US Economy


  • Argentina defaults for second time in 13 years Thursday, 31 Jul 2014 | 12:04 AM ET
    Billboard placed along a street in Buenos Aires showing a poster from the government-related movement San Martin supporting the Argentine government in its dispute with the so-called 'holdout' hedge funds

    Argentina failed to strike a deal to avert its second default in over 12 years after talks with holdout creditors ended without a settlement.

  • Former governor: Fed is right on target     Wednesday, 30 Jul 2014 | 10:17 PM ET

    With key indicators like inflation and employment on their way to meet the Fed's expectations, it may be time to normalize interest rates, says Robert Heller, Former Federal Reserve Governor.

  • No turning point for US jobs: Economist     Wednesday, 30 Jul 2014 | 6:20 PM ET

    Despite recent upbeat employment data, the U.S. labor market is still made up mainly by part-time and low wage jobs, says Lindsey Piegza, Chief Economist at Sterne Agee.

  • Why the Fed needs to be more hawkish     Wednesday, 30 Jul 2014 | 6:08 PM ET

    John Carey, Executive Vice President and Portfolio Manager at Pioneer Investments, says the U.S. is seeing a higher risk of inflation and may face wage pressure in the months ahead.

  • Figures on government spending and debt Wednesday, 30 Jul 2014 | 4:40 PM ET

    WASHINGTON— Figures on government spending and debt.

  • NEW YORK, July 30- The U.S. dollar pared gains against a basket of major currencies on Wednesday after a Federal Reserve statement disappointed expectations that the central bank would take a more hawkish bias on monetary policy.

  • Maine: Fiscal year ended with unexpected revenue Wednesday, 30 Jul 2014 | 4:02 PM ET

    AUGUSTA, Maine— Maine ended the fiscal year with $39.1 million more in revenues than officials had expected, Republican Gov. The extra revenue plus unspent state funds produced a net year-end surplus of nearly $62 million when the fiscal year ended June 30, said Richard Rosen, acting commissioner for the Department of Administrative and Financial Services.

  • Markets could begin to ignore Fed Wednesday, 30 Jul 2014 | 3:56 PM ET
    Janet Yellen, chair of the U.S. Federal Reserve

    The Fed delivered a mixed message Wednesday, and the markets may increasingly start to ignore it if the economy continues to improve, analysts say.

  • Portland OKs Airbnb-type short-term rentals Wednesday, 30 Jul 2014 | 3:16 PM ET

    Mayor Charlie Hales and the city commissioners said they want Portland to be active in the "sharing economy." David Owen, regional head of public policy for Airbnb, said Portland is the first city for which the company is collecting such taxes.

  • Bank of America to pay $1.27 billion in fraud case Wednesday, 30 Jul 2014 | 2:48 PM ET
    A Bank of American branch office in Oakland, Calif.

    A U.S. district court in Manhattan has ruled that Bank of America must pay the U.S. government $1.27 billion in a Countrywide "hustle" fraud.

  • Connecticut's debt maintains negative rating Wednesday, 30 Jul 2014 | 2:45 PM ET

    HARTFORD, Conn.— A ratings agency has maintained Connecticut's debt rating as negative, saying the state's budget relies on one-time fixes and calling the state's economic recovery "slow and uneven." Dannel P. Malloy's budget adviser, said agencies reaffirmed Connecticut's debt ratings while downgrading ratings at other states "across the board.

  • Fed unswayed by growth, keeps easing in place Wednesday, 30 Jul 2014 | 2:41 PM ET
    Janet Yellen, chair of the U.S. Federal Reserve

    A second-quarter economic rebound did nothing to change the Fed, which stayed the course Wednesday with ultra-easy monetary policy.

  • 10-Year bond yields around the world     Wednesday, 30 Jul 2014 | 2:20 PM ET

    PIMCO founder and CIO Bill Gross explains why bond yields in France and Spain are better economic gambles than the U.S. right now.

  • Bill Gross: Yellen watching wage indicators     Wednesday, 30 Jul 2014 | 2:16 PM ET
    Bill Gross

    PIMCO founder and CIO Bill Gross reacts to the Federal Reserve's decision to taper by $10 billion. Gross says watch wages, and shares his yield curve outlook.

  • Text of the Federal Reserve's statement Wednesday Wednesday, 30 Jul 2014 | 2:11 PM ET

    WASHINGTON— Below is the statement the Fed released Wednesday after its policy meeting:. Information received since the Federal Open Market Committee met in June indicates that growth in economic activity rebounded in the second quarter. Labor market conditions improved, with the unemployment rate declining further.

  • Little Treasury volatility post-Fed     Wednesday, 30 Jul 2014 | 2:08 PM ET

    CNBC's Rick Santelli reports on the Treasury market reaction after the Fed announced it will extend its taper.

  • Stocks steady post-Fed     Wednesday, 30 Jul 2014 | 2:07 PM ET

    Traders seem to be focused on the Fed saying a range of indicators suggest significant underutilization of labor resources, with CNBC's Bob Pisani.

  • Here's what changed in new Fed statement Wednesday, 30 Jul 2014 | 2:03 PM ET
    The Federal Reserve building in Washington.

    This is a comparison of today's FOMC statement with the one issued after the Fed's previous policy-making meeting on June 18.

  • Federal Reserve Chair Janet Yellen speaks at a press conference after the 2014 Federal Open Market Committee meeting at the Federal Reserve Board Building in Washington, DC, June 18, 2014.

    The Fed cut its bond-buying purchases by $10 billion, and said rates will stay in the current range for a considerable time after the bond purchases end. The "Street Signs" crew digs into the market's reaction, with Bob Doll, Nuveen Asset Management, and David Kelly, JPMorgan Funds.

  • Fed tapers by $10 billion     Wednesday, 30 Jul 2014 | 2:00 PM ET

    CNBC's Hampton Pearson reports the Federal Reserve has cut its bond-buying purchases by $10 billion to $25 billion per month.

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