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.
The Federal Reserve needs to take a more active role in stemming the housing crisis, possibly by exchanging Treasury notes for mortgage notes, Pimco Bonds Chief Information Officer Bill Gross said on CNBC.
U.S. employers cut payrolls for a second straight month during February, slashing 63,000 jobs for the biggest monthly job decline in nearly five years.
The U.S. Federal Reserve took very "deliberate action" when it lowered key interest rates rapidly but this does not necessarily mean more of the same is in store, a top Fed official said on Friday.
Today's jobs report is unlikely to offer a ray of hope amid the gloom over the US economy as the trend for a weakening jobs market is expected to become clearer, analysts said.
The Fed is cutting rates to bolster the economy and keep the credit crunch from getting worse. But in the process, the central bank is creating other problems--including higher inflation
Fewer workers applied for unemployment benefits last week, but the number remaining on jobless aid stood at the highest level in nearly two and a half years.
U.S. home foreclosures and the rate of homes entering the foreclosure process rose to record highs in the fourth quarter. Pending sales of previously owned homes were unchanged in January.
The global credit crisis creates big downside risks to an already softening economy that require bold action from the U.S. central bank, Cleveland Federal Reserve President Sandra Pianalto said on Wednesday.
Federal Reserve districts all saw decelerating economic growth in early 2008, even as prices pressed upward almost everywhere, the central bank's "Beige Book" report on economic conditions said on Wednesday.
The full text of the Beige Book released by the Federal Reserve on March 5, 2008 and based on information collected on or before February 25, 2008.
The text of a speech by Federal Reserve Chairman Ben Bernanke on Reducing Preventable Mortgage Foreclosures given on March 4, 2008 in Orlando, Florida.