COPENHAGEN, Denmark— Sweden's central bank has cut its key interest rate to a record low of minus 0.35 percent saying "events in Greece over the past few days have substantially increased the uncertainty." In a statement, the bank says the consequences of the situation in Greece for the eurozone as a whole and for Sweden "are difficult to judge.» Read More
One benefit of the recession is that inflation is nowhere to be seen, as consumer prices have barely grown in months.
The Social Security Administration makes it official Thursday: There will be no cost of living increase for Social Security recipients next year, the first year without one since automatic adjustments were adopted in 1975.
You can’t believe a word they say.
Stocks rallied Wednesday and the Dow broke through 10,000 for the first time in over a year, fueled by strong earnings from JPMorgan and Intel.
Stocks rallied Wednesday, with the Dow homing in on 10,000, after JPMorgan and Intel got earnings season back on track and retail sales fell less than expected.
Just when you think you've heard it all in today's housing market, along comes a story that takes all those statistics and all those monthly foreclosure reports and all that testimony to Congress and just drop kicks them all out the window.
A prolonged period of tepid economic growth will negate any need for the Federal Reserve to raise rates well into the future, former central bank governor Frederic Mishkin told CNBC.
Futures pointed to a strong open Wednesday, with the Dow ready to make another run at 10,000, after JPMorgan and Intel got earnings season back on track and retail sales fell less than expected.
A combination of falling revenues, high debt and tougher lending standards by banks has pushed up dependence on alternative lenders in the UK.
Risky assets will continue to outperform safer assets and investors should stick to bonds and quality stocks such as Johnson & Johnson, Intel and CSX, instead of Treasurys and cash, Bob Doll, vice chairman and global CIO of equities at BlackRock, told CNBC.
A lot has changed since the 1980s, but some things stay the same: we‘re back to breaching all-time highs for the price of bullion.
The stock market may be up, U.S. service industries may be recovering, banks may be lending again and housing prices holding. But one major piece of the recovery puzzle is still missing: a brighter employment picture.
State officials worked into the weekend as part of the most ambitious effort ever to calculate, in real time, the effect of a government spending program. From 11 jobs repaving a road in Caldwell, Texas, to one job helping run Utah food banks, to states were required to say exactly what became of billions in government aid.
It's my favorite time of year again. The air is crispy, the leaves are crackly, and the mortgage bankers are crunching numbers once more at their annual convention here in San Diego.
America and China have a problem. A very big multi-trillion dollar problem that shows no sign of going away whatever the financial crisis throws at it.
The employment crisis is expected to worsen as companies stay reluctant to hire. Many economists expect a jobless recovery, putting pressure on President Barack Obama and congressional Democrats to stimulate job creation.
The foreclosure crisis has shifted from subprime to prime, and we didn't need a Congressional Oversight Panel to tell us that "because of the recession, declines in home prices, and tithe persistence of job losses, foreclosures involve families who paid sizeable down payments and took out conventional loans."
To say the residential real estate market is at a crossroads is the understatement of the current economic recession.
Today the Treasury Department releases its monthly status report on its Home Affordable Modification Program launched last Spring. This is the one that gives the number of trial mods offered and then lists all the servicers and shows what they are and, more importantly, are not doing for troubled borrowers. The report goes through Sept. 30th, but the Administration didn't want to let an important milestone go by, so they had a short conference call this morning with reporters.
The 30-year fixed-rate mortgage averaged 4.87 percent for the week ending October 8, 2009, down from last week when it averaged 4.94 percent, according to Freddie Mac.