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Congress Federal Budget (U.S.)

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  • Chances of Aggressive Fed Cut in March Jump Friday, 29 Feb 2008 | 8:23 AM ET

    The chance of an aggressive 75 basis points cut in the Federal Reserve's benchmark interest rate shot up to 62 percent on Friday, as U.S. equity futures pointed to a lower open and Treasury prices surged.

  • California Suburb Vallejo Faces Bankruptcy Thursday, 28 Feb 2008 | 11:37 AM ET

    A Bay Area suburb grappling with declining revenue and ballooning employee expenses may become the first city in the state to declare bankruptcy.

  • Bush Voices Concern About Slowing US Economy Thursday, 28 Feb 2008 | 11:07 AM ET
    President Bush speaks during a news conference, Thursday, Sept. 20, 2007, in the press briefing room at the White House in Washington. (AP Photo/Ron Edmonds)

    The U.S. economy is in a slowdown but not headed into a recession, President Bush said Thursday after new data showed slow fourth-quarter growth and a bigger-than-expected jump in unemployment claims.

  • US Distressed Debt Level Highest Since 2003: S&P Thursday, 28 Feb 2008 | 10:58 AM ET
    bank.jpg

    The portion of U.S. junk bonds trading at distressed levels rose to 16.9 percent in February, up from 11.1 percent in January in a sign that defaults are headed higher, Standard & Poor's said on Wednesday.

  • Mortgage Applications Fall to Lowest Level This Year Wednesday, 27 Feb 2008 | 11:25 AM ET
    mortgage_woes.jpg

    Applications for U.S. home mortgages plunged to their lowest level this year, as rising long-term interest rates curbed incentives to refinance, an industry group's data showed on Wednesday.

  • Durable Goods Suffer Deeper Drop Than Expected Wednesday, 27 Feb 2008 | 11:18 AM ET
    plane_4769.jpg

    New orders for long-lasting US-made manufactured goods fell by 5.3 percent in January, the biggest drop in five months and more than analysts expected.

  • Two Fed Governors Divided Over Inflation Threat Wednesday, 27 Feb 2008 | 11:00 AM ET
    Donald Kohn

    How serious is the risk of inflation? It depends on which Fed governor you ask.

  • TEXT: Bernanke's Testimony Wednesday, 27 Feb 2008 | 10:10 AM ET
    Federal Reserve Chairman Ben Bernanke.

    The text of Federal Reserve Chairman Ben Bernanke's testimony to the House Financial Services Committee on Febuary 27, 2008.

  • Fed's Kohn: Economy Still Bigger Worry Than Inflation Tuesday, 26 Feb 2008 | 3:07 PM ET
    Donald Kohn

    A top Federal Reserve official said Tuesday that the danger the U.S. economy will weaken further is a bigger worry than higher inflation.

  • TEXT: Kohn's Speech Tuesday, 26 Feb 2008 | 1:16 PM ET

    The full text of a prepared speech by Federal Reserve Vice Chairman Donald L. Kohn on The U.S. Economy and Monetary Policy given on February 26, 2008.

  • US Home Prices Plunged at Record Pace Last Year Tuesday, 26 Feb 2008 | 12:50 PM ET
    housing_crisis.jpg

    The collapse in U.S. home prices accelerated to a record pace in the fourth quarter of 2007, with prices plunging 8.9 percent last year, according to a national home price index released on Tuesday.

  • Wholesale Inflation Soars On Rising Energy Costs Tuesday, 26 Feb 2008 | 11:46 AM ET
    oil_pump3.jpg

    Inflation at the wholesale level jumped 1 percent in January on rising energy costs and posted the biggest 12-month gain in more than 26 years.

  • Pimco's Gross: Inflation Hurts Treasuries Appeal Tuesday, 26 Feb 2008 | 8:57 AM ET
    Bill Gross

    U.S. government bonds hold little appeal with inflation making a strong comeback, the manager of the world's largest bond fund said on Tuesday.

  • Fed's Fisher: Rate Cuts Need Time to Work Friday, 22 Feb 2008 | 2:54 PM ET
    Hundred Dollar

    Dallas Federal Reserve President Richard Fisher said on Friday that it will take some time for interest-rate cuts the Federal Reserve has made since last September to kick in and boost the economy.

  • Fed Sees Credit, Housing Cutting Into Growth Wednesday, 20 Feb 2008 | 3:01 PM ET
    The Federal Reserve headquarters in Washington, DC.

    The Federal Reserve lowered its projection for economic growth this year, citing damage from the housing slump and credit crunch.

  • Fed's Poole: Recession Unlikely but Inflation a Risk Wednesday, 20 Feb 2008 | 2:47 PM ET

    The U.S. economy will probably avoid a recession but inflation is also a risk and the Federal Reserve must not ignore this threat as it battles weak growth, one of the Fed's top policy-makers said.

  • Text: FOMC Minutes Wednesday, 20 Feb 2008 | 2:21 PM ET
    Federal Reserve Bank Chairman Ben Bernanke

    The text of the minutes from the Federal Open Market Committee's meeting on January 29-30, released on February 20, 2008.

  • Greenspan Says U.S. 'On The Edge' of Recession Friday, 15 Feb 2008 | 10:56 AM ET
    Alan Greenspan

    Former U.S. Federal Reserve Chairman Alan Greenspan on Thursday said the U.S. economy is "clearly on the edge" of a recession.

  • Bernanke's Gloomy Outlook Sparks Valentine's Selloff Thursday, 14 Feb 2008 | 2:09 PM ET
    Federal Reserve Bank Chairman Ben Bernanke

    On Tuesday, we had the Warren Buffett rally. On Valentine's Day, it was the Ben Bernanke selloff.

  • Bernanke Says Fed Ready To Cut Interest Rates Again Thursday, 14 Feb 2008 | 11:06 AM ET
    Federal Reserve Bank Chairman Ben Bernanke

    FedĀ  Chairman Bernanke told Congress the country's economic outlook has deteriorated and signaled that the central bank is ready to keep lowering rates.