Congress Federal Budget (U.S.)

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    Global credit markets continued to show signs of thawing, but worries about a world-wide recession loomed over markets.

  • Paul Krugman, Princeton University professor and winner of the 2008 Nobel Prize for Economics, told CNBC that the new rescue plan, which will inject $250 billion into U.S. banks, “looks much better.”

  • WALL STREET IN CRISIS - A CNBC SPECIAL REPORT

    The U.S. government's move to pour $250 billion into banks was appropriate and sufficient, but the markets will take time to heal, Mohamed El-Erian, Pimco co-CEO and co-chief investment officer, told CNBC Tuesday.

  • From New York City to Indiana, the Wall Street crisis is hitting cities across the country.

  • WALL STREET IN CRISIS - A CNBC SPECIAL REPORT

    With legendary investor Jim Rogers warning that repeated liquidity injections are setting the stage for a massive inflation holocaust, it’s worth asking if deflation may be as great a threat of the global financial crisis.

  • WALL STREET IN CRISIS - A CNBC SPECIAL REPORT

    The U.S. government has to come up with more broad-based solutions to the financial crisis, following the example of the UK which pledged to part-nationalize financial institutions to defend its banking sector, billionaire investor Wilbur Ross, WL Ross & Co. CEO, told CNBC on Friday.

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    Cries for a rate cuts from central banks across the world are growing, but the arguments against such a move aren't going away.

  • Franklin, Ind., an industrial-based town south of Indianapolis is starting to feel the effects of Wall Street’s pain, said Fred Paris, the town’s mayor on CNBC’s “Squawk on the Street.”

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    The worsening credit crisis is creating even more worry about the labor market outlook and there was little consolation in the jobs report Friday.  All signs are pointing to further deterioration in the months ahead. The big question is how bad it will get and how quickly.

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    The worsening credit crisis is creating even more worry about the labor market outlook and there was little consolation in the jobs report Friday.  All signs are pointing to further deterioration in the months ahead. The big question is how bad it will get and how quickly.

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    As the credit crisis spreads around the globe, it is reverberating back to Main Street in ways never seen before.  As such, stories similar to the Hendrick's Turf farm are being played out across America.

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    Now, with a deal on the financial bailout expected soon, let's get back to the real economy—and the recession already in progress.

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    The number of workers filing new claims for jobless benefits jumped 32,000 last week,while new orders for durable goods dropped by a sharper-than-expected 4.5 percent in August.

  • The Treasury’s bailout plan for Wall Street will also benefit Main Street, Bill Gross, founder and chief investment officer of investment management firm Pimco, told CNBC Wednesday.

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    In the debate over homeowner aid in the Wall Street bailout, both sides appear to have forgotten that Congress approved a $300 billion mortgage rescue in July.

  • The Federal Reserve, which has encouraged excessive borrowing, is to blame for the credit crunch that has gripped world markets for more than a year, Marc Faber, the author of the Gloom Boom & Doom Report, told CNBC on Tuesday.

  • WALL STREET IN CRISIS - A CNBC SPECIAL REPORT

    “The Wall Street mess will now have collateral damage to the real economy,” says Steve Hanke, a former White House economist. “We're coming into this thing in a terrible situation.”

  • WALL STREET IN CRISIS - A CNBC SPECIAL REPORT

    Investing experts and economists worldwide weigh in on AIG and what this recent run of bailouts means for financial sectors across the globe.

  • The Federal Reserve, meeting during an unprecendented crisis on Wall Street, decided to leave interest rates unchanged but expressed concern about the crisis escalating.

  • The Federal Reserve left rates unchanged on Tuesday, giving little relief for Wall Street one day after the Dow's 500 drop. What follows are video highlights of the experts' reactions.