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The chief of the IMF, Christine Lagarde, weighed in on the U.S. debt ceiling dilemma, warning that 'creative accounting' would not be the solution.
Though average Americans have no control over whether the U.S. debt ceiling is raised, a default could have a direct impact on their finances.
Millions of recipients, disabled veterans and federal retirees can expect historically small increases in their benefits come January.
U.S. consumer sentiment deteriorated in October to its weakest level in nine months as the first federal government shutdown in 17 years undermined Americans' outlook on the economy.
Republicans were prepared to offer a deal featuring both an increase in the debt limit and an end to the government shutdown in return for spending cuts.
The more Wall Street is convinced that Washington will act rationally and raise the debt ceiling, the less pressure there will be on lawmakers.
U.S. small business optimism slipped in September, but remained fairly upbeat on sales and expansion prospects.
Greg Valliere, chief political strategist at Potomac Research Group, estimates the chance of a U.S. default at 10 percent and highlights that the impact of a prolonged shutdown would be "corrosive".
The International Monetary Fund (IMF) sliced its growth expectations for emerging countries on Tuesday, but maintained them for advanced economies.
Just how big is the number of furloughs from the shutdown? And what does having that many workers sent home without pay really mean for the economy?
Consumer delinquencies rose slightly as a sluggish economy weighed on borrowers' ability to pay down debt, the American Bankers Association said.
Since the official September employment report was not released as scheduled on Friday because of the government shutdown, CNBC crunched the numbers.
If investors put their trading hats on, they may be able to protect themselves from a possible default and even possibly come out ahead.
With no jobs report to trade on, markets instead will bounce off the words of the politicians responsible for shutting down the Labor Department.
The government is partly shut down, but a bigger concern for financial executives is a potential default on public debt.
If Congress fails to raise the debt ceiling, the Treasury Secretary will have to figure out how to make due with a third less in government funds.
Where would we be without China? Many in the commodities industry have questioned. But it has particular resonance for gold. The FT reports.
Damage from a default would be more than bad PR—it could affect everyone from bankers to pensioners to holders of money market funds.
Growth in the U.S. services sector cooled last month after approaching an eight-year high in August as the pace of new orders dipped and hiring slowed.
The Treasury is warning that the economy could plunge into a downturn worse than the Great Recession if the country defaults on its debt obligations.
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