Congress Federal Budget (U.S.)

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    From unemployment to taxes, economic conditions will play a big role in the rankings of CNBC’s third annual America’s Top States For Business study due out Thursday, July 23.

  • Stimulus Package

    Under the Obama administration's economic stimulus plan, needy communities were supposed to be first in line for money to rebuild highways and jump start the economy.  It hasn't worked out that way.

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    CIT, the finance company struggling to avoid a Chapter 11 filing as soon as tomorrow, is seeking to line up between $2 to $3 billion in secured financing from private investors, CNBC has learned.

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    CIT Group's inability to get emergency government funding raises expectations that the commercial lender will file for bankruptcy.

  • Although the depression scare is over, the economy is likely to remain sluggish for some years, said Robert Shiller, Yale University economics professor.

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    The Federal Reserve expects the economy will sink at a slower pace this year but unemployment will top 10 percent, according to a forecast contained in the latest minutes.

  • Federal Reserve

    The Federal Reserve released the following economic forecast on Wednesday as part of the minutes of its June 23-24 policy meeting.

  • US Capitol Building with cash

    No one argues that the staggering deficits run up by the American government in a bid to rescue the economy are desirable, healthy or even sustainable — not if the national debt continues to swell at its current pace. But considerable debate centers on when and how vigorously to start easing off Washington’s borrowing habit, with substantial risks at both extremes, the New York Times reported.

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    The competition for jobs intensified in May, the government said Tuesday, as employers advertised more positions but the number of people looking for them also increased.  Here's a breakdown of jobs by region, hiring and hardest hit.

  • Sen. Barack Obama, D-Ill., answers a question during the first Democratic presidential primary debate of the 2008 election hosted by South Carolina State University in Orangeburg, S.C., Thursday, April 26, 2007. (AP Photo/J. Scott Applewhite)

    Contrary to comments made this past weekend by Vice President Joe Biden, President Barack Obama says that the administration did not misread the economic downturn.

  • The federal minimum wage is set to increase later this month, and that could be bad news for small business owners already struggling in a pinched economy.

  • President Barack Obama

    The pace of the economic recovery heading into the fall—electric smooth or diesel rough—will determine whether Obama can prod Congress on the key features of his agenda with momentum or from a defensive crouch.

  • Andrew Busch

    As the summer wears on and discontent grows, I expect calls will be louder and louder for additional stimulus from Congressional Democrats to put more Americans to work.

  • The stock market is still in danger of breaking through its March lows as the economy continues to struggle, economist David Rosenberg told CNBC.

  • I have been warning clients for about two months that the mid-June-mid-October time period is the danger zone for a mood shift, and it looks like we're on schedule.

  • Bill Gross

    The slide in employment is representative of what the US economy faces for years to come, Pimco's Bill Gross says.

  • President Barack Obama

    It has become the trillion-dollar question: can President Obama find that much in spending cuts and tax increases to keep his campaign promise to overhaul the health care system, without adding to already huge deficits? Mr. Obama and the Democrats running Congress are deeply split over the possibilities.

  • California may run out of money by the end of July, but it will start issuing IOU's a week from today.

  • Federal Reserve Chairman Ben Bernanke

    Federal Reserve Chairman Ben Bernanke needs to explain whether the Fed kept the Securities and Exchange Commission in the dark about Bank of America's acquisition of Merrill Lynch before the central bank is given more power under financial reforms, Rep. Darrell Issa , R-Calif., told CNBC.

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    There were some minor tweaks to the Federal Reserve's statement today, but otherwise the major thrust of the Fed's extraordinary policy to combat the financial crisis remains in place: keeping interest rates "exceptionally low .... for an extended period" and continuing massive purchases of treasuries and mortgage-backed securities.