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Texas Attorney General Greg Abbott, who has called for a halt on foreclosures, told CNBC Tuesday, that sorting through the underlying problems caused by some wrongful foreclosures could take months to unwind and require lots of legal work.
Atlanta Fed president Dennis Lockhart says he is leaning in favor of further quantitative easing—or increasing the nation's money supply—to help boost the struggling economy.
Does the Fed head look at market-driven prices? Surely he does. But it’s equally certain that this will not deter him from pump-priming QE2. Underneath it all, Bernanke believes in the false Phillips Curve tradeoff between inflation and unemployment.
The rise in gun sales and food stamp demand are indicators of a fearful public that’s struggling financially, Nicholas Colas, chief market strategist, ConvergEx Group, told CNBC Monday.
Overnight, the US dollar has had a rally on what I'd call the "We-can-print-money-too!" theory of central bank easing.
The Federal Reserve needs the help of fiscal and regulatory authorities if it is to help the US economy grow at a faster pace, Richard Fisher, President of the Federal Reserve Bank of Dallas, told CNBC Monday.
The Dow Jones industrial average and the Standard & Poor's 500 index are both up more than 5 percent this year, and barring something dramatic will finish in the black.
Fed Chairman Ben Bernanke took another step Friday toward further monetary stimulus, but in doing so left one key issue unanswered: What if all this intervention causes more harm than good?
The United States has exhibited emerging-market growth this year in advertising, Sir Martin Sorrell, CEO of WPP Group, the world’s largest advertising agency told CNBC Friday.
Rising commodity prices and lingering consumer uncertainties have been eating away at food companies' margins. Until consumers bounce back, food makers will continue to feel the drag on retail pricing, ConAgra Foods Chief Executive Gary Rodkin tells CNBC on Thursday.
As if the problems in foreclosures weren't enough, another potential problem for the nation's big banks is raising its head today and is the key reason that shares of banks such as Bank of America are down sharply and credit default swap for some banks are widening.
The only way to combat the unemployment rate is to see investment by companies in their capacity. Companies are only going to hire more people if they have a demand for there goods or services, said Scott Sperling, co-president of THL Partners.
A halt to foreclosures could be a boost to home prices in the near term, Carl Riccadonna, US senior economist at Deutsche Bank, told CNBC Thursday.
The US mortgage foreclosure crisis deepened as it emerged that Wells Fargo may have used practices that prompted rivals to halt home repossessions, and JPMorgan Chase said banks might be fined over the issue.
China may well become the world’s largest economy, but because it has exhibited fear of the Internet in its policies, it “can’t lead a knowledge-based revolution,” former Secretary of State Condoleezza Rice told CNBC Wednesday.
As the economy improves, railroad company CSX sees volume growing in most markets except housing, Michael Ward, the company's chairman & CEO told CNBC ahead of a post-earnings conference call on Wednesday.
The US government should stimulate investment in order to ensure solid and sustainable economic growth, not cut taxes, Nobel Prize-winning economist Joseph Stiglitz told CNBC Wednesday.
Most Federal Reserve members appear ready to launch a new round of monetary easing soon because of worries that the US economy is not recovering fast enough, according to minutes of the cental bank's September meeting.
Read the full text of the minutes from the Federal Open Market Committee's Sept. 21 meeting here.
Concerns linger over large state debt as a new report released today, by the Kellogg School of Management, estimates an additional $574 billion is unfunded liabilities from pension plans at the city and county levels.