The Federal Communications Commission’s auction of television airwaves is wrapping up after attracting about $18.2 billion in bids, far less than the last sale of government licenses amid weaker demand.
President Barack Obama took office in the middle of a financial crisis with Corporate America hemorrhaging jobs. He leaves with stocks near record highs and 75 straight months of job creation. Yet his economic legacy is marred by a long run of slow wage growth, low worker productivity and the slowest economic expansion in post-World War II history.
A broad measure of inflation poked above 2% for the first time in two-and-a-half years in December, a sign of diminished economic slack that could support additional moves by the Federal Reserve to raise interest rates this year.