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CNBC's Tyler Mathisen looks back at the week's top business and financial stories. Bernanke's comments concerned investors. There was good housing news and Apple's Tim Cook faced the Senate's music. Also, Jamie Dimon held on to his dual titles.
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Foreign investors fled from U.S. assets in August as a meltdown in the U.S. subprime mortgage market triggered a global credit crunch, Treasury Department data showed on Tuesday.
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Treasury Secretary Henry Paulson warned that the housing correction would continue to hurt the economy and financial markets and called for assistance for homeowners.
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The text to a speech given by Federal Reserve Chairman Ben Bernanke on "The Recent Financial Turmoil and its Economic and Policy Consequences" on October 15, 2007 in New York City.
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My thoughts this Tuesday morning: 1) Ben Bernanke's speech widely discussed on the Street this morning. Traders wondering why he didn't talk about energy and food prices; further evidence that core inflation is what matters to the Fed.
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Consumer prices in the United Kingdom rose 1.8 percent in September compared with a year earlier, unchanged from the previous month, the government said Tuesday.
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The yen hit its lowest levels in around two months against both the dollar and euro on Monday, as risk-seeking investors took advantage of cheap Japanese borrowing costs to fund purchases of high-return assets.
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I didn’t make a big deal about it a few weeks ago, when I heard that Countrywide was launching a public relations blitz after months and months of negative publicity and talk of massive layoffs at the massive mortgage lender.
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Verbal discipline is key for the smooth functioning of currency markets, European Central Bank President Jean-Claude Trichet tells CNBC Frankfurt correspondent Silvia Wadhwa in an exclusive interview, a veiled plea to European leaders to stand by the ECB.
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The dollar snapped a three-day decline against the euro and gained on the yen Friday, as solid September retail sales suggested U.S. consumers continue to spend despite a weak housing sector.
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U.S. consumer sentiment fell slightly in early October to its lowest in more than a year as uncertainty grew about the extent of the housing slump, a survey released Friday showed.
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Euro-zone industrial production rose much more than expected in August, the European Union's statistics office said, raising hopes of continued strong growth despite a rising euro and the global credit crunch.
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Financial market turbulence has so far failed to dent the euro zone economy and inflation dangers remain, European Central Bank policymakers said on Friday.
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The dollar steadied against the euro on Friday as investors awaited US economic data that may shed more light on whether the Federal Reserve will continue to cut interest rates.
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President Bush said in an interview with the Wall Street Journal Thursday that he believes in a "strong dollar policy" and that a trade war with China is not in the US interest.
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US home foreclosure filings decreased 8% in September from a 32-month peak in August, though they are still nearly double their year-ago levels, a report said on Thursday.
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Euro zone growth turned out better than expected in the first quarter, making the second-quarter slowdown more pronounced, revised data showed on Thursday.
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The Bank of Japan left its policy rate target unchanged at 0.50% on Thursday as expected, as it waits for more evidence that U.S. subprime woes will not threaten its scenario for modest growth in Japan.
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South Korea's central bank held interest rates steady on Thursday, as expected, in the face of risk from turbulent global financial markets and despite data bolstering the case for further monetary tightening.
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Australia's jobless rate fell to a fresh 33-year low of 4.2% in September, keeping alive speculation that interest rates would need to be raised again to cool the economy and restrain inflation.
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The dollar fell Wednesday on speculation that the Federal Reserve may cut interest rates again this year, to prevent a weak housing sector from damaging the broader economy.