*Investors cautious ahead of Greece's referendum on Sunday. LONDON, July 3- The dollar fell against a basket of currencies on Friday, hurt by softer than expected U.S. employment data and with most investors staying on the sidelines before Greece's referendum on bailout conditions at the weekend. Caution also reigned ahead of Greece's Sunday referendum on an...» Read More
The following is the full transcript of the speech made by Federal Reserve Chairman Ben Bernanke on Sept. 20, 2007, before the U.S. House of Representatives' Committee on Financial Services, on the subject of subprime mortgage lending and mitigating foreclosures.
Chief executives such as Ara Hovnanian were the among the loudest voices calling for the Federal Reserve to cut interest rates. Now, after the Fed's surprisingly sharp reduction in rates on Tuesday, CNBC asked several CEOs if they're happy.
The Fed’s rate cuts will do little if anything to help the mortgage and housing industries in the short-term--and the central bank is just at the beginning of a long, hard fight to head off a recession, experts say.
U.S. consumer prices unexpectedly dipped 0.1 percent last month and new home construction hit a 12-year low, data Wednesday showed, underlining concerns about the country's economic outlook.
The Federal Reserve acted Tuesday, cutting the fed funds rate and the discount rate by a half-percentage point each. Oil jumped to a new high as the news was announced and immediately afterwards, stocks rallied in the strongest reaction to a Fed move since 2001. With the Fed funds rate now at 4.75 percent and the discount rate at 5.25 percent, where will the market go? CNBC's experts weighed in.
The Fed cut two key interest rates by half a point, seeking to prevent a steep housing slump and turbulent financial markets from triggering a recession.
The statement released by the FOMC after lowering rates.
Federal Reserve policymakers are meeting today in one of the most closely watched central bank conferences in years. The Fed is slated to release its rate-cut decision at 2:15pm ET. CNBC asked the experts what they expect the Fed to do -- and what impact it will have on the economy and markets.
The Labor Department said it was the largest fall in producer prices since a 1.5 percent dip in October 2006.
Fed policymakers meet Tuesday in one of the most closely watched central bank meetings in years. CNBC asked the experts what they expect the Fed to do and what impact it will have on the economy and markets.
Alan Greenspan keeps making news, even after leaving the Federal Reserve chairman’s post. Last week, he released his memoirs, taking the Bush Administration to task; and he told CNBC the housing bubble was "unavoidable." Here is a sampling of our broadcast coverage, including an exclusive Greenspan interview with senior economics reporter Steve Liesman.
Manufacturing in New York State slowed more than expected in September, the New York Federal Reserve said Monday, in a report that gave a mixed picture of the region's factory sector.
Former Federal Reserve Chairman Alan Greenspan also says the chances of a recession have risen from January, when he said there was about a 33% chance.
U.S. Treasury Secretary Henry Paulson said on Monday he expected market turbulence to continue for a while, but said the current turmoil was occurring against the backdrop of global financial strength.
Sales at U.S. retailers rose a smaller-than-expected 0.3% in August and recorded the biggest decline in almost a year when car sales are excluded. Meanwhile, consumer sentiment was steady in early September.
This week, NBC Nightly News will air a series of reports on issues important to women, including special business reports on Tuesday and Thursday.
Former Federal Reserve Chairman Alan Greenspan said he was late to see the storm gathering around U.S. mortgage lending practices and commended his successor Ben Bernanke's handling of the crisis, saying he would likely be responding in a similar fashion.
Americans are relatively unconcerned about the subprime mortgage troubles, and they say President Bush is doing a better job, according to the latest NBC News/Wall Street Journal poll.
Federal Reserve Chairman Ben Bernanke is scheduled to testify before the House Financial Services Committee on Sept. 20, a spokesman for the panel said.
The number of U.S. workers signing up for jobless benefits edged up a smaller-than-expected 4,000 in a holiday-shortened week, a government report showed on Thursday.