CHICAGO, Aug 1- Chicago said its budget deficit was on track to shrink to just below $300 million in 2015, but a state-mandated increase in pension payments would expand gaps in the future.» Read More
Argentina failed to strike a deal to avert its second default in over 12 years after talks with holdout creditors ended without a settlement.
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.
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.
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.
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.
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.
The Fed delivered a mixed message Wednesday, and the markets may increasingly start to ignore it if the economy continues to improve, analysts say.
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.
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.
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.
A second-quarter economic rebound did nothing to change the Fed, which stayed the course Wednesday with ultra-easy monetary policy.
PIMCO founder and CIO Bill Gross explains why bond yields in France and Spain are better economic gambles than the U.S. right now.
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.
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.
CNBC's Rick Santelli reports on the Treasury market reaction after the Fed announced it will extend its taper.
Traders seem to be focused on the Fed saying a range of indicators suggest significant underutilization of labor resources, with CNBC's Bob Pisani.
This is a comparison of today's FOMC statement with the one issued after the Fed's previous policy-making meeting on June 18.
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.
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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