Rick Perry made headlines recently by ordering 1,000 National Guard troops to the border. This bravado comes at a price: $12 million a month. Perry plans to send the bill the federal government. That’s one way to finance your ...

    July 27, 2014

  • Intercession badly needed in this world

    Yesterday was my feast day, or as the Italians call it, my “onomastico.” Since I live in the United States, it went completely unnoticed. If I lived in Italy, however, I would have been showered with cards and phone calls. That’s because ...

    July 27, 2014

  • Help better than commentary

    For the last seven years, I have helped run Hands Helping Paws, an animal welfare and rescue group that fosters Norman’s abandoned animals and advocates for spay and neuter initiatives to reduce our community’s problems with stray and ...

    July 27, 2014

  • Stick to the sports

    Editor, The Transcript: Why must we, especially us nice conservatives, be subjected to political commentary in a sports column? I hear/view Fox News routinely and find their coverage quite acceptable. I also hear/view CNN and MSNBC. I ...

    July 27, 2014

  • Corporation Commission should should evaluate quakes, fracturing

    Editor, The Transcript: Is your house at risk of being damaged in an earthquake because of fracking? Maybe. We’ve seen more earthquakes and tremors in Oklahoma seven months into 2014 than in the two previous years combined. At the same ...

    July 27, 2014

  • Norman can stop fracking before it escalates

    Editor, The Transcript: There are 163 fracked wells within Norman city limits. With growing attention to health and safety concerns, the city is considering changes to the existing oil and gas ordinance....

    July 27, 2014

  • We should be offended by things that matter

    Editor, The Transcript: I’m offended. Why you say? I live in the USA, in Norman — a great town. What could possibly offend me? I’ll tell you. It’s people that are offended by the most meaningless things (what to call an evergreen tree in ...

    July 27, 2014

  • Porch leap looked muchbigger as a kid

    It’s no secret that porch designs have changed over the years. Drive through new Norman developments and look at the porches. Most only have room for a potted plant and a spot to drop those UPS packages, no place for a porch swing or ...

    July 27, 2014

  • State, local jobmarkets look up

    A tight labor market is often a big problem for economic development professionals. They need to be able to promise companies that there are willing workers in the community’s labor pool....

    July 26, 2014