The Philly Fed president is the latest central banker to suggest that weakness in the labor market is only temporary.» Read More
Two Federal Reserve policy-makers warned on Wednesday that interest rate increases might be needed before too long to curb inflation, even as the United States struggles with a weak economy.
The Justice Department said the settlement would give consumers more choice and reduce commission rates by allowing greater access to the multiple listing services
Sales of new homes rose in April for the first time in six months, although the unexpected increase still left activity near the lowest level in 17 years
The majority of small business owners think the U.S. economy is getting worse, though sentiment showed some improvement in May from its recent lows, according to a survey released on Tuesday.
Former Federal Reserve chairman Alan Greenspan was quoted on Tuesday as saying the United States was still more likely than not to have a recession despite relative stabilization in the economy in recent weeks.
"This is going to be another difficult spring," said Mark Zandi of Moody's Economy.com. "I think we are at the beginning of the end of the housing downturn, but it is going to be a long and painful end."
Blame for the sub-prime crisis lies at the feet of banks who took too many risks in mortgage lending, Warren Buffett told a Madrid newspaper. Earlier, the billionaire investor said he expected a "long, deep" recession.
Officials at JP Morgan Chase have launched a major round of layoffs in the firm's vaunted investment banking department, axing dozens of executives, CNBC has learned.
U.S. Treasury Secretary Henry Paulson told CNBC Thursday that rising oil prices are not driven by market speculation but instead reflect tight supplies and growing global demand.
Wall Street appears resigned to the idea that the Federal Reserve is done cutting interest rates, but a patchy economy could force policy-makers to keep their scissors handy.
The job market may be getting tough, but these companies are hiring more entry-level workers than a year ago.
High food prices will continue for at least a decade even if they drop from the levels that sparked street protests or riots in Africa, Asia and the Caribbean in recent months, government-backed international agencies say.
The US mortgage market will recover slowly from a wave of bad loans that threw financial markets into crisis and the lending system will need repairs, Federal Reserve Governor Randall Kroszner said Thursday.
The number of U.S. workers filing initial claims for jobless benefits unexpectedly fell by 9,000 last week to its lowest level in a month, the government said Thursday, but remained at elevated levels to underscore a sluggish jobs market.
Goldman Sachs Senior Investment Strategist Abby Joseph Cohen told CNBC Wednesday that she sees U.S. interest rates climbing, though not necessarily in the short term.
The following is the text of the minutes from the Federal Open Market Committee's meeting of April 29 to 30, issued on Wednesday.
The Fed cut its economic growth forecast and warned of higher inflation and unemployment but signaled more rate cuts are unlikely. "If you had any doubt that the Fed is signaling a pause, that doubt is gone," said one economist.
US interest rates seem to be at the right level to help the sputtering economy without sparking inflation, but policy-makers need to be ready to adjust quickly in the face of a highly uncertain outlook, Federal Reserve Vice Chairman Donald Kohn said Tuesday.
The Oracle of Omaha is looking for European businesses with pre-tax profits of at least $75 million, but he says the bigger the better. The tour began in Frankfurt, continues in Lausanne, Switzerland Tuesday and rolls on to Madrid and Milan later in the week.
The U.S. economy is weak but does not appear to be in a recession, according to a key forecasting gauge, the Conference Board reported.