Congress Federal Budget (U.S.)

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  • paulson_henry_0611.jpg

    U.S. Treasury Secretary Henry Paulson said on Tuesday he was confident the U.S. and global economies were resilient but welcomed an emergency rate rate cut by the U.S. Federal Reserve as a helpful move.

  • President Bush ocomments on the US Economy from the White House, with Vice President Dick Cheney, left, and Treasury Secretary Henry Paulson, right.

    Agreement between the White House and Congress that the stumbling U.S. economy needs help was a big first step but it was clear Saturday there was room for sparring over crafting a rescue package.

  • Forget rate cuts and stimulus packages. In Wall Street's eyes, the recession is already here and the credit crunch is far from over.

  • Weaker U.S. growth means that more interest rate cuts are "quite possible" but inflation is also still a risk, Federal Reserve Bank of Richmond President Jeffrey Lacker said Friday.

  • U.S. consumers' mood brightened a bit in January, defying expectations driven by the constant drumbeat of talk about a possible recession, weak jobs market and falling stock prices.

  • NYSE Traders

    Wall Street is sending a clear message to Washington: an economic stimulus plan and Fed  rate cuts are too little, too late.

  • Federal Reserve Bank Chairman Ben Bernanke

    Federal Chairman Bernanke told lawmakers that extending tax cuts put in place during the Bush administration could have a positive long-term effect on the economy.

  • Federal Reserve Bank Chairman Ben Bernanke

    Most analysts say Fed Chairman Bernanke will move cautiously even if the Fed cuts interest rates by half a percentage point at its Jan. 29-30 meeting, as many now expect.

  • U.S. home building projects started in December fell by 14.2 percent to the lowest pace inmore than 16 years, but jobless claims fell unexpectedly last week.

  • A Federal Reserve official and a state secretary warned Thursday the slowdown in the U.S. economy was quickening, because of weak housing prices, falling stock prices and rising energy costs.

  • Ben Bernanke

    Fed Chairman Bernanke has indicated he is open to congressional and White House efforts to develop a rescue package to avert a recession.

  • Shopper with bags

    Democratic and Republican leaders of the U.S. House  agreed to develop a bipartisan economic stimulus plan to help avert a possible recession.

  • Federal Reserve Bank Chairman Ben Bernanke

    Federal Reserve Chairman Ben Bernanke wants Congress to act quickly to pass an economic stimulus package, Sen. Charles Schumer told CNBC.

  • The U.S. economy continued to grow in the final weeks of the fourth quarter but the paceof activity slackened amid subdued holiday spending and a weak housing sector.

  • The U.S. economy is probably in a recession or about to slide into it, former U.S. Federal Reserve Chairman Alan Greenspan said in an interview with The Wall Street Journal.

  • Cash Register

    U.S. consumers are tightening their purse strings, and the squeeze may be severe enough to topple the U.S. economy into recession.

  • Ben Bernanke, President Bush's top economic adviser, speaks in the Oval Office at the White House after Bush named him to take over the Federal Reserve from retiring Alan Greenspan, in Washington, Monday, Oct. 24, 2005. It was the third time in as many years the president has turned to the 51-year-old Bernanke for a sensitive post. Bush named him to the Fed board in 2002, then made him chairman of the president's Council of Economic Advisers earlier this year. (AP Photo/J. Scott Applewhite)

    The Federal Reserve is unlikely to cut interest rates before its next scheduled meeting in late January but may consider doing so if the outlook deteriorates sharply before then, the Wall Street Journal reported on Monday.

  • China Trade

    The U.S. trade deficit in November surged to the highest level in 14 months, reflecting record imports of foreign oil. The deficit with China declined slightly while the weak dollar boosted exports to another record high.

  • Gas Pump

    Inventories at U.S. wholesalers rose 0.6 percent in November, but they did not keep pace with sales, which saw the biggest monthly increase in more than two years on rising petroleum prices, the government reported Thursday.