Fed Chairman Bernanke told Congress the country's economic outlook has deteriorated and signaled that the central bank is ready to keep lowering rates.
The full text of Federal Reserve Chairman Ben Bernanke's prepared testimony on the state of the U.S. economy and financial markets delivered before the Senate Banking Committee.
Fed Chairman Ben Bernanke has yet to win the hearts and minds of many on Wall Street. But a stand-out performance during his appearance before Congress on Valentine’s Day may bring him considerably more admirers.
Federal Reserve Chairman Ben Bernanke told lawmakers Tuesday he expects the downtrodden U.S. housing sector to improve by the end of the year.
The U.S. appears likely to avoid an economic downturn but the chances of a recession have risen, St. Louis Federal Reserve Bank President William Poole said Monday.
The U.S. economy showed further signs of slowing, particularly with Thursday's report that the jobless ranks continued to swell last week
Jobless claims fell by 22,000 last week, but the number of workers remaining on jobless aid rose to its highest in more than two years.
If the health of the economy is so murky, why has the Federal Reserve been so aggressive in cutting interest rates?
The labor market may be weak, but that doesn't necessarily mean the US economy is in recession or on the verge of one.
President Bush unveiled a $3.11 trillion budget Monday for fiscal year 2009 that begins on Oct. 1. The proposal will be sent to the Democratic-led Congress, likely setting the stage for a fresh round of sparring over spending priorities.
President Bush acknowledged Monday a weaker economy would lead to higher budget deficits, as he unveiled a $3.1 trillion spending plan for fiscal year 2009 that would nearly freeze domestic programs.
Consumers spent less in December than at any time in the past 15 months while applications for unemployment benefits soared last week, two more signs the economy is weakening.
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The Fed cut interest rates another half point, but economists are divided about whether its policy statement will successfully manage market expectations.
The statement released by the Federal Open Market Committee after its January 29-30 meeting on interest rate policy.
The Federal Reserve cut its key interest rate another half point, as expected, and sparked a stock market rally by signaling that further rate cuts are possible.
The Fed is expected to lower U.S. interest rates another half-point Wednesday as part of an ongoing effort to bolster the economy.
Though there’s been much debate over how much the Fed should cut rates, the central bank's statement may be more important to the Fed’s credibility and market expectations.
U.S. economic growth skidded to a five-year low of 0.6% in the fourth quarter, reflecting the toll a slumping housing sector has taken on the national economy.
Critics of many stripes think Bernanke is doing a poor job, whether it is lowering interest rates for the wrong reasons or keeping them too high for too long.