Despite predicting strong growth and employment, the central banker said the Fed would not hit its inflation target until 2016.» Read More
Global stocks powered higher Thursday as hopes grew that the US economic decline was reaching a bottom, while the euro gained despite expectations of an interest rate cut from the European Central Bank. Experts weigh in on how to help the economy.
Why should we pay attention to four-and-a-half hours of debate followed by highly choreographed photo ops and a communiqué that most of us could have cobbled together on the back of a swanky hotel envelope?
Global stocks began the second quarter lower Wednesday ahead of the G20 summit in London which aims to tackle the financial crisis. Experts tell CNBC that gold is a good buy when above $1,000, but that long-term U.S. Treasurys may be losing their shine.
Global stocks were down ahead of a big week, which includes the G20 summit in London, the European Central Bank policy meeting and monthly employment data out of the U.S. Experts tell CNBC what they expect from the week ahead.
Stocks ended higher Wednesday as a surge in the final minutes of trading pushed all three indexes in positive territory.
Stocks advanced Wednesday after a pair of better-than-expected economic numbers. New-home slaes rose more than expected and durable-goods orders unexpectedly rose, snapping a six-month slide.
The Norwegian kroner is "the best currency in the world" and certainly preferable to the US dollar, UK pound and other currencies where governments are practicing quantitative easing, David Bloom, global head of foreign exchange at HSBC, told CNBC Wednesday.
Futures advanced Wednesday after an unexpected rise in durable-goods orders snapped a six-month slide.
With other central banks acting to create money out of thin air because they cannot lower short-term interest rates any further, the ECB remains wary of the specter of inflation.
Call it what you will: an act of rebellion; blind myopia; a cry for help … but I'm actually starting to believe in the global recovery story.
The Federal Reserve has no option but to start buying Treasurys as the government's needs for financing are huge, but the government bond market is a disaster in the making, Marc Faber, editor and publisher of The Gloom, Boom & Doom Report, told CNBC.
The stock market is still an unsafe place for investors as quantitative easing, by which central banks boost the supply of money attempting to kick-start economies, is unlikely to work, Hugh Hendry, Chief Investment Officer at Eclectica, told CNBC.
We might have strayed a bit from the rulebook on a good dinner party this morning as we sat back and watched hedge fund manager Hugh Hendry of Eclectica lock horns with Liam Halligan, the chief economist at Prosperity Capital and maverick columnist for the UK’s Telegraph newspaper.
Acres of forest have gone to the blade while the mainstream media has debated the issue of bank nationalization, but few if any seem to be prepared to address what seems obvious: the most important banks are already under government control.
Central banks' efforts to introduce measures such as buying various assets and printing money as they bring their interest rates to zero will not work in countries with too high levels of debt, Hugh Hendry, Chief Investment Officer at Eclectica, told CNBC.
The Bank of England and European Central Bank slashed their interest rates to record lows today in an effort to bolster access to credit and contain the impact of a deepening recession.
The figure of $1.3 trillion for the exposure of Western banks to the Central and Eastern European region reported by the Bank for International Settlements is too high, Andreas Treichl, CEO of Erste Bank, one of the biggest banks operating in CEE, told CNBC Wednesday.
The leaders of the European Union gathered Sunday in Brussels in an emergency summit meeting that seemed to highlight the very worries it was designed to calm: that the world economic crisis has unleashed forces threatening to split Europe into rival camps. The New York Times reports.
UK banks are guilty of manipulating the country’s loose regulations to undercut their European competitors and should be regulated by a pan-European body, Hans-Werner Sinn, president of the Ifo Institute for Economic Research, told CNBC Wednesday.
The development boom that turned Poland, Hungary and other former Soviet satellites into some of Europe’s hottest markets is on the verge of going bust, raising worrisome new risks for the global financial system that may ricochet back to the United States.