A worse-than-expected report on December job growth fueled worries about a U.S. recession but also heightened speculation of more interest-rate cuts.
Hiring practically stalled in December, driving the nation's unemployment rate up to a two-year high of 5 percent and fanning fears of a recession.
The drag on the U.S. economy from a deep housing slump should ease by mid-year, paving the way for stronger economic growth, a top White House adviser told CNBC.
The first employment report of the year looks set to make or break the trading day for stocks worldwide, as investors' fears about the fate of the U.S. economy grow.
Worries about inflation may limit any monetary easing by the Federal Reserve, even though credit crunch and a slower economy have investors expecting aggressive interest rate cuts, The Wall Street Journal said on Friday.
President Bush said he was considering the possibility of offering a fiscal stimulus package to help boost the economy but said he has not made a decision yet.
New orders at U.S. factories surged a bigger-than-expected 1.5 percent in November on a bigrise in orders for nondurable goods, a government report showed on Wednesday.
The text of the minutes released January 2, 2008 from a Federal Open Market Committee meeting held on December 11. 2007.
Pakistan's brief period as a destination for adventurous investors seems over for now, as the killing of opposition leader Benazir Bhutto brings fresh instability to an already volatile nuclear-armed nation.
U.S. consumer confidence rose slightly in December with a marginal improvement in the outlook for business conditions, employment and inflation, according to a private report on Thursday.
Weak durable goods orders last month fueled concern on Thursday over the resilience of the U.S. economy to the country's steep housing slump.
The economy is continuing to show further signs of weakness and rising inflation, according to the latest government reports.
Congress approved a one-year delay in imposing the alternative minimum tax on over 20 million additional taxpayers. President Bush will sign the measure.
Americans are going digital in more ways than one. In a release, the U.S. Census Bureau's Statistical said that not only are people purchasing consumer electronics transitioning from analog to digital format, they're also buying products digitally.
The U.S. House of Representatives on Wednesday approved a $556 billion bill to fund most of the federal government through September 2008, ending a year-long budget fight with President George W. Bush by also including new money for the Iraq war
Treasury Secretary Henry Paulson said Monday that moves by some big banks to bring off-balance sheet investments tied to subprime mortgages back onto their books would help ward off a widespread credit crunch.
Everybody seems to have an opinion on the Federal Reserve's plan to ease the global credit crunch. Here's what some CNBC guests were saying Thursday.
Confronting the Senate and White House, House Democrats for a second time passed tax relief for 21 million people, going after companies and hedge fund managers that shelter money offshore. The vote Wednesday was a near party-line 226-193.
Central banks banded together to make it easier for stressed banks to borrow money in a credit crunch that threatens to knock the U.S. economy into recession.
Major central banks, including the Federal Reserve and the European Central Bank, acted in unison Wednesday in unveiling plans to provide liquidity to the banking system, where funds covering a longer span of time have become scant.