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
Housing finance giants Fannie Mae and Freddie Mac have the potential to pose systemic risks to the financial system and need a stronger regulator, U.S. Treasury Secretary Henry Paulson said on Tuesday.
We are seeing a modest rally, led by financials. Lehman, for example, has gone from $12 at its bottom shortly after 10 am ET to just about $14, up 11 percent, though most other financials remain in negative territory.
As the dollar trades near an all time low against the euro, the question is whether Fed Chairman Ben Bernanke and Treasury Secretary Hank Paulson can talk tough enough to pump up the sagging greenback.
President Bush urged lawmakers to move quickly in putting into force legislation designed to help prop up mortgage giants Fannie Mae and Freddie Mac while declaring the nation's financial system to be "basically sound."
Stocks fell sharply after Federal Reserve Chairman Ben Bernanke issued a dour forecast ahead for the US economy, saying more hard times are on their way that will pose a major challenge to policy makers.
The NASDAQ has also hit a new two year low. If this continues, we are heading toward a 90 percent downside day, where 90 percent of the volume is on the downside, one of several that have occurred in the past few months.
A weakening housing market, a strained banking system, and rising oil prices threaten the U.S. economy, and restoring financial market stability is a top priority, Fed Chairman Ben Bernanke said.
With the Dow at levels not seen since July 2006, today's weak economic data is weighing further on the markets.
Mr. Bernanke's job is to walk the fine line between acknowledging--and defending--the Fed's expanding role in the regulation of investment banking, and not appearing to be coddling excessive risk-takers.
Dismal data on inflation and retail sales released on Tuesday flashed fresh signs of stagflation in the U.S. economy.
The Treasury and the Federal Reserve should not bail out Fannie Mae and Freddie Mac as this would increase the already gaping U.S. public debt, investor Jim Rogers, CEO of Rogers Holdings, told "Worldwide Exchange."
Discussion of persistent financial market turmoil is seen as likely to overshadow the Federal Reserve's semi-annual monetary policy outlook when Fed Chairman Ben Bernanke testifies before Congress on Tuesday.
Fed Chairman Ben Bernanke's testimony before a Senate committee takes on even greater importance for Tuesday's markets, now that the Fed and Treasury have promised to backstop mortgage giants Fannie Mae and Freddie Mac.
To give you an idea of how much trading went on today, Freddie Mac traded nearly 400 million shares--nearly two-thirds of the entire 646 million share float. Markets rose briefly in the middle of the day as Reuters reported that Fed Chairman Bernanke would open the Fed's discount window to Fannie and Freddie...
Volatility ruled the market Thursday because of oil prices, financial fears and an $18 billion acquisition. Following are the day's top five videos.
What follows below is an unofficial transcript of my interview on Kudlow & Company last night with investment banker and former Texas Senator Phil Gramm. Mr. Gramm is a top economic advisor to John McCain.
As banking and financial stocks lead the overall indexes down into bear-market territory, Fed head Ben Bernanke and Treasury man Henry Paulson are testifying today on ways and means to reform all manner of bank and securities dealer supervision and regulation.
Fed Chairman Ben Bernanke said financial market turbulence persists and that government officials are focused on helping the financial system regain stability.
The United States is heading for recession despite modest growth in the first half of the year, but strength in Germany is keeping European growth prospects a bit brighter, Fitch Ratings said on Thursday.
The number of U.S. workers filing new claims for jobless benefits dropped by a much bigger-than-expected 58,000 last week to 346,000.