CNBC's Rick Santelli and David Stockman, OMB director under President Ronald Reagan, discuss the budget deal. Stockman says the deal is the final surrender of House Republican leadership.» Read More
Stocks advanced Friday, boosted by benign inflation data and an upgrade on Lehman Brothers.
Stocks rose at the opening bell as the market weighed benign inflation data with a weak outlook from J.C. Penney.
Euro zone price pressures are "alarmingly high," threatening medium-term price stability, and first quarter growth in the bloc could exceed expectations, European Central Bank officials said on Friday.
There are signs of improvement in U.S. housing markets but the idea of freezing mortgage rates for a period of time would be a mistake, the director of the Office of Federal Housing Enterprise Oversight said on Friday.
The woes of U.S. banks could mount as the economy slows down and with greater access to their confidential information, the Federal Reserve can make sound decisions, Boston Fed President Eric Rosengren said on Friday.
Consumer spending hit a 17-month low in February, hit by the credit crisis, job cuts and soaring energy costs. But a key inflation gauge remained tame.
South Korea's current account deficit narrowed in February from the previous month as the goods account swung to surplus, central bank data showed on Friday.
The U.S. economy seems to be slipping into recession and the Federal Reserve must cushion the pain and make it as brief as possible, two Fed policymakers said.
The central banks of Britain and Switzerland added extra funds to ease pressure on high interbank lending rates on Thursday, while the European Central Bank said it was ready to step in with extra cash.
The economy nearly sputtered out in the final quarter of last year and is probably faring even worse now amid the continuing housing, credit and financial crises.
French President Nicolas Sarkozy and British Prime Minister Gordon Brown called on Thursday for banks to declare the full extent of the damage to their operations caused by the credit crunch.
I mean, about inflation for you and me and Bobby McGee. Not inflation as bankers see it, as economists see it, as central bankers see it. Not about CPIs and PPIs and HICPs. Not about price-adjusted, calendar-adjusted and average-workday-weighted statistics, which economists so fondly call "real" inflation.
French President Nicolas Sarkozy will ask British Prime Minister Gordon Brown for help in getting Washington to prop up the ailing dollar, but Britain has usually shunned managing exchange rates.
A silver lining in housing? The New Home Sales was a disappointment this morning. Even though sales were a bit higher than expected, the inventory of unsold homes remained unchanged with Jan at 9.8 months supply, a bit disappointing.
If you’re in the market for a student loan, there's more federal funding out there than you may think. You may just have to look a little harder.
Chicago Federal Reserve Bank President Charles Evans said on Wednesday that U.S. interest rates are now "accommodative" and should help to support stronger growth in the second half of 2008.
An awful lot of people were on the phone to their mortgage brokers last week--according to the Mortgage Bankers Association’s Weekly Applications Survey. Application volume increased 48 percent from the week before, but before you go calling an end to the housing downturn, there’s something you should know:
Orders for big-ticket manufactured goods fell for a second straight month in February, a worse-than-expected performance that provided more evidence of a slumping economy.
Top central bankers warned on Wednesday there was no end in sight yet to the global credit crunch as German banking giant Deutsche said the crisis threatened its profit target for this year.
Tighter lending conditions have made the Bank of England more inclined to cut interest rates as the global credit crunch enters a new and difficult phase, Mervyn King, the central bank's governor, said on Wednesday.