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I could say, “What took you so long,” but that would be rude. Today, just three days before the nation’s largest mortgage lender announces its quarterly earnings, Countrywide Financial Corp. sent out a press release announcing a “comprehensive home preservation program to reach out to borrowers at risk of default.” Let’s boil it down:
The U.S. economy still faces pressure from a drawn-out housing-market slowdown but will "probably not" slip into recession as a result, former Federal Reserve Chairman Alan Greenspan said Tuesday.
Chicago Federal Reserve Bank President Charles Evans said on Monday that outside of housing the U.S. economy is "moving forward," and that the Fed could not afford to go soft on inflation.
You may or may not have heard, Rep. Barney Frank (D-MA), the chairman of the House Financial Services Committee, announced his legislation for mortgage lending reform today. This is expected to be the bill that will or will not change the way the mortgage business does business.
Marc Faber, editor and publisher of The Gloom, Boom & Doom Report, thinks the worst is yet to come for the global economy. Appearing on CNBC's "Squawk Box," the economist and managing director of Marc Faber Ltd., explained his bearish outlook -- and offered advice for how to play a glum market.
The liquidity squeeze which has affected the global financial markets in the past three months is not likely to cause a correction in the UK housing market, Peter Spencer, chief economic advisor for Ernst & Young's Item Club, told CNBC's "Squawk Box Europe" Monday.
The dollar rebounded from a fresh low on Monday after as traders pared back bets against the currency after the weekend's Group of Seven meeting yielded no call to action on the falling greenback.
World Bank President Robert Zoellick on Sunday won support from bank member countries for his strategy to lead the poverty-fighting institution for the next five years, including plans to give the private sector a bigger role in poor countries.
An unusually high degree of risk taking across asset classes made recent financial market turmoil all but inevitable, former Federal Reserve Chairman Alan Greenspan said Sunday.
The dollar hit a fresh record low against the euro and a basket of currencies on Friday, pressured by the growing view that a slowdown in the U.S. economy will force another cut in interest rates this month.
Hedge fund legend Julian Robertson said he expects the U.S. economy is heading for a "doozy of a recession."
Federal Reserve policymakers weigh a broad range of economic scenarios to determine the right moves on interest rates during times of uncertainty, Fed Chairman Ben Bernanke said Friday.
Federal Reserve policy maker Thomas Hoenig said on Wednesday he was open minded about the future direction of U.S. interest rates but was on alert for fallout from financial market woes.
The dollar dropped to a record low against a basket of currencies and the euro Thursday, after Bank of America's third-quarter earnings results missed estimates, renewing concerns of a U.S. economic slowdown.
Here's what we have today: 1) Fed Beige Book a little more downbeat, talking about slower growth and softer consumer, but noting that global growth remains strong.
The dollar fell broadly Wednesday after a report showed housing starts dropped to their lowest level in 14 years in September, adding to concerns that the housing market may drag on the US economy.
Groundbreaking for new homes and permits for future building both hit a 14-year low last month, reviving worry about a deepening housing slump and fueling hopes for more interest-rate cuts.
The dollar rose against the euro and high-yielding currencies such as the New Zealand dollar Tuesday, as investors grew cautious of risky trades amid a sell-off in global equities and a surge in oil prices.
Federal Reserve Chairman Ben Bernanke spooked investors by saying a full recovery in financial markets may not happen right away.