U.S. Treasury Secretary Henry Paulson said on Friday that an economic stimulus program that will put $168 billion into consumers' hands this year and next could help create hundreds of thousands of new jobs.
The U.S. economy seems to be slipping into recession and the Federal Reserve must cushion the pain and make it as brief as possible, two Fed policymakers said.
Orders for big-ticket manufactured goods fell for a second straight month in February, a worse-than-expected performance that provided more evidence of a slumping economy.
Fed Chairman Ben Bernanke’s stock is at a 52-week high on Wall Street --- with the exception perhaps of Bear Stearns, which appears to be selling him short.
Today's statement is another in a series of very significant communications from the Fed. At the extreme, it could mean the Fed is done cutting rates, barring any more massive credit-market upheavals.
The size of the Fed’s expected rate cut today may help stimulate a sluggish economy. But it is unlikely to unfreeze the credit markets, especially the mortgage one.
The Federal Reserve slashed a key U.S. interest rate by three-quarters of a point, to 2.25%, but Wall Street didn't seem to care that the cut was smaller than many had expected.
Fed policy-makers are expected to make the biggest interest rate cut since 1982, while two major Wall Street firms provided some relief to investors with better-than-expected earnings.
As the credit crunch worsens, the Federal Reserve is becoming more imaginative in its tactics. Wall Street is now betting on a full-point cut in interest rates, to 2%, when the Fed meets Tuesday.
The flagging U.S. economy got more mixed news from its troubled housing sector on Tuesday, while evidence of inflation pressures continued to lurk in the producer pipeline.
The U.S. Internal Revenue Service said Monday it would begin sending the first of more than 130 million economic stimulus payments on May 2 and expects to complete the first round of payments by early July.
Lehman shares tumbled more than 20 percent Monday as Wall Street speculated whether or not it's the ailing banking system's next casualty.
Stocks were lower in early trading Monday as Wall Street digested the fire-sale buyout of an investment banking giant: Bear Stearns. CNBC brought the market pros for their perspective on the fallout.
The U.S. Federal Reserve announced emergency measures to stem a fast-spreading global financial crisis, tapping tools last used in the Great Depression to pour funds into cash-starved Wall Street firms.
Fed Chairman Ben Bernanke is throwing all he’s got at the economy, but it may not be enough to combat both a recession and credit crunch.
If investor Jim Rogers woke up as Ben Bernanke, he'd quit and close up the Federal Reserve for providing 'socialism for the rich,' he told CNBC Europe.
U.S. wholesale inventories rose 0.8 percent in January, while sales leapt 2.7 percent, thelargest increase in nearly four years, the Commerce Department said.
An emergency interest rate cut from the Federal Reserve is possible ahead of its March 18th policy meeting, according to a Goldman Sachs research note on Monday.
A second straight month of job losses all but ended the debate over whether the U.S. economy has slipped into recession. Now the question is how to get out.