SEATTLE-- College students in Washington state say they need Congress to give them affordable student loans at a rate they can depend on, instead of a yearly debate on rising interest rates.» Read More
More of your email replies to the subprime loan interest rate freeze: Maria L: Wow! Health care is taboo for this administration, but we'll prop up incompetent lenders and borrowers. Brett P.: Remember when Congress used to pass laws "that were equally applicable to every person"? Me neither.
The U.S. economy is continuing to show weakness in everything from personal spending and income to construction spending, according to several reports out Friday
I'm hearing from so many of you about the idea of freezing some subprime loans. Keep your emails coming in. Here's a sample of what I've gotten so far: What's next? People who lose a certain amount of money in casino's get a tax credit for the losses?
Unless you were trapped under something heavy this morning, you’ve probably heard about the Treasury Dept.’s impending deal with major lenders to freeze interest rates on certain subprime loans. This is all coming out of the “Hope Now” alliance, which was originally launched by Henry Paulson and designed to get lenders in better communication with borrowers.
Federal Reserve Chairman Ben Bernanke said on Thursday a resurgence in financial strains in recent weeks had dimmed the outlook for the U.S. economy, signaling an openness to lowering interest rates again.
Higher energy and food prices saw Japan's core consumer prices record their first annual rise in 10 months in October, but the modest 0.1 percent gain only slightly boosted expectations of a rate hike early next year.
Stocks closed slightly higher as investors waited to see whether tonight's speech by Federal Reserve Chairman Ben Bernanke would signal further cuts in interest rates.
Softer-than-expected new-home sales and a surge in jobless claims heightened fears of a steep U.S. economic slide.
The White House lowered its U.S. economic growth forecast for 2008 Thursday because of trouble in the housing and credit markets, but said the economy remained resilient and a six-year expansion would continue
The U.S. economy grew at a robust 4.9% rate in the third quarter, but a surge in jobless claims last week signaled a major slowdown in the fourth quarter.
The Bank of England will offer commercial banks emergency funds with longer repayment terms when it lends money next month, to ease potentially tight money markets at the end of the year, officials said Thursday.
The bad news that was scaring the markets has, for now, become the good news. Remember Monday. Things were dire. The major stock indexes were in a tailspin, sinking to a level 10% from October's highs, technically a correction. But that's all changed, and in part it's because the markets are now convinced the Fed recognizes what ails it.
Bear Stearns is only the latest Wall Street firm to cut jobs. In recent months, U.S. banks and financial service companies with banking operations having been slashing tens of thousands of positions.
Stocks staged one of the biggest rallies of the year as hopes for a Federal Reserve interest cut boosted financial services companies for a second day, while falling oil prices eased concern about higher energy costs.
The economy grew at a slower pace in the late fall as shoppers watched their pennies heading into the busy holiday season.
The economy may avoid a recession in the year ahead but it's almost certain that there will be months of slow growth.
Fed Vice Chairman Donald Kohn, in one speech, has changed Wall Street's view on the Fed. While most market players have expected the Fed to cut rates, the Fed itself seemed to be sending another message and that had some investors vexed.
New orders for long-lasting U.S.-made manufactured goods dropped for a third month in a row during October and companies appeared wary about making new investments, according to a Commerce Department report on Wednesday.
U.S. consumer confidence fell unexpectedly sharply in November to a two-year low on worries about rising gas prices and financial market volatility.
Goldman Sachs on Tuesday slashed its target for the expected trough in U.S. benchmark interest rates by a full percentage point, citing an increased probability of recession and the likelihood of a prolonged period of sluggish performance for the U.S. economy.