The U.S. economy grew faster than initially estimated in the third quarter, while jobless claims fell unexpectedly.» Read More
"We’re getting a snapback that, when judged with those from other deep recessions, is pitiful,” quips one economist who compares the economy to a patient recovering from a near fatal auto accident.
The U.S. economy grew at a much slower pace than initially thought in the third quarter, restrained by weak business investment and a slightly more aggressive liquidation of inventories, according to data on Tuesday.
The economy will continue to grow over the next few years, though unemployment will remain high and inflation tame, so there's "no urgent need" for the Federal Reverse to change its low-interest rate policy, Chicago Fed President Charles Evans told CNBC
One of the biggest challenges to ending the foreclosure crisis is this: A surprising number of homeowners who get their monthly payments reduced fall behind again within a year.
Nobel Prize-winning economist Joseph Stiglitz warned there's a "significant" chance the U.S. economy will contract in the second half of next year, and urged the government to prepare a second stimulus package to spur job creation.
Stocks should trade quietly as investors sit out until the start of the new year. Economic reports on home sales, jobs and manufactured goods in the holiday-shortened week are coming—and everyone will be watching retail sales.
“There's all this frustration about the bailout, the money, the Fed being asleep at the switch too long, so it's coming out as Bernanke bashing,” says one Washington observer.
Most US states saw unemployment decline in November, according to a government report, the latest sign that the jobs picture is beginning to improve as the economy recovers.
The path of the dollar and fallout from the quadruple expiration of futures and options could be big drivers for stocks on Friday.
Bernanke is expected to renominated into office on Thursday, but he has his critics; some who have blasted Time's magazine's choice of the Fed Chief as "Person of the Year."
The following is an official statement from the Federal Reserve following its two-day meeting from Dec. 15-16:
Fed Chairman Ben Bernanke may no longer be worried about losing his job, but he’s still concerned about the job prospects of millions of other Americans.
Federal regulators have moved to require companies to reveal more information about how they pay their top executives amid a public outcry over compensation.
Although the economy is growing by as much as 4.5 percent in the current quarter, it’s expected to slow in 2010, well-known market analyst Abby Joseph Cohen told CNBC.
The consumer price index and the Fed's afternoon statement Wednesday will take on even more importance to markets, after producer prices hinted at a whiff of inflation Tuesday.
The Federal Reserve is expected to leave interest rates at a record low this week. The big question is whether Chairman Ben Bernanke and his colleagues will hint about when they will reverse course and start boosting rates.
More than one-quarter of American households are unbanked or "underbanked," according to a survey conducted by the U.S. Census Bureau.
Stocks should trend higher in the coming week and are in easy striking distance of a new high for the year.
Friday's economic reports will put the spotlight on consumer attitudes and spending, as the critical, final two weeks of the holiday shopping season approach.
While the economy continues to show signs of progress, the big question is whether those gains are sustainable, Pimco CEO Mohamed El-Erian told CNBC. And until small businesses can start getting loans, the recovery will be difficult to gauge, he added.