Congressional leaders from both parties are working out the details of a two-year federal budget deal they hope to vote on before the holiday recess.» Read More
The number of newly laid off people signing up for jobless benefits last week climbed to its highest point in more than six years as companies cut back given the faltering economy.
What you think of today’s statement by the Federal Reserve depends a lot on what you thought before the announcement. Those who believed the Fed was on course to tighten in the fall see the statement as dovish; those who thought that was unlikely see the statement as either neutral or even hawkish. I’m in the camp who believes this statement was neutral as to the outlook for policy changes.
The recent pullback in commodity prices—particularly oil—may moderate inflation in the coming months, providing some relief for consumers, stocks and the Fed.
Below is the statement released by the Federal Open Market Committee after its Aug. 5 meeting on interest rate policy:
The Fed held U.S. interest rates steady, expressing concerns about both economic growth and inflation and indicating it is in no rush to push borrowing costs higher.
Wall Street widely expects the Fed to keep interest rates unchanged Tuesday as the central bank grapples with a faltering economy, shaky financial system and higher prices.
Warren Buffett will participate in a live Omaha "town hall" event to be seen in hundreds of movie theaters across the nation, following the screening of a documentary movie that argues the U.S. is going broke.
The specter of stagflation will likely keep the U.S. Federal Reserve, the European Central Bank, and the Bank of England from changing short term interest rates this week, and their hands may be tied for some time as economic growth slows but inflation remains high.
The main event this week is the Fed meeting on Tuesday and investors will tune in to see if Bernanke & Co. offer any insight on inflation. Plus, more earnings, including Cisco, P&G and AIG.
The US economy, desperately looking to stave off a recession, might find salvation in an unlikely place: volatile oil prices.
A pickup in U.S. growth during the second quarter showed that the economy was resilient and that an emergency stimulus package was working, a senior White House adviser said on Thursday.
An emergency dose of government stimulus helped the U.S. economy grow at a 1.9 percent annual rate in the second quarter, a soft pace but enough to take it off a path perilously close to recession.
The US economy probably grew modestly in the second quarter, but analysts believe Thursday's GDP report will mainly reflect the help from stimulus checks.
A senior Bush administration official says the budget deficit for this year will set a record in dollar terms, approaching $490 billion.
Inflation is a concern in the United States and headwinds to economic growth may be picking up, Minneapolis Fed President Gary Stern said in a newspaper interview published on Monday.
The following is the full text of the Beige Book released by the Federal Reserve on July 23, 2008 and based on information collected on or before July 14, 2008:
The government would help struggling homeowners get new, cheaper loans and be allowed to offer troubled mortgage giants Fannie Mae and Freddie Mac a cash infusion as part of legislation that aims to calm the chaotic housing market.
Oilman T. Boone Pickens says he's pushing his alternative energy proposal to Congress not because he wants to make money through his own businesses, but because he knows how to solve the nation's energy problem.
U.S. consumers are going to continue to feel pain until housing prices stabilize, even though global growth remains mostly strong, General Electric Chairman Jeff Immelt said.
To fend off inflation, the Federal Reserve probably will need to boost interest rates "sooner rather than later" even if employment and financial conditions haven't revived, the president of the Federal Reserve Bank of Philadelphia said Tuesday.