NEW YORK, Feb 27- Raising interest rates too late is safer than acting too early, an influential Federal Reserve official said on Friday, endorsing a high-profile research paper that argues that the U.S. economy, given time, can rebound to normal growth. The paper by four top U.S. economists, presented on Friday to a roomful of powerful central bankers in New York,...» Read More
Treasury Secretary Henry Paulson on Wednesday said he'd direct the $700 billion bailout fund toward uses like consumer debt — and away from dicey mortgage assets. Solid news for some; more uncertainty for others. CNBC's expert guests weighed on the markets and the global economy.
So here I am on Capitol Hill covering a hearing at the House Financial Services Committee (starring Chairman Barney Frank D-MA), entitled Private Sector Cooperation with Mortgage Modifications—Ensuring That Investors, Servicers, and Lenders Provide Real Help for Troubled Homeowners.
The U.S. dollar rallied to a two-week high against a basket of currencies Tuesday as worries about a deteriorating global economy prompted investors to shun riskier assets and flock to the safety of the greenback.
I’m all about the help, but I have some issues (I always have some issues). Citi is targeting borrowers who are not yet delinquent but who could become delinquent due to any number of issues, like loan resets, loss of jobs or home price depreciation.
The group of euro-member countries fell into "a serious recession in September" and economic contraction will continue through next year, pushing interest rates sharply lower, Bank of America said in a research note Tuesday.
China's inflation rate fell further in October, easing pressure on Beijing to contain price rises as it launches a massive stimulus package to boost slowing growth.
Japan's current account surplus in September plunged 48.8 percent from a year earlier as import growth far outpaced export growth in the face of a global slowdown, the Finance Ministry said Tuesday.
Nothing like starting off a new week with a $29 billion net loss for the nation’s largest mortgage investor. Fannie Mae is currently under government guard, with the conservatorship instituted in September, but it still apparently can’t keep its balance sheet from joining the ranks of other massive mortgage meltdowns that seem to be par for today’s course.
The U.S. dollar fell against the euro Monday as news of a large economic stimulus package from China made traders more willing to take on risk.
The economy will worsen in the coming months and cause the market to fall another 20 to 25 percent in the United States and abroad, said Nouriel Roubini, a New York University business professor, on CNBC’s “Squawk Box” on Monday.
The Federal Reserve Board and the U.S. Treasury on Monday announced the restructuring of the government's financial support to the American International Group (AIG) in order to keep the company strong and facilitate its ability to complete its restructuring process successfully.
China's wholesale price inflation tumbled in October, clearing the way for the central bank to cut rates at any time to support a massive stimulus package aimed at shoring up the world's fourth-largest economy.
Japan's core machinery orders posted their biggest quarterly fall in a decade in July-September and manufacturers expect only a small rebound in the last quarter of the year, boding ill for capital investment as the economy teeters on the brink of recession.
Australia's central bank lowered its forecasts for economic growth for the next two years, saying it would be reviewing interest rates in the months ahead with the aim of avoiding an even sharper slowdown in domestic demand.
China launched a huge stimulus plan worth nearly $600 billion, kicking off what could be a round of big spending or interest rate cuts by leading economies to stave off a recession in many countries.
President-elect Obama is meeting with economic advisors today, and you have to believe that the housing crisis will be pretty high on the agenda.
President-Elect Barrack Obama should attend the upcoming summit of the G20 developing and industrialized countries in Brazil to show that the US has a truly international leader, Mohamed El-Erian, Co-CEO of Pimco, told CNBC Friday.
The nonfarm payrolls data may be even worse than the consensus estimate, as the U.S. economy is taking further blows from the financial crisis, Mohamed El-Erian, Co-CEO of Pimco, told CNBC Friday.
South Korea's central bank cut its benchmark interest rate on Friday by a quarter point, as expected, its third cut in a month to try to calm markets and boost the economy in the face of the global financial crisis.
Stocks sold off on Thursday in their worst two-day slide since October 1987 with disappointing corporate outlooks and bleak sales from major retailers fueling invsetor fears.