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Federal Budget (U.S.)

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  • Fed's Hoenig Says 'Wait and See' on Interest Rates Thursday, 18 Oct 2007 | 12:27 PM ET

    Federal Reserve policy maker Thomas Hoenig said on Wednesday he was open minded about the future direction of U.S. interest rates but was on alert for fallout from financial market woes.

  • Dollar Drops to New Low vs. Euro, Yen, Pound Thursday, 18 Oct 2007 | 11:50 AM ET

    The dollar dropped to a record low against a basket of currencies and the euro Thursday, after Bank of America's third-quarter earnings results missed estimates, renewing concerns of a U.S. economic slowdown.

  • Dollar Slips vs. Yen, Euro on Glum Housing Starts Wednesday, 17 Oct 2007 | 3:18 PM ET

    The dollar fell broadly Wednesday after a report showed housing starts dropped to their lowest level in 14 years in September, adding to concerns that the housing market may drag on the US economy.

  • Beige Book: Full Text Wednesday, 17 Oct 2007 | 2:23 PM ET

    The summary of the Beige Book released by the Federal Reserve prepared at the Federal Reserve Bank of Dallas and based on information collected on or before October 5, 2007.

  • Dollar Gains Against Euro, Other Currencies Tuesday, 16 Oct 2007 | 2:40 PM ET

    The dollar rose against the euro and high-yielding currencies such as the New Zealand dollar Tuesday, as investors grew cautious of risky trades amid a sell-off in global equities and a surge in oil prices.

  • Bernanke Spooks Investors With Market Outlook Tuesday, 16 Oct 2007 | 1:51 PM ET
    Ben Bernanke, President Bush's top economic adviser, speaks in the Oval Office at the White House after Bush named him to take over the Federal Reserve from retiring Alan Greenspan, in Washington, Monday, Oct. 24, 2005. It was the third time in as many years the president has turned to the 51-year-old Bernanke for a sensitive post. Bush named him to the Fed board in 2002, then made him chairman of the president's Council of Economic Advisers earlier this year. (AP Photo/J. Scott Applewhite)

    Federal Reserve Chairman Ben Bernanke spooked investors by saying a full recovery in financial markets may not happen right away.

  • Foreigners Dumped U.S. Assets in August Tuesday, 16 Oct 2007 | 12:24 PM ET

    Foreign investors fled from U.S. assets in August as a meltdown in the U.S. subprime mortgage market triggered a global credit crunch, Treasury Department data showed on Tuesday.

  • Paulson: Housing Remains Drag on Economy, Markets Tuesday, 16 Oct 2007 | 11:59 AM ET
    Treasury Secretary, Henry Paulson

    Treasury Secretary Henry Paulson warned that the  housing correction would continue to hurt the economy and financial markets and called for assistance for homeowners.

  • Ben Bernanke's Speech Tuesday, 16 Oct 2007 | 9:36 AM ET

    The text to a speech given by Federal Reserve Chairman Ben Bernanke on "The Recent Financial Turmoil and its Economic and Policy Consequences" on October 15, 2007 in New York City.

  • Dollar Slides, Hurt by US Stock Market Losses Monday, 15 Oct 2007 | 3:42 PM ET

    The yen hit its lowest levels in around two months against both the dollar and euro on Monday, as risk-seeking investors took advantage of cheap Japanese borrowing costs to fund purchases of high-return assets.

  • Consumer Sentiment Edges Lower in October Friday, 12 Oct 2007 | 10:35 AM ET

    U.S. consumer sentiment fell slightly in early October to its lowest in more than a year as uncertainty grew about the extent of the housing slump, a survey released Friday showed.

  • Bush Says He Believes in Strong Dollar Policy Friday, 12 Oct 2007 | 1:56 AM ET

    President Bush said in an interview with the Wall Street Journal Thursday that he believes in a "strong dollar policy" and that a trade war with China is not in the US interest.

  • Fed Comments Suggest Rate Cut Far From Certain Wednesday, 10 Oct 2007 | 11:21 AM ET

    Federal Reserve officials Tuesday said the U.S. economic outlook is unclear, but credit market strains that led the central bank to cut interest rates sharply last month are easing, suggesting a follow-up rate cut is not a done deal.

  • Trading Shots On Trade Wednesday, 10 Oct 2007 | 9:44 AM ET

    Trade policy emerged as the hot-button issue among the nine Republican presidential hopefuls squaring off on Tuesday, but taxes, economic growth and the health of the American middle class also got their fair share of attention in the debate.

  • Fed Was United in Cutting Interest Rates Last Month Tuesday, 9 Oct 2007 | 3:03 PM ET

    All of the Fed's policy-setting committee agreed that a half-point cut in rates was needed to shield the economy from credit disruptions and the housing slowdown, minutes of the Sept. 18 meeting showed.

  • US Subprime Crisis Will Not Peak Until 2009: S&P Tuesday, 9 Oct 2007 | 6:44 AM ET

    The U.S. subprime housing crisis will not peak until 2009 and total defaults could reach $150 billion, Standard and Poor's said.

  • Dollar Climbs as Investors Reassess Risk Monday, 8 Oct 2007 | 4:44 PM ET
    Dollar and Euro

    The dollar gained in quiet trade Monday against most major currencies as investors reassessed risk and bet that Friday's sell-off on a U.S. payrolls report was overdone.

  • Greenspan Says U.S. Economic Growth Is Slowing Sunday, 7 Oct 2007 | 11:55 AM ET

    Former Federal Reserve Chairman Alan Greenspan said Sunday that the rate of U.S. economic growth was slowing, but the odds of a recession are less than 50%.

  • U.S. Budget Deficit Narrows in Fiscal Year 2007 Sunday, 7 Oct 2007 | 11:15 AM ET

    The U.S. federal budget deficit fell to $161 billion in fiscal 2007 from $248 billion the prior year as growth in tax receipts, fueled by capital gains and other non-withheld income, outstripped spending growth, the Congressional Budget Office said on Friday.

  • Dollar Falls After Brief Jobs Data Euphoria Friday, 5 Oct 2007 | 4:07 PM ET

    The dollar weakened Friday, after dealers decided a relatively solid U.S. employment report was not enough to move the U.S. economy off a slowing path and keep the Federal Reserve from possibly cutting interest rates.