Charlie Herman

How closely tied are the financial markets to the economy at large? In reaction to the country’s credit rating downgrade on Friday the markets had their worst day since the 2008 financial crisis yesterday as the Dow Jones dropped about 635 points and the Nasdaq was down 175. But do these numbers affect our country’s ability to create jobs? Do they have any meaningful relationship to consumer confidence, the arguable engine of our economy?

U.S. stock markets fell quickly Monday morning after Standard and Poor's cut the nation's credit rating. After opening Monday, the Dow Jones was down nearly 350 points — or more th...

Credit ratings agency Standard and Poor's downgraded the U.S.'s credit rating for the first time in history on Friday, causing jaws to drop across the country, and raising the blood-pressures of leaders worldwide as many held emergency meetings to fend off any backlash this news might create. President Obama will be preparing this week for his upcoming bus tour to reconnect with voters in the Midwest. Meanwhile, News Corp. will release their fourth quarter results on Wednesday, the PGA Championship kicks off on Thursday, and Dennis Rodman will be inducted into the Basketball Hall of Fame on Friday.

There was a glimmer of good news Friday morning in the U.S jobs report, which beat many forecasters’ estimates. Speaking in Washington, President Barack Obama said “We are going to g...

Thursday was a bad day for the markets as the Dow fell 513 points, or more than 4 percent. Why? Continued worries about Europe, Italy and Spain in particular, plus some sell-off th...

Despite Congress finally passing a debt deal and President Obama signing off on the plan yesterday, the national mood was not celebratory. It's been a bad week for the economy, and it appears that it will only get worse. Last Friday, G.D.P. data showed disappointing economic activity in the nation's second quarter, and this week the Commerce Department released a report showing consumer spending fell in June. New employment figures, the economic indicator used to gauge growth, will be released Friday, and many are expecting them to be dismal.

The August 2 deadline for Congress to agree on a budget deal and avoid defaulting is looming uncomfortably close. Last night, President Obama and Senate Majority leader Harry Reid said tonight that congressional leaders of both parties have agreed on a plan to lift the debt ceiling. They will present the plan to their caucuses this morning, and hope for the measure to pass through votes by both the House and Senate, in order to avoid a U.S. default by August 2.

As Congress continues the debate raising the nation's debt ceiling, executives at the nation's largest banks are meeting with Treasury officials at the Federal Reserve Bank of New York.

The methodical killing of over 90 people by a gunman in Norway over the weekend has gripped the world with horror. The accused, Anders Behring Breivik, is currently in police custody, and has said he acted alone. Marcus Mabry, editor-at-large of The International Herald Tribune, the international edition of The New York Times, believes this tragic event has made Europe aware of a different kind of threat that they never knew was out there - extremist right-wing groups.

Charlie Herman, business & economics editor for The Takeaway and WNYC, and Kai Wright, editorial director for ColorLines, give their analysis on the major stories of the week.

Diane Swonk, Chief Economist for Mesirow Financial, and WNYC business and economics editor Charlie Herman discuss the debt ceiling negotiations, recent jobs numbers, and other economic news.

The Federal Bureau of Investigation has opened an investigation into allegations that News Corp.'s U.K.-based tabloid News of the World tried to hack into the phones of victims of September 11, 2001, a law enforcement official confirms the investigation to WNYC.

A group of News Corp shareholders is suing the company over the phone-hacking scandal that led to the company shutting down its British news paper, News of the World.

Negotiations over the debt ceiling continue this week, and we're taking a look at the economic impact of the trillion dollar talks. What do the latest figures for unemployment, at 9.2 percent, suggest about corporate earnings, which will be out this week?

Robert Gates will step down as Secretary of Defense this week, with Leon Panetta taking over. Panetta will have a lot on his plate, starting with the start of U.S. troops withdrawing from Afghanistan later this week. Noel King, managing producer for The Takeaway, looks at what obstacles are in store for Panetta as he begins his reign as Defense Secretary. 

President Obama will meet with Congressional leaders to try and come to an agreement on raising the debt ceiling, or face going into default. Charlie Herman, business and economics editor for The Takeaway and WNYC, looks at the economic effects this on-going debate could have if a conclusion is not reached soon. 

All the jawing and insult throwing has ceased for the time being as negotiations heat up on Capitol Hill over the debt ceiling. Vice President Joe Biden said there are four meetings scheduled, and "now we're getting down to the really hard stuff." Todd Zwillich, The Takeaway's Washington Correspondent, says Congress would love to get an agreement by the 4th of July—way ahead of the deadline in August. 

As Washington tries to get the debt ceiling squared away, the Federal Reserve will meet on Wednesday to discuss interest rates. Housing numbers have been consistently awful for some time now, with no sense of relief in sight. Charlie Herman, economics editor for The Takeaway and WNYC, looks at what we can expect from Wednesday's meeting, and whether or not it's likely that the Fed will decide to leave interest rates close to zero.

The GOP will see it's first major debate with all its prominent players in New Hampshire today. Mitt Romney, Newt Gingrich, Michele Bachmann, and Rick Santorum are all expected to participate. Todd Zwillich, The Takeaway's Washington correspondent, is most interested in how Bachmann and Santorum try to "out-conservative" each other to gain the following of those who don't support Mitt Romney. A topic that will surely be a key part of the debate will be the poor state of the economy. A set of key economic indicators is set to be released this week. Charlie Herman, economics editor for The Takeaway and WNYC, is expecting retail sales to fall, and a stock market finishing down for six weeks in a row is certainly not helping either. 

President Barack Obama arrives in Ireland today, as he begins is week long trip to Europe. His stops include the UK, France, and Poland. Jason Stallman, editor for the national desk at The New York Times, looks at what we can expect in the week ahead on this trip. 

As the president journeys through Europe, a number of key economic indicators is set to be released, including GDP figures. Charlie Herman, economics and business editor for The Takeaway and WNYC, crunches the numbers for us and tells us if good things are ahead for our economy.

A flurry of housing reports Thursday, and the market is not looking very healthy.

While Washington continues tp debate the debt ceiling, the United States is expected to reach the limit on its debt today. This means the government will no longer be able to borrow money. Charlie Herman, business and economics editor for The Takeaway and WNYC Radio, says it's just a mystery what will happen, because we're not seeing any deals on the table yet. There are questions about the future of the International Monetary Fund after its managing director, Dominique Strauss-Kahn was arrested in New York for allegedly sexually assaulting a Manhattan hotel maid.