Flashes of illumination rather than fireworks are expected at the annual meeting of top central bankers and economists in Jackson Hole, Wyoming.» Read More
The main event this week is the Fed meeting on Tuesday and investors will tune in to see if Bernanke & Co. offer any insight on inflation. Plus, more earnings, including Cisco, P&G and AIG.
And Ben Bernanke was wrong. A year later we look back to see whose strategy was best for this country.
The surges this year in oil and food prices could not have come at a worse moment for the typical American worker, who has not had a raise to speak of in this decade. Still, the Federal Reserve’s policy makers - its governors and the presidents of its regional banks - are convinced that wage pressures could emerge unexpectedly, The New York Times reports.
The US economy, desperately looking to stave off a recession, might find salvation in an unlikely place: volatile oil prices.
An emergency dose of government stimulus helped the U.S. economy grow at a 1.9 percent annual rate in the second quarter, a soft pace but enough to take it off a path perilously close to recession.
The US economy probably grew modestly in the second quarter, but analysts believe Thursday's GDP report will mainly reflect the help from stimulus checks.
The Federal Reserve said it is extending its emergency borrowing program to Wall Street firms and is taking other steps to ease a severe credit crunch that has hobbled the national economy.
Inflation is a concern in the United States and headwinds to economic growth may be picking up, Minneapolis Fed President Gary Stern said in a newspaper interview published on Monday.
The top U.S. securities regulator remains steadfast in a plan to broaden an emergency rule to curb abusive short selling despite opposition from the hedge fund industry and other short sellers.
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The following is the full text of the Beige Book released by the Federal Reserve on July 23, 2008 and based on information collected on or before July 14, 2008:
The pace of U.S. economic activity slowed somewhat through mid-July and price pressures were elevated or increasing across the country, the Federal Reserve said.
The government would help struggling homeowners get new, cheaper loans and be allowed to offer troubled mortgage giants Fannie Mae and Freddie Mac a cash infusion as part of legislation that aims to calm the chaotic housing market.
Oil's trend lower has whipped up buying in stocks and could do the same Wednesday, if a string of major blue chips' earnings don't disappoint before the opening bell.
Oilman T. Boone Pickens says he's pushing his alternative energy proposal to Congress not because he wants to make money through his own businesses, but because he knows how to solve the nation's energy problem.
U.S. consumers are going to continue to feel pain until housing prices stabilize, even though global growth remains mostly strong, General Electric Chairman Jeff Immelt said.
To fend off inflation, the Federal Reserve probably will need to boost interest rates "sooner rather than later" even if employment and financial conditions haven't revived, the president of the Federal Reserve Bank of Philadelphia said Tuesday.
Treasury Secretary Henry Paulson said America's housing market could turn a corner and begin recovering within months, but it will take longer to resolve all housing-related problems.
The U.S. economy needs months to recover from its slowdown, but the banking system remains sound despite a home mortgage crisis that could cause more problems, Treasury Secretary Henry Paulson said.
The U.S. economy may have avoided a recession but will grow below trend for some time as firms face higher prices for a range of goods that will cut into profits, according to a panel of economists surveyed.