SALT LAKE CITY— Utah's unemployment rate increased slightly last month, the first time since last July the rate has climbed instead of falling. The Department of Workforce Services announced Friday that the state's jobless rate for March was 4.1 percent, up from 3.9 percent the month before.» Read More
The Federal Reserve will stop cutting interest rates once it is assured that the economic contraction is limited to the financial sector, PIMCO CEO Mohamed El-Arian told CNBC.
The Federal Reserve is mulling further steps to address liquidity problems in financial markets should measures taken to date fail to gain traction, a Fed official confirmed Wednesday.
Former Federal Chairman Alan Greenspan told CNBC he had little to do with the housing bubble or credit crisis despite criticism the Fed kept interest rates too low under his watch.
Former Federal Reserve Chairman Alan Greenspan has defended himself from charges that easy U.S. monetary policy created the current credit crisis by inflating a housing bubble, and instead blamed professional investors.
Worries about a deep recession--not a shallow one--drove Fed policymakers to slash interest rates again last month, according to minutes of their meeting.
Stocks closed lower amid more bad news in the financial sector and a report showing the Federal Reserve is more worried about a recession than it has previously indicated.
The following is the text of the minutes from the Federal Open Market Committee's meeting of March 18, issued on Tuesday:
JPMorgan Chase completed the first stage of its planned acquisition of Bear Stearns Tuesday by gaining a 39.5 percent stake in its beleaguered rival.
Stocks struggled back to level ground after investors shrugged off a slew of bad news from technology companies, real estate and banks.
Stocks held lower on a slew of bad news, as troubles in technology, more signs of weakness in the banking system and a reminder that the housing slump is far from thwarted a week-long mostly positive run on Wall Street.
Stocks opened broadly lower as a slew of warnings that company earnings would slip in the first quarter, especially in technology, combined with more fear in the financial sector to dampen the recent positive run on Wall Street.
A gauge of small business optimism in the United States sunk in March to a 22-year low, as small business owners clamped down on plans to create new jobs and expand business operations, a survey released Tuesday showed.
U.S. stock index futures were lower on Tuesday after Alcoa opened the earnings season with a fall in profit and AMD said it would slash 10 percent of its workforce.
Bear Stearns front-office employees, including bankers and traders, are expected to find out their employment status on or near April 15, CNBC has learned.
Bear Stearns employees are flooding Wall Street with their resumes as the firm is acquired by rival JPMorgan Chase, but the job market looks bad, investment bankers and recruiters said.
Recessions are part of capitalism. They happen every so often. We’ve had two in the last super-prosperous 25 years. And it looks like we’re entering a third one after Friday’s jobs-loss report.
Martin Feldstein, who heads the group that is considered the arbiter of U.S. recessions, told CNBC that he believes the U.S. has been sliding into a recession.
There is more than a 50 percent chance the United States could go into recession, former Federal Reserve chairman Alan Greenspan told Spain's El Pais newspaper in an interview published on Sunday.
For the week ending Friday, April 4, 2008 the US Markets all ended the week up over 3% or more holding on to the gains from Tueday's big rally. This is the third consecutive week of gains for the NASDAQ, something it has not had since October of last year.
Is your job safe? Jonas Prising, Manpower’s executive vice president for North America, offered CNBC some tips to stay ahead of recession fears.