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.
The combined punch of subprime mortgage defaults and heavy debt remains the biggest risk to the health of the U.S. economy, a panel of business economists said Monday.
Plans for sweeping federal programs that would aid troubled mortgage borrowers would bring unfair relief to speculators and reward investors who made bad bets, U.S. Treasury Secretary Henry Paulson said Thursday.
The chance of an aggressive 75 basis points cut in the Federal Reserve's benchmark interest rate shot up to 62 percent on Friday, as U.S. equity futures pointed to a lower open and Treasury prices surged.
A Bay Area suburb grappling with declining revenue and ballooning employee expenses may become the first city in the state to declare bankruptcy.
The U.S. economy is in a slowdown but not headed into a recession, President Bush said Thursday after new data showed slow fourth-quarter growth and a bigger-than-expected jump in unemployment claims.
The portion of U.S. junk bonds trading at distressed levels rose to 16.9 percent in February, up from 11.1 percent in January in a sign that defaults are headed higher, Standard & Poor's said on Wednesday.
Applications for U.S. home mortgages plunged to their lowest level this year, as rising long-term interest rates curbed incentives to refinance, an industry group's data showed on Wednesday.
New orders for long-lasting US-made manufactured goods fell by 5.3 percent in January, the biggest drop in five months and more than analysts expected.
How serious is the risk of inflation? It depends on which Fed governor you ask.
The text of Federal Reserve Chairman Ben Bernanke's testimony to the House Financial Services Committee on Febuary 27, 2008.
A top Federal Reserve official said Tuesday that the danger the U.S. economy will weaken further is a bigger worry than higher inflation.