Federal Budget (U.S.)
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In a sign of Wall Street’s resurgent influence, bank lobbyists are aiding lawmakers in preparing legislation that softens regulations of the financial industry.
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For the second time this week, a senior Federal Reserve official conceded the United States economy could slip into recession, but suggested the central bank should wait to see if more rate cuts are needed.
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An index of chief executives' confidence in the US economy plunged to a record low last month, reflecting deeper concerns about the credit crisis and prospects for hiring.
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Now that Wall Street has gone through its version of “Survivor”, it’s time for a reality check. The credit crunch is probably far from over and is likely to play out like a mini-series than a reality TV show.
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US private-sector employers unexpectedly added 8,000 jobs in March, a report by a private employment service said, confounding economists' expectations of a fall.
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The full text of Federal Reserve Chairman Ben Bernanke's prepared testimony before the Joint Economic Committee of Congress on April 2, 2008:
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The full text of a speech on the "Blueprint for Regulatory Reform" given by Treasury Secretary Henry Paulson on March 31, 2008:
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U.S. Treasury Secretary Henry Paulson said on Friday that an economic stimulus program that will put $168 billion into consumers' hands this year and next could help create hundreds of thousands of new jobs.
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The U.S. economy seems to be slipping into recession and the Federal Reserve must cushion the pain and make it as brief as possible, two Fed policymakers said.
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Orders for big-ticket manufactured goods fell for a second straight month in February, a worse-than-expected performance that provided more evidence of a slumping economy.
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Fed Chairman Ben Bernanke’s stock is at a 52-week high on Wall Street --- with the exception perhaps of Bear Stearns, which appears to be selling him short.
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Today's statement is another in a series of very significant communications from the Fed. At the extreme, it could mean the Fed is done cutting rates, barring any more massive credit-market upheavals.
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The size of the Fed’s expected rate cut today may help stimulate a sluggish economy. But it is unlikely to unfreeze the credit markets, especially the mortgage one.
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The Federal Reserve slashed a key U.S. interest rate by three-quarters of a point, to 2.25%, but Wall Street didn't seem to care that the cut was smaller than many had expected.
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Fed policy-makers are expected to make the biggest interest rate cut since 1982, while two major Wall Street firms provided some relief to investors with better-than-expected earnings.
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As the credit crunch worsens, the Federal Reserve is becoming more imaginative in its tactics. Wall Street is now betting on a full-point cut in interest rates, to 2%, when the Fed meets Tuesday.
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The flagging U.S. economy got more mixed news from its troubled housing sector on Tuesday, while evidence of inflation pressures continued to lurk in the producer pipeline.
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The U.S. Internal Revenue Service said Monday it would begin sending the first of more than 130 million economic stimulus payments on May 2 and expects to complete the first round of payments by early July.
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Lehman shares tumbled more than 20 percent Monday as Wall Street speculated whether or not it's the ailing banking system's next casualty.
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Stocks were lower in early trading Monday as Wall Street digested the fire-sale buyout of an investment banking giant: Bear Stearns. CNBC brought the market pros for their perspective on the fallout.
