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Here are the latest video reports from Jackson Hole, Wyo., where Federal Reserve Chairman Ben Bernanke said that the central bank is prepared to act "as needed" to help provide liquidity to the financial system but won't bail out investors who made bad decisions.
On Friday, Federal Reserve Chairman Ben Bernanke will address the annual monetary conference held in Jackson Hole, Wyo. Amid the U.S. subprime mortgage mess, tightening global credit and a volatile market, everyone is waiting on what Bernanke will say -- and do.
Economic data released Friday showed inflation under control in July while U.S. factories were busier than forecast, portraying a resilient economy in little need of an interest rate cut.
President Bush outlined reforms to help struggling subprime mortgage borrowers. This is the president's first formal response to the subprime housing crisis since the problem began snowballing this past February.
Core U.S. consumer prices rose by a less-than-expected 0.1 percent in July, showing stable prices that held the year-on-year rate of nonfood, nonenergy inflation to 1.9 percent for the second month in a row, the Commerce Department said Friday.
Inflation numbers are good for those who want a rate cut. The PCE deflator shows moderating inflation. U.S. futures--as well as European bourses--are also rallying because of President Bush's proposal to help homeowners who cannot pay their mortgages.
Euro zone inflation was stable at the European Central Bank's target for the 12th straight month in August but consumer expectations of inflation jumped and economic sentiment weakened more than expected, data showed.
Japan's jobless rate hit a 9-1/2-year low in July, but consumption remained soft and core consumer prices marked a sixth straight month of declines. Industrial production also fell in the month, but that was largely due to an earthquake on July 16, and output is forecast to jump in August.
Federal Reserve Chairman Ben Bernanke is poised to make what may be his most important speech to date on Friday, when he addresses the annual monetary policy symposium at Jackson Hole, Wyo. CNBC's senior economics reporter Steve Liesman is stationed at Jackson Hole, offering the latest developments as they happen.
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.