*Fed officials meet July 29-30 to discuss policy. NEW YORK/ SAN FRANCISCO, July 24- The U.S. Yet Fed officials, who gather for a policy meeting July 29-30, are in no rush to talk about hiking interest rates because wage gains remain stubbornly low, raising questions about just how close the United States is to full employment.» Read More
Goldman Sachs Senior Investment Strategist Abby Joseph Cohen told CNBC Wednesday that she sees U.S. interest rates climbing, though not necessarily in the short term.
The following is the text of the minutes from the Federal Open Market Committee's meeting of April 29 to 30, issued on Wednesday.
The Fed cut its economic growth forecast and warned of higher inflation and unemployment but signaled more rate cuts are unlikely. "If you had any doubt that the Fed is signaling a pause, that doubt is gone," said one economist.
Mozilo, who has gotten tons and tons of these, writes, “This is unbelievable. Most of these letters now have the same wording. Obviously they are being counseled by some other person or by the Internet. Disgusting.”
A little below the headlines about the latest housing rescue bill--that is, the Senate’s “Federal Housing Finance Regulatory Reform Act of 2008”--are the details of the bill: one of which could have some serious consequences for big ticket homes.
Only arch dove Bank of England policymaker David Blanchflower wanted lower interest rates this month, with the remaining eight Monetary Policy Committee members keen to concentrate on inflation rather than growth.
US interest rates seem to be at the right level to help the sputtering economy without sparking inflation, but policy-makers need to be ready to adjust quickly in the face of a highly uncertain outlook, Federal Reserve Vice Chairman Donald Kohn said Tuesday.
US inflation at the wholesale level rose slower than expected in April, but core inflation, which strips out volatile food and energy prices, rose twice as fast as expected.
The Oracle of Omaha is looking for European businesses with pre-tax profits of at least $75 million, but he says the bigger the better. The tour began in Frankfurt, continues in Lausanne, Switzerland Tuesday and rolls on to Madrid and Milan later in the week.
Australia's central bank actively considered raising interest rates earlier this month as inflation was uncomfortably high, minutes of its May policy meeting showed on Tuesday, sending the Australian dollar to 24-year highs.
The Bank of Japan left interest rates unchanged at 0.5 percent on Tuesday, as expected, opting to take more time to determine when the fog will clear from the economy -- both in Japan and around the world.
The two top members of the U.S. Senate Banking Committee announced Monday that they have a deal that will create a multi-billion dollar mortgage rescue fund and a new regulator for Fannie Mae and Freddie Mac.
A few Federal Reserve policy-makers have begun talking openly about the need to raise interest rates, but it appears more likely the U.S. central bank will stay on hold until early 2009.
World stocks rallied Monday amid signs investors were becoming more confident that the worst of the economic slump might be over.
The whole deal is part of Fannie’s “Keys to Recovery” initiative, which is trying to promote “not just home-buying,” but home-owning. In other words, it’s going to help borrowers trying to refi out of troubled loans
Erin Burnett has been travelling the globe in search of the market movers of tomorrow. So far she has been to Dubai in the United Arab Emirates and Mumbai, India. Today, she is in London. Like last week's comparison of the UAE and India, here are some stats comparing the UK and the US.
The U.S. economy is weak but does not appear to be in a recession, according to a key forecasting gauge, the Conference Board reported.
European Central Bank President Jean Claude Trichet warned on Monday that the end of the credit crunch was not yet in sight and the world was experiencing an "ongoing and very significant market correction."
The credit crunch is far from over and is likely to hit sectors other than housing, Marc Faber, Editor and Publisher of “The Gloom, Boom & Doom Report”, told "Squawk Box Europe."
The US economy and financial markets will improve by year-end but housing still poses the biggest threat to the economy, Treasury Secretary Paulson predicted.