WASHINGTON, June 1- U.S. consumer spending growth unexpectedly stalled in April as households cut back on purchases of automobiles and continued to boost savings, suggesting the economy was struggling to gain momentum early in the second quarter. The Commerce Department said April's unchanged reading in consumer spending growth compared with analysts'...» Read More
Oil dropped as much as $3 Thursday, as credit and economic fears pounded global financial markets and spurred investor selling.
St. Louis Federal Reserve Bank President William Poole said on Wednesday financial market turmoil had not undermined the U.S. economy and there was no need for the central bank to ride to the rescue with an emergency rate cut.
Annual inflation in the 13-nation euro zone currency area eased to 1.8 percent in July to stay well within the European Central Bank's target area even though economists expect it to raise interest rates next month.
Consumer prices in Germany rose 0.4% in July from June and were up 1.9% from a year earlier, according to final figures from the Federal Statistics Office.
Oil prices rose on Tuesday as concerns about a newly formed tropical storm in the Atlantic countered fresh troubles in credit markets.
U.S. producer prices rose by a more-than-expected 0.6% in July, Labor Department data on Tuesday showed, but the gain was driven by energy costs and core inflation facing producers grew only slightly.
China's retail sales growth accelerated in July, the government said on Tuesday, reflecting strong household spending in the world's fourth-largest economy but also a pick-up in inflation that is worrying policy makers.
Galloping food prices boosted Chinese consumer inflation to 5.6% in July, the highest rate in more than a decade, leaving the central bank with a dilemma over whether to tighten policy further.
Oil edged lower on Friday as the crisis in world credit markets weighed on investor sentiment, but a late rally after central banks plowed more cash into the financial system erased most of the day's losses.
A market crash, currency meltdowns, bubbles and war … Alan Greenspan weathered them all during his stint as Fed chief.
Though it may not seem like much by the relatively loquacious and candid ways of his successor Ben Bernanke, Alan Greenspan was a proponent of transparency and made the Fed more transparent than his predecessors– even if his speeches and official testimony were memorably obtuse.
Tracts about the Federal Reserve and its chairmen may not fill book shelves the way ones about the Constitution, the Supreme Court or presidents do, but they've be come more common in recent years.
Fed Chairman Alan Greenspan ran the central bank during interesting times, marked by many significant global events and financial shocks, which will no doubt figure into his aptly titled, forthcoming book “The Age of Turbulence: Adventures in a New World”. Here are the major events and moments of the Greenspan era.
Alan Greenspan has received more than his share of awards and honorary degrees in his storied career. Earlier this year, Greenspan was the recipient of a special Lifetime Achievement Award at CNBC's third annual Executive Leadership Awards ceremony in New York.
China's wholesale inflation rate unexpectedly slowed in July, showing cost pressures at the factory gate remain in check despite a food-related surge in consumer prices.
Oil rose Wednesday, as draws in U.S. crude and gasoline stockpiles overcame wider concerns about the health of the world's largest economy.
Crude oil prices rose Tuesday, pulling out of a nosedive after news of new refinery problems in the United States rekindled supply worries during the summer driving season.
Oil and gasoline futures plunged Monday, on concerns about the economy's health and as investors sold to lock in profits from last week's record-setting rally.
Oil tumbled below $76 per barrel Friday, dragged down as disappointing U.S. economic data helped send stock markets down again