American Morning
Who in D.C. actually has the power to create jobs? Jay Powell weighs in
On the heels of a new Gallup poll that shows that just twenty-six percent of Americans approve of how President Obama is handling the economy, the President is set to meet with his economic team today before he heads to Martha's Vineyard for vacation.
On his "listening tour" throughout the Midwest this week, Obama promised that he will be presenting his own jobs plan when Congress returns in September, but how much leverage does he actually have?
Today on American Morning, Jay Powell, Treasury Under Secretary under President H.W. Bush, talks with Christine Romans about the president's probable job plan and weighs in on who has the power to get companies to start hiring.
Is China on the path to becoming the world's next superpower?
Amid this week of financial turmoil in the United States, we have seen evidence of the growth and strength of China's economy. The country's first aircraft carrier began sea trials on Wednesday, and reports have been circulating that Chinese banks have signed leases on New York City landmark buildings such as the Empire State Building and One World Trade Center, the new skyscraper under construction at Ground Zero.
So, is China on the path to becoming the world's next superpower? Gordon Chang, columnist for Forbes.com, doesn't think so.
Chang talks with Christine Romans on American Morning today about why he thinks China's economy may actually be on the decline.
July Jobs: Unemployment rate falls slightly to 9.1%, U.S. economy adds 117,000 jobs
The U.S. economy added 117,000 jobs in July, the government reports. The unemployment rate fell to 9.1%.
Though the number are better than expected, will it be enough to ease investor fears?
ON AM this morning: Ali Velshi and Christine Romans break down the numbers with Tig Gilliam, CEO, Adecco Group North America. We'll update this post with the interview once it's ready.
Markets in Asia, Europe down after Dow plunges more than 500 points Thursday
This morning, markets across Asia and Europe are continuing the downward slide started by the Dow yesterday, which plunged more than 500 points Thursday.
Though many say that fear is propelling the market slump, others are worried the correction is an indication that the U.S. may be headed for a doube-dip recession. With jobs numbers scheduled to be released at 8:30am ET, how will the markets affect your money?
Matt McCall, Founder and President of Penn Financial Group, LLC discusses world markets and your money on American Morning today.
Gene Sperling: 'There's more shared sacrifice in how we're cutting spending'
The White House reached a deal with Congressional leaders yesterday to avert a debt default, but not all members of President Obama's party are happy about the prospect of enacting spending cuts without raising revenue.
The deal is being heavily criticized in numerous editorials this morning, with many Democrats saying that the President capitulated on shared sacrifice.
Gene Sperling, director of the National Economic Council in the White House, joins Carol Costello on American Morning today to respond to these negative reactions and to discuss what Democrats got out of the deal.
What would a U.S. credit downgrade mean for the economy and the average American?
As fears continue to rise about the U.S. defaulting if lawmakers fail to hash out a plan to raise the U.S. debt ceiling, concerns are also escalating about a potential downgrade of the U.S. credit rating.
Rating agencies - Standard & Poor's, Moody's and Fitch - analyze risk and give debt a "grade" that reflects the borrower's ability to pay the underlying loans.
The U.S. has had the highest credit rating, AAA, since Moody's began assigning ratings in 1917. However, this may change in the near future.
Paul La Monica, assistant managing editor for CNN Money, joins Ali Velshi today on American Morning to weigh in on what a downgrade would mean in terms of U.S. Treasuries, the U.S. consumer and the overall economy.
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