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There is still a long way to go for the US economy before it gets better, and a long-term strategy to deal with the increasing budget deficit is needed for the Federal Reserve's quantitative easing policies to be successful, economists told CNBC Tuesday.
While the Obama administration’s financial overhaul plan is directionally correct, it requires refinement, said Gene Ludwig, CEO of Promontory Financial, a firm that tries to fix troubled banks.
The US is headed toward hyperinflation, and within five to 10 years it could have rates of 10 to 20 percent, said Marc Faber, editor and publisher of the Gloom, Boom & Doom Report.
Federal Reserve Chairman Ben Bernanke on Wednesday urged financial institutions that specialize in community development and banking to the poor to take steps to ensure they emerge from the financial crisis stronger.
Below is the full transcript from the interview with President Obama on June 16th, 2009.
Small business has led the economy out of all past recessions and will do so again, Steve Odland, chairman and CEO of Office Depot told CNBC.
Industrial production tumbled more than expected last month as the recession crimped demand for a wide range of manufactured goods including cars, machinery and household appliances.
St. Louis Fed President James Bullard told CNBC Monday that he is cautiously optimistic that there will be economic growth in the US during the second half of the year.
Inflation hawks are circling the market, but unlike in past recoveries, it's unlikely to rear its ugly head anytime soon. In fact, the threat may be years away, say economists.
The federal budget deficit soared to a record for May of $189.7 billion, pushing the tide of red ink close to $1 trillion with four months left in the budget year.
The economy's slide eased in the late spring and hopes for business activity improved, suggesting the worst of the recession has passed, a Fed report said.
An index measuring sentiment among small business owners gained for the second consecutive month, moving just below a level that would indicate positive growth in the economy.
President Barack Obama promised Monday to deliver more than 600,000 jobs through his $787 billion stimulus plan this summer, with federal agencies pumping billions into public works projects, schools and summer youth programs.
Despite the fact that California's tax revenues are down 27% from a year ago, the Golden State's economy is apparently growing.
Despite recent signs that the economy is improving, slow growth will continue to be the "new normal" for investors, Pimco co-CEO Bill Gross told CNBC.
New U.S. jobless claims fell for a third straight week last week; productivity rose 1.6 percent. What does this herald for the stock markets? Art Cashin, UBS Financial Services director of floor operations, offered his insights to CNBC.
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For millions of families, the recession is not a layoff, nor a drastic reduction in income, but a pay cut that has forced them to thrash through daily calculations. The New York Times reports.
The Obama administration’s economic stimulus plan is working, Rep. Barnkey Frank, D-Mass. told CNBC.
Seven of 10 fund managers are betting that China and other emerging markets will lead the global economic recovery, according to a Merrill Lynch fund manager survey, and that could mean better investing opportunities abroad.