Federal Budget (U.S.)
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The chances of a deal between Democratic and Republican lawmakers that would overhaul the U.S. tax system, trim government spending and reform safety net spending programs appear to be fading.
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A lot has changed since the Federal Reserve hinted two months ago that it might be finished cutting interest rates for a while.
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Treasury Secretary Henry Paulson defended the Bush administration's subprime mortgage plan, telling CNBC that it is not a federal bailout.
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Employers added 94,000 jobs in November, but a slowdown in recent months fueled speculation of a modest rate cut next week.
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A senior White House economist said on Friday he believes the U.S. economy is still strong and not headed for recession, though it remains at risk from the slumping housing market.
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U.S. consumer sentiment soured for a third month in December as a housing recession andexpensive gasoline left consumers at their gloomiest since the aftermath of Hurricane Katrina, a report showed Friday.
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Economists predict a modest gain of 70,000 in payrolls. But a strong private-sector report has the market looking for a positive surprise that could give the Fed license to cut.
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The United States is at an "elevated" risk of economic recession because of housing woes, faltering confidence within financial markets and high oil prices, the nonpartisan Congressional Budget Office said Wednesday.
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Abby Joseph Cohen, chief investment strategist at Goldman Sachs, says the U.S. economy will rebound in mid-2008, but the next few months will be bumpy.
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U.S. chief executives' view of the economy improved in the fourth quarter, although they have become far more concerned about energy prices.
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Federal Reserve Bank of San Francisco President Janet Yellen said on Monday that worsening financial conditions and weaker-than-expected economic data have raised downside risks to the economic outlook.
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Financial market anxiety has rebounded and the process of rebuilding confidence will be "long and slow," a top U.S. Treasury official said on Tuesday.
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The Federal Reserve will cut interest rates by a full percentage point before June to help the housing market, Citigroup's chief economist, Lewis Alexander, said.
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Economists say the Fed is almost certain to lower interest rates Dec. 11, but key economic data in the week to come will determine if its a quarter point or half a point.
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The U.S. economy is continuing to show weakness in everything from personal spending and income to construction spending, according to several reports out Friday
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Federal Reserve Chairman Ben Bernanke said on Thursday a resurgence in financial strains in recent weeks had dimmed the outlook for the U.S. economy, signaling an openness to lowering interest rates again.
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Softer-than-expected new-home sales and a surge in jobless claims heightened fears of a steep U.S. economic slide.
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The White House lowered its U.S. economic growth forecast for 2008 Thursday because of trouble in the housing and credit markets, but said the economy remained resilient and a six-year expansion would continue
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The U.S. economy grew at a robust 4.9% rate in the third quarter, but a surge in jobless claims last week signaled a major slowdown in the fourth quarter.
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Bear Stearns is only the latest Wall Street firm to cut jobs. In recent months, U.S. banks and financial service companies with banking operations having been slashing tens of thousands of positions.
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The economy grew at a slower pace in the late fall as shoppers watched their pennies heading into the busy holiday season.