Bank of England Governor Mervyn King stood firm against bailing out struggling banks on Wednesday, but hinted that interest rates had reached their peak as he made his first comments since the credit crisis swept global markets.
China's retail sales growth surged in August to its quickest pace in more than three years, beating forecasts, but analysts said the jump largely reflected stronger inflation, not necessarily quicker underlying growth.
The U.S. trade deficit narrowed slightly in July as exports continued to grow this year at a stronger pace than imports, even though both categories set records, a Commerce Department report showed on Tuesday.
China's consumer price inflation jumped to 6.5% in August, the highest level since December 1996, as a shortage of pork contributed to a surge in food prices. The inflation rate, up from 5.6% in July, easily surpassed economists' forecasts of 5.9% and cemented expectations that the central bank will keep tightening monetary policy.
The prepared text from Janet Yellen's speech to the National Association for Business Economics’ Annual Meeting in San Francisco, California
There are 6 1/2 trading sessions until the Federal Reserve says for certain whether it's lowering interest rates. They're apt to be some of the most anxiety-ridden times on Wall Street in years.
CNBC talks to the the experts about what investors should do in this market.
Investors will look in the coming week for any signs of calm returning to distressed money and credit markets and await a signal from Federal Reserve Chairman Ben Bernanke on whether an interest rate cut is imminent.
August non-farm payroll employment dropped by 4,000, the weakest monthly report in four years. Strategists, analysts and economists offer CNBC their insights.
International Monetary Fund Managing Director Rodrigo Rato said on Friday he expected a downward revision of IMF world growth estimates for 2007 and 2008 because of global credit turmoil.
Dallas Federal Reserve President Richard Fisher said on Thursday that there is still a lot of analysis ahead before the next Fed decision on interest rates.
Turmoil stemming from subprime mortgage delinquencies could dampen demand for homes and ultimately slow economic growth, Federal Reserve Governor Randall Kroszner said Thursday.