President Obama said the budget deficit was shrinking, but the numbers are saying something very different.» Read More
The Federal Reserve pumped $41 billion into the U.S. financial system Thursday, one of its largest cash infusions to help companies get through a credit crunch that took a turn for the worse in August.
The mighty U.S. consumer may be starting to crack, just as the Federal Reserve signaled that it was through with interest rate cuts barring a sharper economic downturn.
Personal incomes and core consumer prices increased slowly in September, but the number of U.S. workers filing new claims for jobless aid fell by a more-than-expected 6,000 last week.
The Federal Reserve, moving to head off the threat of a recession, cut two key interest rates by a quarter-point but signaled that it may be done easing rates for now.
The dollar fell to a record low against the euro after the Federal Reserve cut its benchmark interest rate by a quarter-percentage point and said the pace of economic growth will slow this year.
The U.S. economy grew at a surprisingly brisk clip in the third quarter as both consumer spending and exports showed strength despite a battered housing sector.
The statement released by the Federal Open Market Committee after its October 30 & 31 meeting on interest rate policy.
The Federal Reserve is still expected to lower benchmark borrowing costs later today despite unexpected signs of strength in the economy.
Fed policy-makers began meeting as financial markets continued to bet that the central bank will cut interest rates to shore up the faltering housing and credit markets.
The dollar fell to a record low against the euro for the third consecutive session on Tuesday, a day ahead of the outcome of a Federal Reserve meeting at which an interest rate cut is expected.
The United States is strongly committed to a strong U.S. dollar and financial markets there are recovering from the subprime loan crisis even if the housing market has yet to touch bottom, U.S. Treasury Secretary Henry Paulson said on Tuesday.
The Federal Reserve is expected to lower interest rates again this week as insurance against the threat that declining home prices and higher borrowing costs will push the economy into recession.
A Federal Reserve interest rate cut this week is no sure thing and officials are not seriously considering a half-point reduction in overnight rates, the Wall Street Journal reported on Tuesday without citing sources.
The dollar sank to another record against the euro on Monday, trading at as much as $1.44 against the 13-nation currency for the first time, as markets anticipated a likely interest rate cut by the U.S. Federal Reserve this week.
The dollar slipped to record lows against the euro and a basket of currencies Friday as investors, faced with a run of weak U.S. economic data, anticipate a Federal Reserve interest rate cut next week.
Chicago Federal Reserve Bank President Charles Evans said on Monday that outside of housing the U.S. economy is "moving forward," and that the Fed could not afford to go soft on inflation.
Marc Faber, editor and publisher of The Gloom, Boom & Doom Report, thinks the worst is yet to come for the global economy. Appearing on CNBC's "Squawk Box," the economist and managing director of Marc Faber Ltd., explained his bearish outlook -- and offered advice for how to play a glum market.
The dollar rebounded from a fresh low on Monday after as traders pared back bets against the currency after the weekend's Group of Seven meeting yielded no call to action on the falling greenback.
The dollar hit a fresh record low against the euro and a basket of currencies on Friday, pressured by the growing view that a slowdown in the U.S. economy will force another cut in interest rates this month.