Richmond Fed's Jeffrey Lacker said that his dissent from the central bank's exit strategy stemmed from its mortgage-backed securities plan.» Read More
Federal Reserve Chairman Ben Bernanke is under intense pressure to signal a rate cut when he takes center stage Friday at a gathering of central bankers in Jackson Hole, Wyoming.
Strong business investment and higher exports drove the U.S. economy ahead at a robust 4 percent annual rate in the second quarter before turmoil in credit markets struck that is expected to brake growth ahead.
The U.S. Federal Reserve is not rushing to cut benchmark interest rates because it wants to break investors of the view that the central bank is there to bail them out, an article in the Wall Street Journal said on Thursday.
CEOs, politicians and economists are bringing up the "R" word these days. And nearly all of them have a simple solution: the Fed should cut interest rates--and soon.
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Fed policymakers in early August acknowledged they might have to ease a growing credit crunch but hoped for "more normal market conditions" without intervention.
If you think the decline in home prices is bad now, just wait. Two reports out his week show the once high-flying housing market is quicky losing altitude and that prices are likely to head still lower.
U.S. consumer confidence deteriorated in August to its lowest in a year on concerns about a softening labor market and market turmoil stemming from the subprime mortgage crisis, a business research group said on Tuesday.
German business confidence slipped again in August for the third month in a row amid volatility on global financial markets, a closely watched survey showed Tuesday, but the decline was smaller than expected.
Economic confidence among U.S. small business owners fell in August as a slowing housing market soured sentiment, and 41 percent said they had recent cash flow troubles, according to a survey released Monday.
The risk of massive defaults on subprime mortgages and heavy debts now poses a bigger threat to U.S. economic prosperity than terrorism, a panel of U.S. business economists said on Monday.
Job losses in the U.S. construction sector could top one million if a housing downturntips the economy into recession and tighter access to credit dampens business investment.Strength in nonresidential construction may continue to offset a downturn in housing for now, but recent turmoil in credit markets suggests job losses may accelerate in the sectorin the next few months.
Talk about a recession from a very small group of people need to be balanced against the fact that no major strategist is predicting a recession. Many are trimming their forecasts slightly, but that is a long way from a recession. Even Ben Bernanke maintains a forecast of "moderate" growth of 2.5% in the GDP this year, and a slight expansion in 2008.
France on Friday kept up the pressure on the European Central Bank to take account of global financial market turmoil and economic growth when setting interest rates, and said a September rate rise was not a done deal.
A global credit squeeze has most economists convinced the Federal Reserve will come to the rescue and cut interest rates next month, a Reuters poll showed on Wednesday.
Exxon Mobil has delayed work on the 71,600 barrel per day gasoline-making fluid catalytic cracking unit at its 188,160 barrel per day refinery in Chalmette, La., trade sources said on Tuesday.
Recent market turmoil only warrants a change in interest rates by the U.S. central bank if it hits the outlook for inflation or growth, Federal Reserve Bank of Richmond President Jeffrey Lacker said on Tuesday, noting that price pressures remain a worry.
After a run that has seen sizzling growth top 10 percent for four years, analysts say China's supercharged economy is facing strains that could break out into an upsurge of inflation.
Oil prices jumped Friday after the U.S. Federal Reserve cut a key interest rate to calm financial markets and on concerns Hurricane Dean could hit Gulf of Mexico installations.
Peanut butter and jelly maker J.M. Smucker said Friday quarterly profit rose a better-than-expected 42 percent, helped by the acquisition of dairy company Eagle Family Foods, lower restructuring costs and gross margin improvement.