More doom on the horizon? Or will happy days soon be here again? Take your pick. The confusion is enough to play havoc on a person's mood—or an entire nation's. In hard economic times, Americans turn to numbers to see whether things are getting better.
You've heard all the gloom and doom. Now here's some good news: the economic recovery could happen much sooner—and be much stronger—than anyone thought possible.
Although oil prices should remain low for the next three to six months, the threat of surging prices remains, according to John Hofmeister, former Shell president and CEO of U.S. operations.
There is a re-occurring theme that is permeating solutions to the global malaise. As the old doctor's saying of "heal thyself" goes, leaders across the globe are pursuing policy that has healthcare as a major tenet for their plans.
Calling it "general theft," Sen. John McCain blasted the Obama administration's budget proposal on CNBC Thursday.
Wednesday: Pending sales of existing U.S. homes inched upward but home values keep slipping. Job losses in the U.S. private sector accelerated more than expected in March but planned layoffs are down. Pres. Obama urged unified action at the G20 meeting. Four regional banks were the first to pay back TARP funds. CNBC heard from experts who said the market will make a major move around Easter — and went overweight in stock portfolio allocation.
The economy is headed for a “very long and damaging economic downturn” that will not see any recovery in 2009, said Harvard University professor Martin feldstein on Wednesday.
The U.S. economy will have negative growth for 2009 before it improves slowly in 2010, Dallas Federal Reserve Bank President Richard Fisher told CNBC Wednesday.
Tuesday: Consumer confidence squeaked above its record low. Ford announced an incentive program -- covering payments if a buyer is laid off -- similar to Hyundai's. GM's new CEO Fritz henderson said bankruptcy is possible within 60 days. J.P. Morgan said global banks will write down $17 billion more. CNBC heard from experts who said retail looks less scary, housing is finally coming back — but warned that inflation could be "kryptonite" for bonds.
Altering mark-to-market accounting rules would bring more opacity to the financial system, said Nassim Taleb, “The Black Swan” author.
Treasury Secretary Tim Geithner will unveil a four part plan to reform financial regulation when he testifies before the House Financial Services Committee Thursday.
The pace of economic deterioration has started to slowdown in some areas, said Treasury Secretary Timothy Geithner on Wednesday.
President Barack Obama said Tuesday he hopes "it doesn't take too long to convince Congress" to approve new authority to oversee big, tottering financial firms.
Positive developments out of Washington have stocks on a slow road to recovery even as the economy may continue to struggle, a panel said on CNBC.
Treasury Secretary Timothy Geithner told CNBC that the government's highly-anticipated plan to deal with troubled mortgage loans and assets is just the latest effort to stem the financial crisis.
The government's latest effort to stabilize the financial system centers on public-private investment funds that will buy up to $1 trillion in troubled loans and securities at the heart of the crisis.
U.S. Treasury Secretary Timothy Geithner is set to reveal details on Monday of a plan to set up public-private investment funds that could buy up to $1 trillion in troubled loans and securities at the heart of the financial crisis.
With states eager to spend, President Barack Obama issued guidelines Friday detailing acceptable uses for money from the $787 billion stimulus measure, saying the program "cannot and will not be an excuse for waste and abuse."
"Most high-earning execs will find their next job through networking," says one expert. "The old tricks are not working anymore. You can't just shop your resume around."
President Barack Obama is playing a bit of divide-and-onquer this week, pitting his Republican critics in Washington against GOP governors and mayors eager for the federal money.