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Federal Budget (U.S.)

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  • Immelt: US Faces 'Tough Times,' Global Growth Strong Tuesday, 22 Jul 2008 | 11:37 AM ET

    U.S. consumers are going to continue to feel pain until housing prices stabilize, even though global growth remains mostly strong, General Electric Chairman Jeff Immelt said.

  • Fed's Plosser: Time For Interest Rate Increase Tuesday, 22 Jul 2008 | 9:35 AM ET
    Charles Plosser

    To fend off inflation, the Federal Reserve probably will need to boost interest rates "sooner rather than later" even if employment and financial conditions haven't revived, the president of the Federal Reserve Bank of Philadelphia said Tuesday.

  • Paulson: Housing Market Could Turn Corner Soon Tuesday, 22 Jul 2008 | 8:50 AM ET
    Henry Paulson

    Treasury Secretary Henry Paulson said America's housing market could turn a corner and begin recovering within months, but it will take longer to resolve all housing-related problems.

  • Credit Seen Drying Up For U.S. Small Business Monday, 21 Jul 2008 | 9:27 AM ET
    Credit Crunch

    As losses mount at American banks and the pain of the credit crisis spreads from housing and finance to the broader economy, many small companies complain it is increasingly difficult to obtain loans.

  • Paulson: U.S. Banking System Fundamentally Sound Monday, 21 Jul 2008 | 4:26 AM ET
    Henry Paulson

    The U.S. economy needs months to recover from its slowdown, but the banking system remains sound despite a home mortgage crisis that could cause more problems, Treasury Secretary Henry Paulson said.

  • Fewer Economists Call for Second Half Rebound Monday, 21 Jul 2008 | 3:57 AM ET

    The U.S. economy may have avoided a recession but will grow below trend for some time as firms face higher prices for a range of goods that will cut into profits, according to a panel of economists surveyed.

  • Fed's Stern: Hike Rates Sooner Rather Than Later Friday, 18 Jul 2008 | 4:06 PM ET

    Federal Reserve can not wait until financial and housing markets stabilize before raising interest rates, Minneapolis Fed President Gary Stern said in an interview with Bloomberg on Friday.

  • Filings For Jobless Benefits Rise Less Than Expected Thursday, 17 Jul 2008 | 8:41 AM ET

    The number of U.S. workers filing new claims for jobless benefits rose by a less-than-expected 18,000 last week to 366,000 on a seasonally adjusted basis, a Labor Department report showed on Thursday.

  • Fed Worried About Rising Inflation at June Meeting Wednesday, 16 Jul 2008 | 2:15 PM ET

    U.S. Federal Reserve policy makers fretted at their most recent meeting that growing inflation risks may require an interest rate hike, but agreed that the outlook for both prices and growth was still too uncertain, minutes of the meeting showed.

  • Text: FOMC Minutes Wednesday, 16 Jul 2008 | 2:05 PM ET
    The Federal Reserve headquarters in Washington, DC.

    Below is the statement released by the Federal Open Market Committee after its June 24-25 meeting on interest rate policy:

  • Bernanke: Fed's Top Focus Is Financial Stability Wednesday, 16 Jul 2008 | 10:52 AM ET
    Federal Reserve Chairman Ben Bernanke.

    Federal Reserve Chairman Ben Bernanke told a House panel Wednesday a top Fed priority is restoring financial calm even as "too high" inflation and weak growth threaten the economy.

  • Industrial Production Unexpectedly Rebounds in June Wednesday, 16 Jul 2008 | 9:50 AM ET
    Worker in an Alcoa plant.

    US industrial production unexpectedly rebounded in June by 0.5 percent, its biggest jump in nearly a year, as utility and mining output soared and manufacturing reversed two months of declines, the Federal Reserve said on Wednesday.

  • Paulson: Fannie, Freddie Need Stronger Regulator Tuesday, 15 Jul 2008 | 11:49 AM ET
    Henry Paulson

    Housing finance giants Fannie Mae and Freddie Mac have the potential to pose systemic risks to the financial system and need a stronger regulator, U.S. Treasury Secretary Henry Paulson said on Tuesday.

  • Bush Urges Quick Action on Fannie, Freddie Rescue Tuesday, 15 Jul 2008 | 10:41 AM ET

    President Bush urged lawmakers to move quickly in putting into force legislation designed to help prop up mortgage giants Fannie Mae and Freddie Mac while declaring the nation's financial system to be "basically sound."

  • Fed Chief Gives Gloomier Outlook On US Economy Tuesday, 15 Jul 2008 | 10:07 AM ET
    Ben Bernanke

    A weakening housing market, a strained banking system, and rising oil prices threaten the U.S. economy, and restoring financial market stability is a top priority, Fed Chairman Ben Bernanke said.

  • Economy Shows New Signs Of Dreaded Stagflation Tuesday, 15 Jul 2008 | 8:40 AM ET

    Dismal data on inflation and retail sales released on Tuesday flashed fresh signs of stagflation in the U.S. economy.

  • Don't Bail Out Fannie, Freddie: Jim Rogers Tuesday, 15 Jul 2008 | 5:02 AM ET

    The Treasury and the Federal Reserve should not bail out Fannie Mae and Freddie Mac as this would increase the already gaping U.S. public debt, investor Jim Rogers, CEO of Rogers Holdings, told "Worldwide Exchange."

  • Bernanke, Paulson to Testify on Financial Turmoil Tuesday, 15 Jul 2008 | 3:22 AM ET

    Discussion of persistent financial market turmoil is seen as likely to overshadow the Federal Reserve's semi-annual monetary policy outlook when Fed Chairman Ben Bernanke testifies before Congress on Tuesday.

  • This week's problems at Fannie Mae and Freddie Mac are more evidence of a painful fact for the economy: the extent to which mortgage-related debt is exacerbating the current slide, and how it will prolong what more and more analysts are calling a recession.

  • Initial Jobless Claims Show Surprising Drop Thursday, 10 Jul 2008 | 10:04 AM ET

    The number of U.S. workers filing new claims for jobless benefits dropped by a much bigger-than-expected 58,000 last week to 346,000.