CNBC's Tyler Mathisen looks back at the week's top business and financial stories. The markets were closed for Thanksgiving, but did manage to hit new highs. Low oil prices gave consumers more money to spend for Black Friday.» Read More
Though Ben Bernanke did not come out with a billboard and say he was cutting rates, there was ample indication that he stood ready to act: "It is not the responsibility of the Federal Reserve--nor would it be appropriate--to protect lenders and investors from the consequences of their financial decisions...
Economics is known as an imprecise science and one might need look no further than the business of calling recessions to see that. Unlike the weather, recessions arrive before you know it and depart under the same circumstances.
"It is not the responsibility of the Federal Reserve--nor would it be appropriate--to protect lenders and investors from the consequences of their financial decisions. But developments in financial markets can have broad economic effects felt by many outside the markets, and the Federal Reserve must take those effects into account when determining policy."
The Fed will take the necessary steps to shelter the economy from turmoil in financial markets but will not bail out investors, Chairman Ben Bernanke said.
A sharp drop in investment and government spending more than halved quarterly euro zone growth for April to June, but this is unlikely to stop further ECB interest rate rises as analysts expect the economy to pick up.
President Bush outlined reforms on Friday aimed at helping subprime mortgage borrowers. This marks the administration's first public response to the subprime housing crisis since the problem began gathering in February.
Stocks rallied after President Bush outlined his plan to help distressed homeowners, and Federal Reserve Chairman Ben Bernanke said the Fed will act as needed to address credit concerns.
Here are the latest video reports from Jackson Hole, Wyo., where Federal Reserve Chairman Ben Bernanke said that the central bank is prepared to act "as needed" to help provide liquidity to the financial system but won't bail out investors who made bad decisions.
I have said many times the Street believes the Fed will do everything in its power--including cutting the Fed funds rate--to address the liquidity crunch. Never mind that some want to argue that cutting rates won't make a difference. The Street thinks it will. As an example, here is what Joe LaVorgna at Deutsche Bank told his clients a couple hours ago. .
On Friday, Federal Reserve Chairman Ben Bernanke will address the annual monetary conference held in Jackson Hole, Wyo. Amid the U.S. subprime mortgage mess, tightening global credit and a volatile market, everyone is waiting on what Bernanke will say -- and do.
OK, we now know that the President, the Congress, and the Fed are acting, and if things get worse, will act in an even more aggressive manner. What's next? Here are the facts: 1) We are heading toward the end of the year, and traders are now trying to figure out how to insure profits
I'm incensed. There's no other way to describe it. I called the White House, because after listening to the President's speech and reading the corresponding press release from the White House, I was confused, because of this: "The "FHA-Secure" program will help people who have good credit...
The health of Wall Street's investment banks and the possibility that they are holding hidden financial bomb shells has been one of the biggest worries on the minds of traders. In fact, today is a kind of witching day for Wall Street as the firms shut their books on what has been an eventful quarter.
European stocks closed in the green on Friday after the two top U.S. economic policymakers said it was not up to the government to rescue bad investments but acknowledged they would intervene to prevent a spillover of the U.S. credit market crisis into the broader economy.
Economic data released Friday showed inflation under control in July while U.S. factories were busier than forecast, portraying a resilient economy in little need of an interest rate cut.
President Bush outlined reforms to help struggling subprime mortgage borrowers. This is the president's first formal response to the subprime housing crisis since the problem began snowballing this past February.
Core U.S. consumer prices rose by a less-than-expected 0.1 percent in July, showing stable prices that held the year-on-year rate of nonfood, nonenergy inflation to 1.9 percent for the second month in a row, the Commerce Department said Friday.
Inflation numbers are good for those who want a rate cut. The PCE deflator shows moderating inflation. U.S. futures--as well as European bourses--are also rallying because of President Bush's proposal to help homeowners who cannot pay their mortgages.
Australian consumers spent freely for a second straight month in July as strong employment, high consumer confidence and generous tax cuts combined to get the third quarter off to a brisk start.