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On Friday’s broadcast of NewsNation’s “The Hill,” White House Senior Adviser Gene Sperling discussed the recent jobs report and stated that things are “not good enough, because people are still facing too high costs in their family and personal lives. But in terms of the job market, yes, this is steady, sustainable job growth, better than even a soft landing. It’s a very steady and strong landing.”

Treasury Secretary Janet Yellen said Friday the U.S. economy is achieving a “soft landing” as inflation continues to ease without showing signs of a significant economic downturn. “What we’re seeing now I think we can describe as a soft landing, and my hope is that it will continue,” Yellen said in an interview on CNN. “The American people did it,” she added. “The American people go to work every day, participate in the labor market, form new businesses. But President Biden has tried to create incentives that give Americans the tools they need to help this economy grow.”

,/A>Did Fed Chair Powell just jump straight from ‘denial’ to ‘acceptance’ on his journey through grief at the death of ‘transitory’ inflation? Speaking on MarketPlace Radio this evening, Powell said the central bank has both the tools and resolve to bring down rapid inflation — though he acknowledged that the path to lower price increases could be a painful one. Powell: So you can see that inflation is just way too high here in the United States. And by the way, the same all over the world, really, the global economies all around the world have been hit by a...

Hacked or h*ng? Rep. Anthony Weiner (D-NY 9″) finds himself in a late night online pickle. This evening a photo surfaced on Congressman Weiner’s yfrog account and in his verified Twitter timeline of a man in his underwear with an erection. The photo was reportedly sent to a woman on Twitter. We’ve protected her name and her account, which was at one time verified to be active but has since been deleted after the photo in question was deleted. Coincidentally, the rest of the photos in the congressman’s alleged yfrog account were also deleted around 11 p.m. eastern. Weiner, who...

Federal Reserve Chairman Ben Bernanke said on Thursday the U.S. economy has been resilient in the face of credit market strains but it faces risks on both the growth and inflation fronts. Mary Altaffer / AP Federal Reserve Chairman Ben Bernanke. "Financial market volatility and strains have persisted," Bernanke said in testimony prepared for delivery to the congressional Joint Economic Committee. "In addition, further sharp increases in crude oil prices have put renewed upward pressure on inflation and may impose further restraint on economic activity." Bernanke said that when Fed policy-makers met on Oct. 30-31, they saw both downside risks...

Analysts Say Housing Slowdown That Hit U.S. Economy Will Persist Into 2007 WASHINGTON (AP) -- The slowdown that hit the U.S. economy will persist into 2007 as the once red-hot housing market continues to suffer through a serious correction, analysts say. As the new year begins, many private analysts are forecasting the economy will perform at the slowest pace in five years, a full percentage-point lower than growth in 2006. One such analyst is Nariman Behravesh, chief economist at Global Insight, a forecasting firm. "The recession in the housing market does not seem to have had much of an impact...

Sales of existing homes fell for a sixth straight month in September and the median sales price dropped on an annual basis by the largest amount on record, further documenting a lukewarm housing market. The National Association of Realtors reported that sales of previously owned homes fell by 1.9 percent in September to a seasonally adjusted sales pace of 6.18 million units, the slowest sales rate since January 2004. The median price of a single-family home fell to $219,800 last month, a drop of 2.5 percent from the price in September 2005. That was the biggest year-over-year price decline in...

<p>WASHINGTON -- At the year-end, I usually scan a stack of economic reports to see what lies ahead. Well, folks, according to most forecasts we're headed for a swell year -- though a boring one. Typical is the forecast from the Organization for Economic Cooperation and Development in Paris. In 2006 the American economy should grow 3.5 percent (about the same as in 2005), it says. Unemployment drops from today's 5 percent to 4.8 percent. Inflation remains tame, at 2.5 percent. The world economy also does well; international trade expands 9 percent.</p>

Soft landing or crash? S&P sees gradual unwinding of housing bubble By John Spence, MarketWatch Last Update: 2:11 PM ET Sept. 19, 2005 BOSTON (MarketWatch) -- The popping of the red-hot U.S. housing market will likely play out as a steady deceleration of prices followed by stabilization, rather than a dramatic national downturn, Standard & Poor's said Monday. "The bubble should end with a fizzle, not a bang," said S&P Chief Economist David Wyss in a conference call Monday, adding that it's difficult to nail down exactly when the market might weaken, and what the implications might be for the...

Greenspan, IMF diverge a bit on China But caution and fears of hard landing are the same By Lisa Twaronite, CBS.MarketWatch.com Last Update: 6:55 AM ET Aug. 26, 2004 TOKYO (CBS.MW) - When it comes to the success of China\\\'s steps to slow down its booming economy, Federal Reserve Chairman Alan Greenspan and the International Monetary Fund are reading from different pages. But while the tone of their short-term assessment of China\\\'s policies to date may differ, both certainly share the same fears about the long-term outcome of those policies. Growth in Asia has \\\"braked sharply\\\" in recent months, as...