Jobless rate in recent years has been a good gauge of slack in the economy, according to a paper published by the Fed.» Read More
Government leaders will need to take a "shock-and-awe" approach towards the economy as indicators show a worsening recession, Mohamed El-Erian, co-CEO of the Pimco bond fund, said Friday.
Economists predict another steep decline in payrolls for January, with the jobless rate expected to reach 7.5%.
The names of several thousand clients who lost money investing with Bernard Madoff have been released in a court filing that reads like a Who's Who: former Los Angeles Dodgers pitcher Sandy Koufax, actor Kevin Bacon and even Madoff's defense lawyer.
“We need a stimulus bill, and we need it now,” said Jack Bogle, founder of the Vanguard Group. Bogle said the U.S. is in a deep recession that could turn worse if actions are not taken quickly.
Whether it's Friday's jobs report or some other bad news, the stock market is likely to retest the November lows. But pros say look past the bottom and start buying.
Today is the day Californians begin to personally feel the pain of the state's massive budget gap. As Gov. Arnold Schwarzenegger and top legislative leaders continue to meet behind closed doors to hammer out a plan covering the current $16 billion gap—projected to grow to $42 billion by June, 2010—the state controller is delaying $3.5 billion in payments to conserve cash.
Not even big layoffs can convince investors that companies are shoring up their balance sheet and are a safe place to put money.
Below is the statement released by the Federal Open Market Committee after its Jan. 27-28 meeting on interest rate policy:
“Only in the upside-down world of Washington do people think that making government bigger is a recipe for economic growth.” So begins Dan Mitchell of the Cato Institute in his latest mini-documentary discussing Obama’s stimulus plan. As you may have guessed, I agree.
I continue to be concerned over this effectiveness of this spending plan and the timing of the stimulus, says Andrew Busch.
The House hopes to vote next week on the $825 billion package sought by President Barack Obama to help the struggling economy, House Speaker Nancy Pelosi said Thursday.
Now that the House Appropriations Committee has voted a big chunk of the stimulus ($358 billion) out of Committee and Ways and Means is marking up their part of the stimulus, traders are again taking a look at what effect stimulus will have on select stocks.
The new bank bailouts are not likely to work because they are run by the same people who prolonged the economic agony, Marc Faber, publisher of the Gloom, Doom and Boom Report, told CNBC.
President-elect Barack Obama said Friday that even with a range of economic measures to move the US out of a recession, the economy would likely get worse before it improves.
Given how things went on the Floor of the House yesterday (not so well for Chairman Barney Frank and his bill to put specific conditions on the remaining TARP money), it is still uncertain what exactly the remaining $350 billion of TARP funds will do to turn the housing market around.
Working closely with President-elect Barack Obama, House Democrats on Thursday called for $825 billion in federal spending and tax cuts to revive the moribund economy, with strong emphasis on energy, education, health care and jobs-producing highway construction.
What a difference three months doesn't make. Though the current financial situation isn't as dire as late September, Happy New Year has quickly turned into deja vu.
The U.S. economy started the new year on weaker footing as recession-shocked Americans retrenched further, forcing retailers to ring up fewer sales and factories to cut back production.
In radically reshaping the TARP, Congressional Democrats want assurances from Obama that he shares their new focus before signing off on new funding.
The Treasury Department is developing tools to measure whether banks that receive funds from the $700 billion financial industry rescue program are increasing lending.