A U.S. Treasury official and a director at the New York Federal Reserve are among those who have been considered to replace two hawkish Fed policymakers, according to people familiar with the searches.» Read More
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.
In this market, ConEd is everybody's friend. And the high dividend yield is only half the story.
I’m enraged. Yep. ...Yesterday, Federal Reserve Chairman Ben Bernanke, in a speech to bankers in Orlando, Fla., said that the best way out of the foreclosure mess is not to modify all these delinquent loans but to actually reduce the principal. What?!
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.
By many measures, confidence in the dollar has never been lower, and some fear more Federal Reserve interest rate cuts will make matters worse by swelling inflation and undermining long-term U.S. economic health.
Stocks declined Tuesday, with financials taking a beating after news of more fallout from the subprime mess at Citigroup. Energy stocks also fell as oil prices receded.
Stocks declined Tuesday after dismal corporate news about Intel and Citigroup.
U.S. regulators said they are watching credit cards for signs they may be the next trouble spots as strained financial markets constrain credit...
Today I'm at the 2008 Luxury Summit in Beverly Hills, a large event where experts will talk about the good, the bad, and the really ugly trends at the high end of the market. I'll blog what I learn, especially as it relates to public companies like Tiffany and LVMH (which trades in Europe).
Federal Reserve Chairman Ben Bernanke called Tuesday for additional action to be taken to prevent more distressed homeowners from falling into foreclosure.
I have to say I’ve been confused over the last few months. Treasury officials, big lenders like Countrywide, and President Bush keep telling me that everybody is now working together to stop foreclosures, to modify loans, to keep Americans in their homes.
Three top government officials--including Fed Chairman Ben Bernanke--signaled that the expanding housing crisis is likely to take an even bigger toll on banks.
U.S. stock index futures pointed lower Tuesday, with no major data expected and with corporate news adding to investors' gloomy mood.
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 banking industry, a source of pain for the markets since the credit crunch began, is center stage in today's trading. Citigroup shares this morning are getting whacked after Merrill Lynch slashed earnings estimates and said Citi could take another big writedown.
If Sen. John McCain wants to run as a candidate of change, and if he’s truly interested in distancing himself from President Bush, he should reverse the declining fortunes of the Bush wartime dollar. America's prestige is on the line. Right now the greenback is in virtual freefall.
In a series of exclusive live appearances on CNBC's Squawk Box this morning, Warren Buffett told us that by a "common sense definition", the U.S. economy is already in a recession, even if it hasn't met the technical definition of two consecutive quarters of negative growth. He restated, however, his view that over the long-run the U.S. economy will do fine and that each generation will live better than the one before it.
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.
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.