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Despite the recent financial crisis that brought the U.S. economy to its knees, Americans should trust the private sector, not the government, if they want a lasting jobs recovery, Michael Steele, Republican National Committee, told CNBC Tuesday.
Federal Reserve policymakers open a two-day meeting Tuesday amid signs of caution for the recovery: Europe's debt crisis, an edgy Wall Street, cautious consumers, a fragile housing market and high unemployment.
Slow consumer spending, along with other forces, will drag the economy down next year. Here's why:
For the first time in four years, Michigan is no longer number one in state unemployment, according to government data released Friday. Nevada now has the dubious distinction.
When economic indicators are mixed, traders and investors are faced with deciding which numbers are important, which indicators are leading and which to ignore. That's the situation they're trying to navigate right now.
The number of people filing new claims for jobless benefits jumped last week after three straight declines, another sign that hiring remains weak, while consumer prices fell.
I'm in Singapore on an Asian research trip and I continue to be impressed with the trajectory of this region in terms of its growing influence on global economics.
The recovery will continue to be steady, but “sluggish and choppy” with a 1 ½ percent growth rate, and unemployment will remain high, at between 9 and 10 percent, for the next 18 months, Jan Hatzius, chief US economist of Goldman Sachs, told CNBC Tuesday.
Volatile markets that have soared off the financial crisis lows are now adjusting to a world of slower growth and multiple obstacles ahead, Pimco's Mohamed El-Erian told CNBC.
The Federal Reserve isn’t saying when it might increase rates, but a new Fed research paper suggests that it won’t be earlier than 2012. The NYT reports.
The United States government should not stand behind banks that mix up their trading activities with their banking activities, former Fed Chairman Paul Volcker told CNBC Monday.
The Long Beach and Los Angeles ports released preliminary figures for May today.
We may be psyching ourselves right out of a robust recovery, says CNBC's Dennis Kneale.
Retail sales plunged in May by the largest amount in eight months as consumers slashed spending on everything from cars to clothing.
The United States is a decade away from being Greece, if it fails to get on the path of fiscal responsibility, former US Comptroller of the Currency David Walker told CNBC Thursday.
The company and the Consumer Product Safety Commission say one front-loading model poses a fire and elctric-shock hazard, but the problem has already been corrected in new machines.
One of the political mysteries of the last year is why the White House and Congress have not been even more aggressive about trying to put people back to work. The NYT explains.
What we should figure is never to believe government figures when they first come out. Consumer credit last month rose $1.0 billion. March's increase was originally reported to be an increase of $2.0 billion. That was revised to a decline of -$5.4 billion.
Media "hype" surrounding the BP oil spill is exacerbating the situation for Florida's tourist industry, said David Kong, president and CEO of Best Western, the world’s largest hotel chain.
Government job data doesn't show a lot of fulltime job growth but it is showing a steady trend of temporary hiring—and has since that number turned positive in October.