The following is the full text of U.S. Federal Reserve Chairman Ben Bernanke's "Housing, Mortgage Markets and Foreclosures" speech issued in Washington Thursday and delivered before before the Fed conference on Housing and Mortgage Markets:
Taxpayers are increasingly exposed to losses, and the government is more vulnerable to fraud, under initiatives that have created a federal bank bailout program of "unprecedented scope," a government report finds.
Federal Reserve Chairman Ben Bernanke said on Friday that the U.S. recession had done lasting harm to household finances and that regulators must protect consumers from willfully confusing forms of credit.
The global economy and global markets are on a volatile journey to a “new normal,” according to Mohamed El-Erian, CEO and co-CIO at Pimco.
The Obama administration will disclose details about its banking stress tests and what capital participants may need beginning next week, CNBC has learned.
The initial scare has gone from the market and it looks like the economy is showing signs of bottoming out, but it is difficult to predict where things will go from here, Jack Welch, the former CEO of CNBC parent General Electric, said Thursday.
Protesters began gathering at state Capitols and in neighborhoods and town squares across the country Wednesday to kick off a series of tax-day protests designed to echo the rebellion of the Boston Tea Party.
Despite signs that the recession is easing, the economy still has a long way to go before it recovers, well-known economist Martin Feldstein told CNBC in a live interview.
The following is the full text of the Beige Book released by the Federal Reserve on April 15, 2009 and based on information collected on or before April 6, 2009:
Signs of long-term economic growth are still a way off, says Lawrence Lindsey, former National Economic Council director and president and CEO of the Lindsey Group. Lindsey predicts the stock market will retest its lows and says there is no bottom in sight for commercial real estate prices.
The US economy is not out of the woods yet, but the worst of the downturn will probably pass this year, as various components of the stimulus thrown at it will start to show results, White House adviser Christina Romer told CNBC Tuesday.
President Barack Obama will tap Fannie Mae Chief Executive Herb Allison to head the government's $700 billion Troubled Asset Relief Program, an administration official told CNBC.
Most people say they plan to use this year's tax refund to pay bills, deciding in this sour economy to be more frugal with their annual windfall.
US stocks have hit bottom but the economy remains fragile, Black Rock's Bob Doll and billionaire Wilbur Ross told CNBC.
The US stock market appears to have hit bottom and the nation's economy might see an upward shift in the latter half of the year, widely watched investment strategist Abby Joseph Cohen told CNBC
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.