In a sign of Wall Street’s resurgent influence, bank lobbyists are aiding lawmakers in preparing legislation that softens regulations of the financial industry.» Read More
A Federal Reserve official and a state secretary warned Thursday the slowdown in the U.S. economy was quickening, because of weak housing prices, falling stock prices and rising energy costs.
Fed Chairman Bernanke has indicated he is open to congressional and White House efforts to develop a rescue package to avert a recession.
Democratic and Republican leaders of the U.S. House agreed to develop a bipartisan economic stimulus plan to help avert a possible recession.
Federal Reserve Chairman Ben Bernanke wants Congress to act quickly to pass an economic stimulus package, Sen. Charles Schumer told CNBC.
The U.S. economy continued to grow in the final weeks of the fourth quarter but the paceof activity slackened amid subdued holiday spending and a weak housing sector.
The U.S. economy is probably in a recession or about to slide into it, former U.S. Federal Reserve Chairman Alan Greenspan said in an interview with The Wall Street Journal.
U.S. consumers are tightening their purse strings, and the squeeze may be severe enough to topple the U.S. economy into recession.
The Federal Reserve is unlikely to cut interest rates before its next scheduled meeting in late January but may consider doing so if the outlook deteriorates sharply before then, the Wall Street Journal reported on Monday.
The U.S. trade deficit in November surged to the highest level in 14 months, reflecting record imports of foreign oil. The deficit with China declined slightly while the weak dollar boosted exports to another record high.
Inventories at U.S. wholesalers rose 0.6 percent in November, but they did not keep pace with sales, which saw the biggest monthly increase in more than two years on rising petroleum prices, the government reported Thursday.
Treasury Secretary Henry Paulson discusses the dollar, the housing market, China and fly-fishing with the Squawk Box news team.
Treasury Secretary Paulson said the Bush administration is trying to minimize the impact of a housing downturn rather than rush new stimulus measures.
A worse-than-expected report on December job growth fueled worries about a U.S. recession but also heightened speculation of more interest-rate cuts.
Hiring practically stalled in December, driving the nation's unemployment rate up to a two-year high of 5 percent and fanning fears of a recession.
The drag on the U.S. economy from a deep housing slump should ease by mid-year, paving the way for stronger economic growth, a top White House adviser told CNBC.
The first employment report of the year looks set to make or break the trading day for stocks worldwide, as investors' fears about the fate of the U.S. economy grow.
Worries about inflation may limit any monetary easing by the Federal Reserve, even though credit crunch and a slower economy have investors expecting aggressive interest rate cuts, The Wall Street Journal said on Friday.
President Bush said he was considering the possibility of offering a fiscal stimulus package to help boost the economy but said he has not made a decision yet.
New orders at U.S. factories surged a bigger-than-expected 1.5 percent in November on a bigrise in orders for nondurable goods, a government report showed on Wednesday.