WASHINGTON - Restrained by a worse-than-expected slump in housing, the economy will grow at the slowest pace in five years in 2007, leading economic forecasters say. They predict consumers will get a break on inflation from falling energy prices.

 Hey, did you hear? Santa Claus is laying off Rudolph after the big night. Like other employers, Claus has to, ah, rein in costs. He can’t afford to keep and feed nine reindeer, even if they are tiny, for another whole year.

WASHINGTON - The Federal Reserve on Wednesday lowered its projection for economic growth this year, citing damage from the double blows of a housing slump and credit crunch. It said it also expects higher unemployment and inflation.

WASHINGTON - Federal Reserve Chairman Ben Bernanke told Congress on Wednesday he doesn't believe the economy will slip into a recession and rejected the notion raised by his predecessor, Alan Greenspan, that the economic expansion, which started in late 2001, could be running out of steam.

WASHINGTON - The country didn't get the energetic rebound in economic growth hoped for from the government's tax rebates in the second quarter, and the economy jolted into reverse at the end of 2007, raising new recession fears.

The power shift in Congress will bring a “completely different world” in energy policy with an increased emphasis on climate change, renewable energy and energy effi ciency, according to participants at the fourth-annual Arizona Energy Summit sponsored by the Arizona Association of Industries Thursday at the Pointe South Mountain Resort in Phoenix.

Tempe Mayor Hugh Hallman is minutes away from throwing out the first baseball at a spring training game when longtime Councilman Ben Arredondo suspects something is seriously amiss with the city's top elected official.Arredondo reminds the mayor that it's 3 p.m. on a warm day. He stares in disbelief when he spots what Hallman is about to sip.

Renewable energy is all the rage these days. With gasoline prices rising, with greenhouse gases and global warming at the forefront of public concern, the lure of pollution-free energy from windmills, photovoltaic solar panels and geothermal wells has never been stronger.

WASHINGTON - Wholesale prices are climbing, industrial production is faltering and housing construction is rebounding, offering mixed signals about the economy.

The “Great Recession” cost Arizona 300,000 jobs and cast a shadow long after it was declared over, but the outlook for the East Valley in 2011 is looking gradually, if tentatively, brighter.

The “Great Recession” cost Arizona 300,000 jobs and cast a shadow long after it was declared over, but the outlook for the East Valley in 2011 is looking gradually, if tentatively, brighter.

NEW YORK - This week on Wall Street, investors will find out if consumers' worries about housing, jobs and rising prices are affecting their spending - and, in turn, posing a further threat to the economy.

NEW YORK - That economic rebound in the second half of the year so many experts have predicted — including Federal Reserve Chairman Ben Bernanke himself — is starting to look dicey.

WASHINGTON - The economy that turned sluggish at the end of last year isn't doing much better now - and may well be doing worse - as war uncertainties and the stagnant job market make consumers and businesses more cautious. Some analysts worry about a slide back into recession.

WASHINGTON - The economy that turned sluggish at the end of last year isn't doing much better now - and may well be doing worse - as war uncertainties and the stagnant job market make consumers and businesses more cautious. Some analysts worry about a slide back into recession.

Gov. Janet Napolitano challenged state legislators Monday to keep moving forward in the face of an economic downturn, putting forth proposals to increase health coverage, offer free college tuition, crack down on human smugglers and improve substance abuse treatment for parents who need it.

WASHINGTON - The U.S. economy continued to grow in September and early October despite being buffeted by rising energy costs and increased uncertainty caused by the presidential campaign, the Federal Reserve said Wednesday, in its last snapshot of business conditions before Election Day.

For months, Americans have been subjected to a sort of economic water torture - a maddening drip of bad news about jobs, gas prices, sagging home values, creeping inflation, the slouching dollar and a stock market in bumpy descent.

WASHINGTON - The White House on Tuesday lowered its forecast for economic growth this year and next, reflecting the drag from the housing slump.

NEW YORK - Third-quarter earnings for the large-cap companies listed in the Standard & Poor’s 500 index have met Wall Street’s expectations overall, but the lack of company forecasts on future earnings — or disappointing outlooks in many cases — is starting to have investors worried.

WASHINGTON — President Barack Obama claimed early progress Tuesday night in his aggressive campaign to lead the nation out of economic chaos and declared that despite obstacles ahead, "we're moving in the right direction."

A two-day conference at Arizona State University this week focuses on the role of American Indian tribes in energy development.

Diane E. Brown: Although the magnitude of the economic situation in Arizona and across the nation is daunting, energy efficiency offers an immediate, proven and important step consumers and businesses can take to save money, create jobs, stimulate the local economy and reduce overall energy prices.

WASHINGTON - The sharp spike in energy prices that occurred after the Gulf Coast hurricanes will act as a drag on the economy although the impact on growth and inflation will not be as severe as the oil shocks of the 1970s, Federal Reserve Chairman Alan Greenspan said.