The head of the Federal Reserve, Janet Yellen, vowed to do all that she can to bolster a U.S. economy that is still weak.» Read More
President-elect Barack Obama will announce the leaders of his economic team Monday, naming Timothy Geithner as treasury secretary and Lawrence Summers to direct the National Economic Council, transition officials said.
U.S. President George W. Bush, Chinese President Hu Jintao, Japanese Prime Minister Taro Aso and other members of the 21-nation Asia-Pacific Economic Cooperation group, or APEC, said they would refrain from raising trade barriers over the next 12 months.
U.S. President-elect Barack Obama said Saturday he was crafting an aggressive two-year stimulus plan to revive the economy, warning that swift action was needed to prevent a deep slump.
Chaos reigns Friday: Lame-duck White House and Congress are unable to reach a decision on the financial crisis. Yet Citigroup stock inched up, despite misgivings over the CEO's determination not to break up the firm. And while legislators dither over the jet-setting Big 3 automakers' fates, one strategist told CNBC that Ford Motor stock could yet quadruple overnight. (You read that correctly.)
As the Dow opened to the upside on Friday, Jack Welch, former General Electric chairman & CEO, shared his insights on Detroit, the economy and Wal-Mart's new CEO.
The Big 3 U.S. automakers may have reached a bailout compromise Thursday — or not. Citigroup shares hover near $5, even after mega-investor Saudi Prince Alwaleed bin Talal said he'd boost his Citi stake to 5 percent. Strategists told CNBC to expect more volatility — and no bottom for months yet.
Cuts to interest rates may not be enough in and of themselves to boost the economy, Pimco's Bill Gross said on Wednesday.
Things look worse for GM, Ford and Chrysler Wednesday as Congress seems less likely to approve a $25 billion automaker bailout. Stocks slipped — but some analysts say that slide had little to do with the Big 3. CNBC canvassed the experts, who foresee plunging oil prices, a stronger dollar — and say the market has already bottomed (!).
On Tuesday, U.S. legislators heard testimony from Treasury Secretary Hank Paulson and Fed Chairman Ben Bernanke, the TARP bailout seems to ire everyone — and few can agree what to do with the Big 3 automakers. CNBC's experts offered their views on the economy — and actually found reason for investor hope.
Chairman Frank, Ranking Member Bachus, and Members of the Committee, I appreciate the opportunity to testify on behalf of the Federal Deposit Insurance Corporation (FDIC) regarding recent efforts to stabilize the nation's financial markets and reduce foreclosures.
Chairman Frank, Ranking Member Bachus, and other members of the Committee, I appreciate having this opportunity to review some of the activities to date of the Treasury's Troubled Asset Relief Program, or TARP, and to discuss recent steps taken by the Federal Reserve and other agencies to support the normalization of credit markets.
Good morning and thank you for the opportunity to testify this morning on implementation of the Emergency Economic Stabilization Act. I am grateful and everyone in this country should be grateful, for the efforts of Chairman Frank, ranking member Bachus, this committee and other members of Congress toward adoption of the financial rescue legislation, which created critically important authorities and financial capacity to stabilize our financial system.
As recession fears continue to spread globally, investment banks like Goldman Sachs scramble to survive — and investment gurus alter their tactics and strategies to roll with the damage. CNBC's expert advisors gave their outlooks on what's coming and what to do about it.
The U.S. government should provide funding to struggling Detroit automaker General Motors, Wilbur Ross, chairman & CEO of WL Ross & Co., told CNBC on Friday.
Stocks enjoyed a late-day rally Thursday after the S&P 500 broke through its Oct. 10 low — but the euphoria abruptly ended amid talk of a $14 trillion consumer debt pile, and layoff talk from Sun Microsystems and Dow Chemical. CNBC's expert guests offered their views on what's coming next.
The full remarks of Federal Reserve Chairman Ben Bernanke on central bank policy coordination the Fifth European Central Bank Central Banking Conference.
This weekend's global economic summit isn't generating a lot of enthusiasm on Wall Street. But some are hoping that the gathering might yield some tangible results.
New jobless claims hit a 7-year high Thursday; and even strong companies look weaker in the future. But some strategists see hopeful market signs amid the chaos. CNBC canvassed economic and financial experts for their insights.
Treasury Secretary Henry Paulson on Wednesday said he'd direct the $700 billion bailout fund toward uses like consumer debt — and away from dicey mortgage assets. Solid news for some; more uncertainty for others. CNBC's expert guests weighed on the markets and the global economy.