Another market disruption from higher interest rates is virtually certain, according to former Federal Reserve Chairman Alan Greenspan.» Read More
Former Federal Reserve Chairman Alan Greenspan said on Friday that U.S. house prices have not bottomed out after a crisis in the subprime mortgage market.
The confluence of major market moves today is stunning as fear once more rules Wall Street. The dollar is at a record low, oil edges towards $100 per barrel, the 10-year Treasury fell below 4%, a level it hasn't seen in years, and stocks are heading sharply lower after a big sell off overseas.
One of my mother's favorite lines is the one about not saying anything if you can't think of something nice to say. Well that was the story of the markets Monday. What a day of angst. Look at this headline from a note sent by MF Global's Andy Brenner Monday afternoon: "The market has traded like a crazed man with no liquidity." Yikes.
Former Federal Reserve Chairman Alan Greenspan said on Tuesday that falling U.S. home prices and high inventories of unsold properties presented a major risk to the U.S. economy and financial markets.
The mighty U.S. consumer may be starting to crack, just as the Federal Reserve signaled that it was through with interest rate cuts barring a sharper economic downturn.
An unusually high degree of risk taking across asset classes made recent financial market turmoil all but inevitable, former Federal Reserve Chairman Alan Greenspan said Sunday.
How much oil pressure can the stock market take before it blows a gasket? Oil continues to surge into record territory, closing in on $88 per barrel and ready to pump right through $90. Stocks are floundering this morning after weakness in Europe and a down day in Asia. China, though, continues to be the exception with Shanghai stocks once more in record territory.
Citizen Bill Clinton just came back from Europe and he says, "It was expensive over there."I asked the former president if he were he still in the White House, would he be concerned about the weakening dollar, and he said he certainly would. "At this level, it's alright, but if it keeps falling it could become precarious," he said.
October's normally the month to fear on Wall Street, but it'll be hard to top the scary volatility of the summer. A hefty economic calendar, the start of corporate earnings season, news from the mired housing market, and the continuing unwinding of the credit crunch will keep market volatility high this coming month.
The fate of the world economy hinges on what happens to house prices in America and that may not be a good thing, former Federal Reserve chairman Alan Greenspan said on Monday.
You can hear the collective sigh of relief as Wall Street gets ready to slam the books on the third quarter today. It's hard to believe after all that rocking and rolling, but the Dow is up 3.8% for the quarter, as of yesterday's close. The S&P 500 is up 1.9% and the Nasdaq, high on a tech rally, is up 4%.
The probability of the U.S. economy slipping into recession has increased recently but is still less than 50/50, former Federal Reserve Chairman Alan Greeenspan said in comments broadcast on Friday.
Even though semi-professional historian Karl Rove has left the White House, they are still paying attention to past administrations at 1600 Pennsylvania Avenue. They're especially paying attention to how Bill Clinton revived his fortunes in the 1990s by fighting with the GOP Congress over spending.
When Erin Burnett's show "Street Signs" called me to talk trade this afternoon, the question was "Is Trade Dead?" I thought, for this Congress, it was--until I did a little reporting. As it happens, Republican and Democratic leadership sources both expect SOME progress on trade before the 2008 elections.
Like an orchestra tuning up, financial markets are trying to find the right pitch after the Fed's big rate move. The market moves have been dramatic, and for the time being, it's likely they'll continue that way.
The battle between the White House and Congress over S-Chip--the acronym for a state-federal children's health program--is a fascinating showdown that is playing out on multiple levels. It's partly about ideology and partly about political strategy. It's partly about health care and partly about spending.
The nation's top money managers, investment strategists and professional economists overwhelmingly expect the Fed to lower the federal funds rate a quarter-point, to 5%.
CNBC presents a definitive look at the life, career and impact of the most important central banker of modern times. See Maria Bartiromo’s interview with Alan Greenspan on CNBC Monday September 17th at 9pm.
Trading should stay tentative ahead of the Fed's Tuesday afternoon announcement. But before that news, Wall Street will have to navigate the first big earnings from the brokerage industry and some important economic data, including inflation measure, producer prices.
Alan Greenspan may call himself a libertarian Republican, but his new book provides a major credibility boost for Democrats on economic policy. The first, and less surprising, blow came in his criticism of the Bush-era spending excesses. Many conservative Republicans have long offered that critique.