SAN FRANCISCO/ WASHINGTON, March 27- Federal Reserve Chair Janet Yellen signaled that the U.S. central bank will likely start raising borrowing costs later this year, even before inflation and wages have returned to health, but emphasized the return to normal interest rates will be gradual. The Fed has held short-term borrowing costs near zero since December...» Read More
Sure, lower prices get buyers off the fence, as we’re seeing now in California, where dirt-cheap prices are bulking up home sales. That’s just all about getting a great deal.
After torturing myself by actually reading the entire G20 statement, my conclusion is that this group could now stage an "Up With People" show. The statement had enthusiastic prescriptions for generally what needed to be done, but none of the specifics.
The U.S. government should provide funding to struggling Detroit automaker General Motors, Wilbur Ross, chairman & CEO of WL Ross & Co., told CNBC on Friday.
Stocks enjoyed a late-day rally Thursday after the S&P 500 broke through its Oct. 10 low — but the euphoria abruptly ended amid talk of a $14 trillion consumer debt pile, and layoff talk from Sun Microsystems and Dow Chemical. CNBC's expert guests offered their views on what's coming next.
The full remarks of Federal Reserve Chairman Ben Bernanke on central bank policy coordination the Fifth European Central Bank Central Banking Conference.
This weekend's global economic summit isn't generating a lot of enthusiasm on Wall Street. But some are hoping that the gathering might yield some tangible results.
I’ve just seen the latest numbers on the recently launched government Hope for Homeowners program, and I’d call them laughable if the whole thing weren’t so blatantly sad. Hope for Homeowners was launched Oct. 1 as part of the Housing and Economic Recovery Act signed into law on July 30,2008.
New jobless claims hit a 7-year high Thursday; and even strong companies look weaker in the future. But some strategists see hopeful market signs amid the chaos. CNBC canvassed economic and financial experts for their insights.
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.