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Tight central bank monetary policies and well-grounded expectations of low inflation are to thank for low inflation in recent years, not globalization, Federal Reserve Governor Frederic Mishkin said on Thursday.
The dollar fell to record lows Thursday, hit by fresh evidence that a weak housing market could crimp U.S. growth and force the Federal Reserve to cut interest rates again.
The dollar rebounded from record lows against the euro Wednesday, brushing aside a steeper-than-expected fall in August durable goods orders as buyers took advantage of cheap exchange rates.
New orders for costly U.S.-manufactured goods dropped at the sharpest rate in seven months during August as demand fell across nearly every major category.
The dollar hit a new record low against the euro Tuesday as a surprise plunge in U.S. consumer confidence to nearly two-year lows raised expectations of another Federal Reserve interest rate cut next month.
High energy prices, the housing slump and worries about a recession may not have as much impact on holiday sales.
The dollar hit a record low against the euro for the third straight session Monday, amid fears that a deepening housing slump could rein in economic growth and trigger more cuts in U.S. interest rates
The text from a speech given by Ben Bernanke on "Education and Economic Competitiveness" in Washington D.C. on September 24, 2007.
There's a lot of concern about whether a weaker dollar could cause higher U.S. inflation, but CNBC’s Steve Liesman says not so fast.
The dollar rose marginally from a 15-year low against a basket of currencies Friday, as investors debated whether the U.S. currency's decline has gone too far, too fast.
Federal Chairman Ben Bernanke told Congress the credit crisis has created "significant market stress" and offered fresh assurances that regulators would take steps to curb fallout from the mortgage mess.
The Canadian dollar hit parity with the U.S. dollar for the first time in 31 years Thursday, capping a 62 percent rise from 2002 on the back of booming commodity prices and a deepening disenchantment with the greenback.
The following is the full transcript of the speech made by Federal Reserve Chairman Ben Bernanke on Sept. 20, 2007, before the U.S. House of Representatives' Committee on Financial Services, on the subject of subprime mortgage lending and mitigating foreclosures.
The dollar rallied from a 15-year low against a basket of currencies Wednesday, as investors bet the Federal Reserve's interest rate cut Tuesday will help boost a slowing U.S. economy.
Chief executives such as Ara Hovnanian were the among the loudest voices calling for the Federal Reserve to cut interest rates. Now, after the Fed's surprisingly sharp reduction in rates on Tuesday, CNBC asked several CEOs if they're happy.
The Fed’s rate cuts will do little if anything to help the mortgage and housing industries in the short-term--and the central bank is just at the beginning of a long, hard fight to head off a recession, experts say.
U.S. consumer prices unexpectedly dipped 0.1 percent last month and new home construction hit a 12-year low, data Wednesday showed, underlining concerns about the country's economic outlook.
The Federal Reserve acted Tuesday, cutting the fed funds rate and the discount rate by a half-percentage point each. Oil jumped to a new high as the news was announced and immediately afterwards, stocks rallied in the strongest reaction to a Fed move since 2001. With the Fed funds rate now at 4.75 percent and the discount rate at 5.25 percent, where will the market go? CNBC's experts weighed in.
The Fed cut two key interest rates by half a point, seeking to prevent a steep housing slump and turbulent financial markets from triggering a recession.