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President-elect Barack Obama warned of dire consequences if Congress doesn't pass his economic stimulus plan...
Here is the prepared text for a speech given by President-elect Barack Obama on Thursday at George Mason University in Fairfax, Va., as released by his transition office.
President-elect Obama's speech on the economy this morning is designed to hammer one point home: if the government does not act aggressively, the recession could linger for years.
A government stimulus must ensure that financial institutions are recapitalized and remain “healthy,” said Frederic Mishkin, former Federal Reserve Board governor and Columbia University economics professor.
The Dow Jones Industrial Average could rally to 11,000 in the short term as optimism over incoming President Barack Obama boosts investors’ confidence, Clem Chambers, CEO of ADVFN, told CNBC.
President-elect Obama told CNBC he plans "a substantial overhaul" of financial markets in the coming months, including a major revamping of regulatory agencies.
That this stock does well during recessions is just one of many reasons it's a Mad Money favorite.
Here and there are some small signs that the economy is at least bottoming — a crucial stepping stone to meaningful recovery. For example, the ISM non-manufacturing services report released today for December came in at 40.6 on the composite index, compared to 37.3 in November.
The promise of an Obama stimulus package has raised hopes that the battered housing sector will soon stabilize. That's encouraged investors to buy home builder stocks — but Ivy Zelman of Zelman and Associates warns investors to be very selective.
As Congress comes back from vacation and starts a new session with new members, the first task is the stimulus plan. While President-elect Obama had hoped for a bill to sign by his inauguration, the political wheels are unable to spin fast enough to produce a document until mid-February.
The economy's breathing, and that's good news for Wall Street – and the country.
We need massive government invention to get out of the economic mess we're in. We don't want the next ten years to be called America's lost decade. That's why the American people, in their infinite wisdom, sent a huge Democratic majority to Congress and gave Obama the White House.
Stocks snapped a three-day winning streak Monday as traders cashed in some of their chips from last week's rally following some dismal reports on the telecom and financial sectors.
In a pleasant surprise, Team Obama is adding a series of business tax cuts to their overall stimulus package. News reports suggest that personal tax credits along with the new business tax cuts will comprise roughly 40 percent of the estimated $750 billion package.
Stocks turned mixed Monday, the second day of trading in the new year, as a construction report came in much better than expected, as did U.S. auto sales. Stocks started off the day sharply lower as investors cashed in some of their chips after last week's rally that pushed the Dow up more than 6 percent and past the key 9,000 mark.
Stocks declined Monday, the second day of trading in the new year, after a rally last week that pushed the Dow up more than 6 percent and past the key 9,000 mark. A report that showed construction spending fell by half of what was expected helped shave some of the loss.
Government actions will be the key influence in how the economy acts in 2009, Pimco co-CEO Mohamed El-Erian told CNBC.
Wall Street looked set to open lower in the second day of trading of the year after Friday's rebound, with investors expected to take some profits following the Dow's rise to more than 9,000.
Wall Street hopes to continue Friday's rally into the first week of the new year after the Dow closed above 9,000 for the first time in two months. Traders expect more money to be put back to work as investors shop for bargains.
I've made my predictions for 2009, so It only seems appropriate to look back at the predictions I made a year ago. The world has been transformed by the financial crisis over the past year, so I have to say I'm pleasantly surprised by how much I actually got right, and how much continues to seem to be true.