Federal Reserve Chairman Ben Bernanke pauses during a hearing before the House Budget Committee on Feb. 28, 2007.
Credit Alex Wong / Getty Images
Five years ago, a subprime mortgage firestorm was melting down the U.S. economy, but most analysts didn't see it happening.
Federal Reserve Chairman Ben Bernanke, testifying before Congress in February 2007, said the housing sector "is a concern, but at this point we don't see it as being a broad financial concern or a major factor in assessing the course of the economy."
If he and the vast majority of economists were blind to the economic and financial calamity taking shape then, could they also be missing the start of a huge economic boom now?
There's long been a big gap between the wealth of white families and the wealth of African-Americans and Hispanics. But the Great Recession has made it much worse — the divide is almost twice what it used to be.
That's according to a new study by the Pew Research Center, which says that the decline in the housing market is the main cause.
Abound Solar is nearly doubling its office space at Centerra in Loveland, adding 50 new jobs by the end of the year. KUNC’s Erin O’Toole talks with Jeff Nuttall, publisher of the Northern Colorado Business Report, about this and other developments in the local innovation economy.
The national birth rate fell 4 percent between 2007 and 2009 — more than it had in any two-year period in the past 30 years. With a national average of 66.7 births per 1,000 women between the ages of 15 and 44, nearly every demographic group had lower birth rates, with the sole exception being women over 40.
By age, the largest decline was 9 percent, among women between 20 and 24. Fertility rates among Hispanic women also dropped by 9 percent.