President George W. Bush said on Friday that the U.S. economy is in a slowdown but added that tax rebates should help pull activity out of the slump.
As the markets prepare for next week’s two-day Fed meeting, it might be time to suspend expectations that another rate cut is really the right answer.
The United States is in a recession but the downturn is expected to be mild because consumer spending is not expected to fall precipitously, Standard & Poor's said Thursday.
Oil prices, which are setting fresh records nearly every day, are likely to keep climbing until the weak US dollar starts recovering and more supplies become available.
Business economists are turning pessimistic about the U.S. outlook and increasingly fear economy will slip into a recession in coming months.
Hawkish rhetoric from Federal Reserve officials and a rebound in the stock market has driven down market expectations for additional Fed rate cuts...
Executives at several top diversified U.S. manufacturers said they are starting to see signs of the slowing economy taking a toll on business, tempering their outlook for 2008.
The euro cannot replace the dollar as the world's main reserve currency, and a system of two reserve currencies would be unstable, billionaire investor George Soros said on Thursday.
Factory activity in the U.S. Mid-Atlantic region contracted for a fifth straight month in April, a survey released on Thursday showed.
The number of US workers applying for unemployment benefits rose by 17,000, which was marginally less than expected, while those of workers remaining on jobless benefits were at the highest level in almost four years, a government report showed on Thursday.
Measuring inflation without including food and energy costs no longer makes sense, PIMCO Chief Investment Officer Bill Gross told CNBC.
G7 finance ministers are meeting in Washington this weekend to discuss the sub-prime credit mess and ways to coordinate measures aimed at backstopping the world financial system against various credit strains and systemic risks.
U.S. chief executives have lowered their expectations for domestic growth this year, but held their overall business outlook steady.
Federal Reserve Chairman Ben Bernanke said the U.S. economy could face a mild recession but that growth should pick up as the impact of aggressive interest rates cuts are felt.
The U.S. economy has "turned down sharply" and is at risk of weakening further because of the slump in housing, Treasury Secretary Henry Paulson said.
The US trade deficit widened unexpectedly in February as imports of consumer and other goods set a record and grew faster than exports, which hit a record for the 12th consecutive month, a government report showed on Thursday.
The Federal Reserve will stop cutting interest rates once it is assured that the economic contraction is limited to the financial sector, PIMCO CEO Mohamed El-Arian told CNBC.
Wall Street banks are the first to be blamed for the credit crunch. Central banks come a close second, but as the Federal Reserve's image is suffering, the European Central Bank looks as solid as a rock.
U.S. stocks closed lower Wednesday after UPS projected an earnings shortfall and oil prices surged.
U.S. stocks fell to session lows Wednesday after a report showing larger-than-expected decline in crude inventories sent oil prices climbing, and corporate news from Morgan Stanley and UPS dragged on shares.