Jack Ablin, BMO Private Bank executive VP & CIO, and David Kelly, JPMorgan Funds chief global strategist, discuss when the Fed will likely taper. "We are going move away from taper and put an emphasis on forward guidance," says Ablin.» Read More
Below is the statement released by the Federal Open Market Committee after its Oct. 28-29 meeting on interest rate policy:
The Federal Reserve will unveil its decision on interest rates Wednesday afternoon, and a cut is widely expected by investors. CNBC asked former Federal Reserve officials to weigh in on the upcoming decision.
Traders believe it’s all but certain the Fed will cut rates for the second time this month. The big question is, just how low will the Fed go?
In nearly a century, no Treasury secretary has faced a more difficult financial crisis than the one Henry Paulson is contending with. For months, he and his team have been working around the clock, often seven days a week, trying — in vain — to keep it from deepening, according to the New York Times.
It seems there is a global effort to exacerbate the problems and worries of the world. Let's start in Japan where Prime Minister Taro Aso said today that people should not be over-concerned about daily movements in Japanese share prices, after the benchmark Nikkei average fell to a 5-year low.
Lawmakers have called key players from the past and present to congressional hearings in an effort to find out what caused the biggest financial crisis since the 1930s and determine how the government plans to get the nation out of the mess.
The big debate now is how deep and how long the recession will be. The short answer is bad enough and probably the worst in 25 years.
The cruel earnings season for the American worker intensified Wednesday as more companies announced layoffs.
The US economy is entering a two-year recession that will be longer and deeper than previously feared, said Nouriel Roubini, a well-known economist and professor at New York University.
The fundamentals for commodities were not affected by government policies that are propagating inflation, Jim Rogers, CEO of Rogers Holdings, told CNBC Wednesday.
Why does the media hold a cable-television host to a higher standard than CEOs and top federal policy makers?
Democrats in Congress say any new economic stimulus bill would probably include road and bridge construction, help for state budgets and maybe new tax rebates.
The Fed could lend up to $540 billion in a new facility aimed at restoring liquidity for money market funds, Fed officials said.
The possibility of a second economic stimulus package gained momentum after Fed chairman Bernanke urged Congress to consider a new plan, while Treasury secretary Paulson said in a briefing that giving money to banks won't hurt taxpayers. Following are today's top videos:
Economists say the best bang for the buck will come from helping housing, not another tax cut or extended unemployment benefits.
A second economic stimulus package gained sudden momentum after Federal Reserve Chairman Ben Bernanke came out in support of the idea...
Federal Reserve Chairman Ben Bernanke told Congress Monday that a fresh round of government stimulus is a good idea because there's a risk the country's economic weakness could last for some time. Tell us what you think.
New York Governor David Patterson and New Jersey Governor Jon Corzine sounded off on the economy, Wall Street and regulation on Monday.
The US government mishandled the credit crisis, much as it did Hurricane Katrina three years ago, say crisis management experts.
Investors continued to be rattled by worries that the prolonged credit crisis has already pushed the global economy into a recession.