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Congress Federal Budget (U.S.)


  • Economists Even More Gloomy About US Prospects Monday, 21 Apr 2008 | 11:07 AM ET

    Business economists are turning pessimistic about the U.S. outlook and increasingly fear economy will slip into a recession in coming months.

  • Manufacturing CEOs Downbeat About 2008 Outlook Thursday, 17 Apr 2008 | 3:09 PM ET

    Executives at several top diversified U.S. manufacturers said they are starting to see signs of the slowing economy taking a toll on business, tempering their outlook for 2008.

  • Soros: Euro Cannot Become Main Reserve Currency Thursday, 17 Apr 2008 | 12:16 PM ET
    Exchanging Dollars and Euros

    The euro cannot replace the dollar as the world's main reserve currency, and a system of two reserve currencies would be unstable, billionaire investor George Soros said on Thursday.

  • Bank Jitters About Lending Hurt Economy: Fed's Kohn Thursday, 17 Apr 2008 | 10:21 AM ET
    Donald Kohn

    Banks are so wary about lending that credit costs are pushed up despite cuts in interest rates,  Fed Vice Chairman Kohn said. .

  • Mid-Atlantic Manufacturing Slides Further in April Thursday, 17 Apr 2008 | 10:09 AM ET

    Factory activity in the U.S. Mid-Atlantic region contracted for a fifth straight month in April, a survey released on Thursday showed.

  • Jobless Claims Up 17,000, Less Than Expected Thursday, 17 Apr 2008 | 8:36 AM ET

    The number of US workers applying for unemployment benefits rose by 17,000, which was marginally less than expected, while those of workers remaining on jobless benefits were at the highest level in almost four years, a government report showed on Thursday.

  • PIMCO's Gross: Food, Energy Are Key to Inflation Wednesday, 16 Apr 2008 | 10:57 AM ET

    Measuring inflation without including food and energy costs no longer makes sense, PIMCO Chief Investment Officer Bill Gross told CNBC.

  • Bernanke Says US Could Be Facing A Mild Recession Thursday, 10 Apr 2008 | 10:12 AM ET
    Ben Bernanke

    Federal Reserve Chairman Ben Bernanke said the U.S. economy could face a mild recession but that growth should pick up as the impact of aggressive interest rates cuts are felt.

  • Trade Deficit Up; Jobless Claims Less Than Expected Thursday, 10 Apr 2008 | 8:40 AM ET

    The US trade deficit widened unexpectedly in February as imports of consumer and other goods set a record and grew faster than exports, which hit a record for the 12th consecutive month, a government report showed on Thursday.

  • Pimco's El-Erian: Rate-Cutting May Be Near End Thursday, 10 Apr 2008 | 7:41 AM ET

    The Federal Reserve will stop cutting interest rates once it is assured that the economic contraction is limited to the financial sector, PIMCO CEO Mohamed El-Arian told CNBC.

  • Fed Considering Additional Liquidity Measures Wednesday, 9 Apr 2008 | 8:30 AM ET

    The Federal Reserve is mulling further steps to address liquidity problems in financial markets should measures taken to date fail to gain traction, a Fed official confirmed Wednesday.

  • Greenspan Says Fed Didn't Cause Housing Bubble Tuesday, 8 Apr 2008 | 5:17 PM ET
    Alan Greenspan

    Former Federal Chairman Alan Greenspan told CNBC  he had little to do with the  housing bubble or credit crisis despite criticism the Fed kept interest rates too low under his watch.

  • Fed Didn't Inflate the Housing Bubble: Greenspan Tuesday, 8 Apr 2008 | 4:55 PM ET
    Alan Greenspan

    Former Federal Reserve Chairman Alan Greenspan has defended himself from charges that easy U.S. monetary policy created the current credit crisis by inflating a housing bubble, and instead blamed professional investors.

  • Fed Minutes Show Worries About a Deep Recession Tuesday, 8 Apr 2008 | 3:36 PM ET
    Ben Bernanke

    Worries about a deep recession--not a shallow one--drove Fed policymakers to slash interest rates again last month, according to minutes of their  meeting.

  • Full Text: FOMC Minutes Tuesday, 8 Apr 2008 | 2:28 PM ET
    The Federal Reserve headquarters in Washington, DC.

    The following is the text of the minutes from the Federal Open Market Committee's meeting of March 18, issued on Tuesday:

  • Small Business Optimism Index Hits All-Time Low Tuesday, 8 Apr 2008 | 7:43 AM ET

    A gauge of small business optimism in the United States sunk in March to a 22-year low, as small business owners clamped down on plans to create new jobs and expand business operations, a survey released Tuesday showed.

  • U.S. Sliding into Recession: Head of Economic Bureau Monday, 7 Apr 2008 | 10:15 AM ET
    Martin Feldstein

    Martin Feldstein, who heads the group that is considered the arbiter of U.S. recessions, told CNBC that he believes the U.S. has been sliding into a recession.

  • Job Outlook for '08 Grads: Fewer Offers, Higher Pay Friday, 4 Apr 2008 | 12:40 PM ET

    For those graduating college this year, getting a job will be a little harder than last year—but will likely pay more.


    If recessions are best seen through the rear-view mirror, then Friday's jobs data makes the current state of the economy pretty clear.

  • JOBLESS_noTEXT.jpg

    US employers cut payrolls by a bigger-than-expected 80,000 in March, more evidence that the economy is in a recession.