President Obama "essentially fired" Fed Chairman Ben Bernanke this week, former Fed Governor Laurence Meyer says.» Read More
A gauge of manufacturing in New York state contracted in June for the fourth time in five months, the New York Federal Reserve said in a report on Monday that also painted a mixed picture on inflation.
Stocks rallied to the finish Friday, led by financials and techs, as a tame core-inflation reading and lower oil helped the market end a chaotic week on a high note.
U.S. Federal Reserve Former Chairman Alan Greenspan said Friday the Fed will have to tighten monetary policy to put a brake on inflation and said the worst of the U.S. credit crisis may have passed.
Stocks regained lost ground heading into the final hour of trade, with lower oil boosting financials and a host of other beaten-down sectors as Wall Street bid to finish a seesaw week slightly higher.
In recent days the Republican standard bearer gave a really strong supply-side taxpayer-friendly speech, hitting all the right notes. Undoubtedly his best economic statement of the campaign to date.
Stocks continued a solid rally Friday, boosted by falling oil prices and investors who swooped in to snatch up battered financial stocks.
Soaring gasoline and energy prices helped drive up U.S. consumer prices during May by the fastest rate since November, a government report showed.
With Fed Chairman Ben Bernanke sounding alarms about inflation, the consumer price index is expected to have risen by 0.5 percent in May.
Sky-high food and fuel prices will make it hard for this company to meet analyst expectations.
Driven up by the cheap dollar, U.S. import prices surged nearly 18 percent above year-ago levels, according to a new report out today. Even removing all energy-related fuels, the surge is still 6 percent.
Is there a July Fed action coming to take back a one-quarter rate cut? I think so. That would put up the target to 2.25%. It would be a shot heard round the world, strengthening the dollar and attracting new liquidity and capital flows into the US economy.
The inflation outlook for 2008 in the U.S., Japan, euro zone and the UK rose again in June, triggering big revisions to economists' interest rate forecasts, Reuters polls showed on Thursday.
The US economy remained "weak" in May as consumer spending slowed due to higher energy and food prices, the Federal Reserve said in its Beige Book summary.
Fed Vice Chairman Donald Kohn hinted that the central bank is inclined to leave rates steady despite rising inflation worries.
The standard of living has decreased for many Americans, a trend that will reverse only after the troubles in the housing market work through, Pimco Managing Director Paul McCulley said on CNBC.
Why trying to solve both problems at the same time could lead to disaster.
Stocks struggled to hold gains Tuesday as bank stocks rallied but comments from Bernanke hung over the market like a cloud. Oil dropped more than $3 to settle at $131.31 a barrel.
The Federal Reserve hopes tough talk on inflation will do the job of moderating price increases, giving it room to avoid raising interest rates.
Stocks ticked higher Tuesday as the rally started in bank stocks and then filtered into the broader market.
Blue chips tried to muster an advance Tuesday, encouraged by a rally in bank stocks, but comments from Bernanke hung over the market like a cloud.