WASHINGTON— Janet Yellen has won credit for guiding the Federal Reserve's first six months of transition from the Ben Bernanke era. Bernanke's Fed had steered the economy through a deep crisis by slashing interest rates and restoring confidence in banks.» Read More
Fast-rising oil, steel and coal prices are adding to inflationary pressure in China, the country's top economic planning agency said on Friday.
If the Fed isn't going to cut rates any more, that means bad news really is ... bad news. And with continuing concerns about the financial sector and oil prices, there is plenty of bad news.
Clean energy stocks worldwide, and especially solar, have roared upwards in the past 10 weeks following the latest spiral in oil prices -- but proving a direct link with oil is elusive, analysts say.
The Federal Reserve pumped $41 billion into the U.S. financial system Thursday, one of its largest cash infusions to help companies get through a credit crunch that took a turn for the worse in August.
The mighty U.S. consumer may be starting to crack, just as the Federal Reserve signaled that it was through with interest rate cuts barring a sharper economic downturn.
The number of U.S. workers filing new claims for jobless aid fell by a more-than-expected 6,000 last week, government data on Thursday showed, while the four-week moving average of claims edged up to a six-month high.
Planned U.S. layoffs fell 12 percent in October on a reduction in the number of announced firings in the financial and housing-related sectors, an independent report showed Wednesday.
China unexpectedly raised domestic gasoline and diesel prices by a tenth on Thursday, the first increase in 17 months, as officials rushed to tame a worsening supply crisis by easing losses at state refiners.
Australian retail sales easily outpaced expectations in September, setting the seal on a very strong quarter for consumption and adding to an already compelling case for a further rise ininterest rates.
The Federal Reserve, moving to head off the threat of a recession, cut two key interest rates by a quarter-point but signaled that it may be done easing rates for now.
The U.S. economy grew at a surprisingly brisk clip in the third quarter as both consumer spending and exports showed strength despite a battered housing sector.
The statement released by the Federal Open Market Committee after its October 30 & 31 meeting on interest rate policy.
Wal-Mart Stores said Wednesday it will begin offering this week the type of holiday discounts it typically reserves for "Black Friday" -- the day after Thanksgiving that typically marks the start of the ultra-competitive holiday shopping season.
The Federal Reserve is still expected to lower benchmark borrowing costs later today despite unexpected signs of strength in the economy.
A surge in euro zone inflation in October beat all expectations, data showed, raising the odds for a rise in European Central Bank interest rates despite weakening sentiment and sending the euro up against the dollar.
The Bank of Japan left its policy rate unchanged at 0.5 percent on Wednesday, as widely expected, reflecting caution among central bankers over market uncertainty and the economic fallout from U.S. subprime woes.
Japanese brewer Kirin Holdings said on Wednesday it will raise the prices of beer for the first time in more than 17 years starting in February, citing a sharp rise in aluminum and malt prices.
Australian businesses were busy borrowing in September despite interest rates at decade highs, while a jump in approvals to build new homes provided a tentative sign of a recovery in housing construction.
Fed policy-makers began meeting as financial markets continued to bet that the central bank will cut interest rates to shore up the faltering housing and credit markets.
U.S. consumer confidence declined for the third month in a row in October to its lowest level in two years on growing concerns about weakening business conditions and the impact that could have on the job market.