Money Minute: Economy, Deficit, Hot Dogs

BusinessMoney Minute: Economy, Deficit, Hot DogsMoney Minute: Economy, Deficit, Hot DogsThe Associated PressThe Fed's new snapshot of business conditions underscored two big sore spots for the country: listless economic activity coupled with high energy and food prices. (June 11)The Fed's new snapshot of business conditions underscored two big sore spots for the country: listless economic activity coupled with high energy and food prices. Those rising prices carry the risk of both spreading inflation and putting another drag on overall economic growth. Over the past week, Federal Reserve Chairman Ben Bernanke and his colleagues have been sounding an ever-louder alarm against inflation. Given those concerns, Bernanke has signaled the Fed's rate-cutting campaign - started last September to bolster the weak economy - is probably over for now.-------------------------A flood of economic stimulus payments pushed the federal budget deficit to an all-time high of $165.9 billion in May. The Treasury Department says the May deficit was more than double the imbalance in May 2007. That number reflects $48 billion in payments as part of the government's $168 billion economic stimulus plan. For the first eight months of the budget year, the deficit totals $319.4 billion, slightly below the all-time record for this period of $346 billion, set in the 2004 budget year.----------------------------America's two largest hot dog makers are waging a wiener war as grills fire up this summer, hoping to win over customers and secure the No. 1 spot atop the stagnating frank market.The latest round in the long-running feud comes as Kraft Foods' Oscar Mayer brand gives its signature hot dog a makeover aimed at stealing momentum from Sara Lee's Ball Park Franks.Kraft hopes its reformulation - its first in 20 years - and a massive promotional campaign attract new customers and their palates with a zestier, meatier recipe. May the best dog win. I'm Mark Hamrick with AP Money Minute ___ ___, The Associated Press.(****END****)

Category:

News & Politics

Tags:

• economy
• minute:
• deficit
• hot
• dogs

[djpringle]

anyone seen the palin vid?

[WeskJago]

KRAFTmakes oscar mayers?! well psh! they just lost a customer (i heard bad things about that company and it using a new form of MSG-like subsatnces)