The Fed should "explicitly" say it will keep rates near zero until the economy is within a year of reaching Fed goals, a policymaker said.» Read More
US stock index futures pointed to a slightly higher open Tuesday, having slumped to a 12-year closing low in the previous session, as investors braced for economic data and a testimony from Federal Reserve Chief Ben Bernanke.
Nationalizing insolvent US banks is the best solution to avoid a Japan-like scenario in which 'zombie' financial institutions would eat up public resources while the US economy would teeter on the brink of depression, Nouriel Roubini, economics professor at NYU and chairman at RGE Monitor told CNBC Tuesday.
Dallas Mavericks owner Mark Cuban was celebrating last night as "Man on Wire" won an Oscar last night. Cuban's Magnolia Home Entertainment will release the documentary on DVD. But we're loving what Cuban has done on his blog.
The U.S. unemployment rate -- now at 7.6 percent, the highest in more than 16 years -- is expected hit a peak of 9 percent this year, according to the latest survey by the National Association for Business Economics to be released Monday.
Is inflation Dead? While Ben Bernanke and most of the economics profession believes that it is, this is largely because of the Phillip’s curve — which argues a trade-off between unemployment and inflation, or recession and recovery.
Bank shares have been hammered for two days and some traders are pointing to a "slip of the tongue" Fed Chief Ben Bernanke made when answering questions at the national press club this week.
Billionaire investor Wilbur Ross, chairman and CEO of WL Ross & Co., shared his insight on Obama's economic plans, the SEC, the housing market and more with CNBC.
As the economy continues to struggle, the public is growing increasingly concerned about losing jobs, not having enough money to pay the bills and seeing their retirement accounts shrink, according to an Associated Press-GfK poll.
FOMC participants are beginning to doubt the possibility of an economic turnaround in 2009, agreeing that the best case scenario would be for an extremely slow, and potentially delayed, turnaround starting late this year.
Below are the minutes released by the Federal Open Market Committee after its Jan. 27-28 meeting:
Paul McCulley, managing director of Pimco, says he is looking for more details on the bank rescue plan than Treasury Secretary Timothy Geithner's is willing to provide.
Here's a comparison of the $838 billion economic recovery plan passed by the Senate with an $820 billion version passed by the House.
Talk about a busy day: we have Mr. Bernanke testifying, Treasury Secretary Geithner speaking, the Senate voting on the stimulus bill, and a huge Treasury auction at 1 PM.
Government action to shore up the economy and improve the housing climate probably will send mortgage rates to 4.5 percent, Bill Gross, co-CEO at the Pimco bond fund, said Monday.
The latest employment data shows a loss of 598,000 jobs in January, slightly more than expected, while the unemployment rate shot up to 7.6 percent. CNBC asked economists, executives and political leaders what the deep cuts mean for the economy.
Economists predict another steep decline in payrolls for January, with the jobless rate expected to reach 7.5%.
The Fed could cause Zimbabwe-like inflation making the US a 'banana republic,' famous bear Marc Faber said.
“We need a stimulus bill, and we need it now,” said Jack Bogle, founder of the Vanguard Group. Bogle said the U.S. is in a deep recession that could turn worse if actions are not taken quickly.
Whether it's Friday's jobs report or some other bad news, the stock market is likely to retest the November lows. But pros say look past the bottom and start buying.
If this recession has you so mad you just want to shake someone, check out this new line of stress-busting dolls called "Squeeze the Banker," that lets you hold them accountable — literally! Collect the whole set: Paulson, Bernanke and Greenspan. Plus, more stress-busting outlets.