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CNBC's Hampton Pearson drills down on today's weak jobs report. And, Phil Orlando, Federated Investors; and Zachary Karabell, River Twice Research, provide their outlook on the markets and economy. Also, discussing whether the increasing number of people on disability is negatively impacting the economy and business, with Rana Foroohar, Time Magazine; Jim Pethokoukis, American Enterprise Institute; and Matt Swift, Legacy Management Group CEO.
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Recent data on U.S. inflation has not shown price pressures abating, and the Federal Reserve needs to stay vigilant, Philadelphia Federal Reserve Bank President Charles Plosser said on Friday.
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Financial markets expect the Federal Reserve to hold benchmark interest rates steady Wednesday as the central bank gauges the impact of recent market turmoil and subprime mortgage woes while prices remain stubbornly high despite a softening economy.
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Federal Reserve Chairman Ben Bernanke urged Congress on Tuesday to bolster regulation of mortgage giants Fannie Mae and Freddie Mac, and suggested limiting their massive holdings to guard against any danger their debt poses to the overall economy.
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Financial markets are working well despite sharper swings in asset prices, and overall liquidity does not seem in short supply after last week's stock market declines, Federal Reserve Governor Kevin Warsh said on Monday.
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Federal Reserve Bank of Saint Louis President William Poole said on Monday that low inflation must be a central bank's prime goal, adding this had helped cushion the U.S. economy from its cooling housing market.
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St. Louis Federal Reserve President William Poole on Friday dismissed fears that the U.S. economy was heading into a recession, and said there was no pressing need for the central bank to act against a falling stock market.
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Former Federal Reserve Chairman Alan Greenspan was quoted as saying on Thursday that a recession in the United States is possible, though not probable this year as inventory problems in the economy are being addressed quickly, Bloomberg reported.
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Federal Reserve officials were uncertain inflation was firmly on a downward path at their last meeting, minutes of their Jan. 30-31 meeting released on Wednesday show.
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Rep. Barney Frank argues that prospects of slower growth seem to be equally as important a risk as the possibility of a flare-up of inflation.
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Saint Louis Federal Reserve Bank President William Poole said on Thursday that negative U.S. savings rates probably reflected problems in measurement, but would still require a slowdown in spending at some point.
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Retail sales, hurt by a big drop in auto purchases, slowed at the start of the year while business inventories turned in the poorest showing in 17 months. The Commerce Department reported Wednesday that retail sales were essentially flat in January, the poorest performance since a 0.2% drop in sales in October.
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Dallas Federal Reserve President Richard Fisher said on Friday he is fairly comfortable with the inflation outlook but would "aggressively" argue for further interest rate increases if inflation does not ebb as expected
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Saint Louis Federal Reserve President William Poole said inflation ought to moderate this year amid solid growth, but if this failed to happen, he would press for policy action.
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Philadelphia Federal Reserve Bank President Charles Plosser said more policy tightening may be needed to keep price rises in check as the economy resumes growth.
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Commerce also reported a 68% increase in fourth-quarter profit to $78.7 million, or 40 cents a share, from $46.9 million, or 26 cents. Profit matched the average analyst forecast, according to Reuters Estimates.
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A stronger-than-expected employment report failed to dent expectations the next Fed policy move would be an interest rate cut this year, a Reuters poll of Wall Street economists showed on Friday.
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Late payments and new foreclosures on U.S. homes rose in the third quarter and are likely to grow as a massive wave of adjustable-rate mortgages reset at higher interest rates, the Mortgage Bankers Association said on Wednesday.
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The dollar gained after U.S. consumer spending in November outstripped expectations, but gains were kept in check as many still expect the economy to slow in 2007.
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The dollar was mixed against major currencies after the Federal Reserve kept benchmark U.S. interest rates steady at 5.25%, as expected, and said inflation was likely to moderate over time.
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The dollar fell against the euro and pared gains versus the yen on Monday after ex-Federal Reserve chief Alan Greenspan warned investors to expect "a few years of dollar weakness."