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Federal Budget (U.S.)

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  • Drop in Oil Prices May Not Boost US Economy Much Monday, 11 Aug 2008 | 2:54 PM ET

    Oil inflicts heavy economic pain on the way up, but a slower and smaller benefit on the way down.

  • Economists Even Gloomier on Outlook for US Recovery Monday, 11 Aug 2008 | 1:46 PM ET

    Economists have soured on the U.S. economy's prospects for the second half of 2008 and have cut growth forecasts for next year as well, a closely watched survey released Monday showed.

  • Just the potential for a U.S. recovery will bring "enormous" amounts of under-invested cash back into the stock market, the head of an investment group said.

  • Jobless Claims Hit Highest Point in Six Years Thursday, 7 Aug 2008 | 10:11 AM ET

    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.

  • Rate Hike? Don't Hold Your Breath Tuesday, 5 Aug 2008 | 4:48 PM ET

    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.

  • Big Selloff in Commodities May Help Ease Inflation Tuesday, 5 Aug 2008 | 2:34 PM ET

    The recent pullback in commodity prices—particularly oil—may moderate inflation in the coming months, providing some relief for consumers, stocks and the Fed.

  • Text: FOMC Statement Tuesday, 5 Aug 2008 | 2:21 PM ET
    The Federal Reserve headquarters in Washington, DC.

    Below is the statement released by the Federal Open Market Committee after its Aug. 5 meeting on interest rate policy:

  • Fed Indicates No Rush To Raise US Interest Rates Tuesday, 5 Aug 2008 | 2:14 PM ET
    Federal Reserve Board Chairman Ben Bernanke delivers the board's Monetary Policy Report to the Senate Banking Committee in Washington Wednesday, July 19, 2006. "The recent rise in inflation is of concern," and possible increases in the prices of oil as well as other raw materials "remain a risk to the inflation outlook," Bernanke said. (AP Photo/Dennis Cook)

    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.

  • For Fed, Keeping Rates Steady Is the Easy Part Monday, 4 Aug 2008 | 8:01 PM ET

    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.

  • Stagflation Stifles Global Central Banks Monday, 4 Aug 2008 | 6:10 AM ET

    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.

  • Market Looks to Fed for Insight on Inflation Sunday, 3 Aug 2008 | 3:05 PM ET

    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.

  • Oil Prices May Be Unlikely Savior For US Economy Thursday, 31 Jul 2008 | 1:17 PM ET

    The US economy, desperately looking to stave off a recession, might find salvation in an unlikely place: volatile oil prices.

  • White House's Lazear: No Need For Further Stimulus Thursday, 31 Jul 2008 | 11:25 AM ET

    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.

  • Stimulus Checks Helped Keep Economy Growing Thursday, 31 Jul 2008 | 9:35 AM ET
    Street crowd

    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.

  • GDP Likely to Show Gain, Mostly Due to Stimulus Wednesday, 30 Jul 2008 | 5:47 PM ET
    Tax Refund Check

    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.

  • Budget Deficit to Hit Record, Official Says Monday, 28 Jul 2008 | 9:35 AM ET

    A senior Bush administration official says the budget deficit for this year will set a record in dollar terms, approaching $490 billion.

  • Economic Headwinds Increasing: Fed's Stern Monday, 28 Jul 2008 | 4:14 AM ET
    Federal Reserve

    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.

  • Beige Book: Full Text Wednesday, 23 Jul 2008 | 2:03 PM ET

    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:

  • House to Vote on Foreclosure Rescue Bill Wednesday, 23 Jul 2008 | 4:06 AM ET
    A home is advertised for sale at a foreclosure auction in Pasadena, California.

    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.