WASHINGTON— Federal Reserve Chair Janet Yellen has met with a group of conservative activists who are unhappy with the central bank's conduct of interest-rate policies. Yellen rejected the GOP criticism as unfounded. Representatives of the Heritage Foundation and Cato Institute also participated in the meeting.» Read More
A year ago, spreads between the long bond and the 2-year note were close to zero. At the start of February 2007 we were looking at a slightly inverted yield curve, often a predictor of a recession. Now, a year later, the spread is approaching 300 basis points, hitting 292 on Friday. We haven't hit spreads that wide since 2004. Here is a 10 year history of treasury yields...
Australia's central bank on Tuesday raised interest rates to a 12-year peak of 7.25 percent as it fought to keep inflation under control, but noted tentative signs the red-hot economy might be cooling.
In a series of exclusive live appearances on CNBC's Squawk Box this morning, Warren Buffett told us that by a "common sense definition", the U.S. economy is already in a recession, even if it hasn't met the technical definition of two consecutive quarters of negative growth. He restated, however, his view that over the long-run the U.S. economy will do fine and that each generation will live better than the one before it.
The combined punch of subprime mortgage defaults and heavy debt remains the biggest risk to the health of the U.S. economy, a panel of business economists said Monday.
As you know, I was out sick all last week, so I have a lot of pent up "bloggage." This morning NY Attorney General Andrew Cuomo announced a deal with Fannie and Freddie and OFHEO to change the way the whole appraisal system works. No question, this is a good thing
On Saturday morning, when most of us where headed off to soccer or gymnastics or the hardware store, Fannie Mae and Freddie Mac were officially getting their portfolio caps lifted. Fabulous, right? Exactly what they’d been pushing for, as the government-inspired, if not actually backed, entities are seen as sort-of saviors of the mortgage market.
Japan's government may be forced by opposition lawmakers to change its candidate to head the central bank, with former Deputy Governor Yutaka Yamaguchi a possible alternative, local media reported on Sunday.
Plans for sweeping federal programs that would aid troubled mortgage borrowers would bring unfair relief to speculators and reward investors who made bad bets, U.S. Treasury Secretary Henry Paulson said Thursday.
The European Central Bank’s outlook on interest rates will dominate the European stock markets next week, when trading is likely to drift in light volumes ahead of Thursday’s big announcement, traders told CNBC.com.
Today I have the first television interview with Jeff Greene, a Beverly Hills real estate mogul who single-handedly shorted subprime. His $50 million investment is up tenfold, to $500,000,000. He is apparently the first individual investor to do such a trade.
The chance of an aggressive 75 basis points cut in the Federal Reserve's benchmark interest rate shot up to 62 percent on Friday, as U.S. equity futures pointed to a lower open and Treasury prices surged.
Euro zone economic sentiment fell more than expected in February to its lowest in over two years, highlighting risks to growth and boosting the chances of an ECB rate cut, despite a confirmed surge in January inflation.
A Bay Area suburb grappling with declining revenue and ballooning employee expenses may become the first city in the state to declare bankruptcy.
Fed Chairman Bernanke said some small U.S. banks might go under during the current housing market problems, but the U.S. bank system overall remained solid.
The portion of U.S. junk bonds trading at distressed levels rose to 16.9 percent in February, up from 11.1 percent in January in a sign that defaults are headed higher, Standard & Poor's said on Wednesday.
French consumer confidence fell to its lowest in more than two decades in February as accelerating inflation made households less inclined to make big-ticket purchases, national statistics office INSEE said on Thursday.
Federal Reserve Chairman Ben Bernanke said the U.S. central bank will act as needed to ensure beleaguered housing and credit markets do not further undermine an already sluggish economy...
Fed Chairman Bernanke warned Congress that the nation is in for a period of sluggish business growth and sent a fresh signal that interest rates will again be lowered.
Market expectations that the European Central Bank will cut interest rates fail to consider the dangers of higher inflation, ECB Governing Council member Axel Weber said on Wednesday.
European stocks ended largely flat Wednesday, having pulled back from earlier losses, as negative U.S. economic data was counterbalanced by news that investment caps for two U.S. mortgage financiers would be lifted.