Economy, Economic Recovery | featured news

The Federal Reserve sounded a more confident note Wednesday that the economy is strengthening but pledged to hold rates at record lows to make sure it gains traction.

It took more than a year, but American diners are coming out of hiding, starting to splurge on everything from tea to tacos and tacking on some dessert.

Home sales rose sharply last month and claims for jobless benefits fell last week. The two reports Thursday sketched a picture of a modestly improving economy.

Economist says recovery is stronger than thought; 4-percent economic expansion expected this year.

Fed chief Bernanke expressed confidence to Congress that the unfolding economic recovery will have staying power, but not fast enough to relieve high unemployment quickly.

Oil prices rose above $85 a barrel Monday, extending gains from last week as investors bet an improving U.S. job market will herald growing crude demand.

A string of fresh economic data Thursday offered hopeful signs of spring, but there’s still a lot of storm damage to clean up.

The 0.3 percent rise in consumer spending in February was considered a respectable showing, given the winter weather.

The 0.3 percent increase, the biggest since November, provided hope that the recovery was gaining momentum.

U.S. stocks rose broadly, with investors encouraged by a government report that job losses were less than expected in February.