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Sales of existing homes fell to the lowest level in nearly a decade in January while the median price for a home dropped for the fifth straight month.
The distressed U.S. housing market should get a lift this spring as bargain prices lure prospective buyers, but tighter lending will limit any rebound.
U.S. economic growth has stalled and recovery may take longer than usual, former U.S. Federal Reserve chairman Alan Greenspan said on Monday.
Dallas Federal Reserve President Richard Fisher said on Friday that it will take some time for interest-rate cuts the Federal Reserve has made since last September to kick in and boost the economy.
Contraction in U.S. Mid-Atlantic factory production accelerated in February as manufacturers pulled back in anticipation of an economic downturn, according to the Philadelphia Federal Reserve.
Lately, many people are hearing an echo — faintly perhaps but distinctly audible — of the stagflation of the 1970s.
US inflation accelerated in January in a worrying sign for the Federal Reserve's campaign to bolster the flagging economy.
The Federal Reserve lowered its projection for economic growth this year, citing damage from the housing slump and credit crunch.
The U.S. economy will probably avoid a recession but inflation is also a risk and the Federal Reserve must not ignore this threat as it battles weak growth, one of the Fed's top policy-makers said.
The text of the minutes from the Federal Open Market Committee's meeting on January 29-30, released on February 20, 2008.
A series of bleak economic reports on Friday showed the mood of American consumers deteriorating in February to a point that has always signaled recession, while factory activity in New York state suffered its biggest drop on record. .
Former U.S. Federal Reserve Chairman Alan Greenspan on Thursday said the U.S. economy is "clearly on the edge" of a recession.
The nation's industrial output posted a modest increase in January as strength at utilities offset weakness in manufacturing and mining.
On Tuesday, we had the Warren Buffett rally. On Valentine's Day, it was the Ben Bernanke selloff.
Fed Chairman Bernanke told Congress the country's economic outlook has deteriorated and signaled that the central bank is ready to keep lowering rates.
The number of U.S. workers filing for jobless claims fell by 9,000 last week, though a more reliable gauge of labor trends hit a two-year high.
The full text of Federal Reserve Chairman Ben Bernanke's prepared testimony on the state of the U.S. economy and financial markets delivered before the Senate Banking Committee.
Fed Chairman Ben Bernanke has yet to win the hearts and minds of many on Wall Street. But a stand-out performance during his appearance before Congress on Valentine’s Day may bring him considerably more admirers.
Federal Reserve Chairman Ben Bernanke told lawmakers Tuesday he expects the downtrodden U.S. housing sector to improve by the end of the year.
The U.S. appears likely to avoid an economic downturn but the chances of a recession have risen, St. Louis Federal Reserve Bank President William Poole said Monday.