Janet Yellen is offering a back-to-the-'50s approach to interest rates, says Larry Kudlow. He thinks she's right, though for many wrong reasons.» Read More
The Federal Reserve announced Friday that it will launch a much-awaited program in June to bolster commercial real-estate lending. And, to help make the program more attractive to investors, the Fed will provide longer, five-year loans
Credit is not just a tool, it’s a product. And being a smart shopper of credit can be just as important as how you use it once you have it.
Global stocks were higher Friday, the first day of May, as investors were encouraged by the returns in April's strong market performance and batted off news of Chrysler's bankruptcy announcement and deepening concerns about the swine flu outbreak.
South Korean exports in April fell less than expected and export earnings per day rose for the third month in a row, the latest signs that the global economic slump that drove Korea to the edge of recession may be easing.
Although the Senate vote hasn't actually taken place (expected mid-afternoon) bankruptcy "cram down" is effectively dead on the Hill for the time being.
You've heard all the gloom and doom. Now here's some good news: the economic recovery could happen much sooner—and be much stronger—than anyone thought possible.
Sen. Richard Durbin (D-Ill.) has managed to get a vote scheduled for his controversial plan to help homeowners avoid foreclosure, but the bill's chances of approval are slim.
Global stocks rose again Thursday as investors took heart from signs of improvement in the U.S. economy after the Federal Reserve tweaked its policy statement to say that the economic outlook was improving. But experts on CNBC were mixed on when the economy will recover.
NOT SEEN ON T.V.: Depending on what you use them for, John Ulzheimer has the three cards that should be in your wallet.
The U.S. economy contracted at a surprisingly sharp 6.1 percent rate in the first quarter reflecting continuing economic woes. In the meantime, President Obama marks his 100th day in office while analysts anxiously await the latest from the FOMC's interest rate decision due this afternoon. (UPDATED with the Fed decision, below). Read and listen to what experts had to say...
Below is the statement released by the Federal Open Market Committee after its Apr. 28-29 meeting on interest rate policy:
Senate Majority Whip Richard Durbin (D-Illinois) Thursday will take so-called bankruptcy cramdown legislation to the floor, seeking a vote on the controversial proposal, say Congressional and industry sources.
Yesterday the Treasury Department announced another element to the Home Affordable Modification Program (one part of the Making Home Affordable Program). It addresses what has been a big impediment to loan modifications so far, that is, second liens. Of the $12 trillion mortgage market, about $1 trillion are second liens (often called “piggyback loans”). According to the NY Times, 70 percent of those are held by banks.
The economy contracted at a steeper-than-expected pace in the first quarter, weighed down by sharp declines in exports and business inventories.
Ahead of the May 4 bank stress test results, experts tell CNBC that the financial system may not be in the clear yet.
South Korea posted a record current account surplus for March as exports rose for a second consecutive month, central bank data showed on Wednesday, cementing hopes the worst for the economy is over.
Consumers hoping that the worst of the recession is over may be setting themselves up for disappointment, a panel of economists said Tuesday.
Federal Reserve policymakers are weighing whether additional steps are needed to brace the economy as an outbreak of the swine flu has emerged as a potential new danger that could aggravate the recession.
It may be the safe-haven choice of the financial crisis, but experts tell CNBC that cash will underperform over the next 10 years.
South Korea's economy averted a recession in the first quarter thanks to pump-priming and rate cuts, the central bank said on Friday, supporting market bets that interest rates had troughed.