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Congress Federal Budget (U.S.)

  • 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.

  • 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.

  • Donald Kohn

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

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

  • JOBLESS_noTEXT.jpg

    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.

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

  • 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.

  • jobless_claims1.jpg

    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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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:

  • 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.

  • 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.

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

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

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

  • The Federal Reserve has been wise to keep the dollar weak as the economy navigates its way through the current liquidity shortage, the former chairman of the central bank's Dallas branch said.