The head of the Federal Reserve, Janet Yellen, vowed to do all that she can to bolster a U.S. economy that is still weak.» Read More
The stock market will likely start the week on a hesitant note with Wall Street facing the first Federal Reserve interest-rate decision in many months not knowing that a cut is likely guaranteed.
If the U.S. Federal Reserve wants to restrain oil and food prices and help downtrodden consumers, the best thing it can do is stop cutting interest rates.
Texas Gov. Rick Perry asked the government to cut "skyrocketing" food prices by waiving half of the renewable fuel standard for ethanol made from grain.
President George W. Bush said on Friday that the U.S. economy is in a slowdown but added that tax rebates should help pull activity out of the slump.
The United States is in a recession but the downturn is expected to be mild because consumer spending is not expected to fall precipitously, Standard & Poor's said Thursday.
Oil prices, which are setting fresh records nearly every day, are likely to keep climbing until the weak US dollar starts recovering and more supplies become available.
Business economists are turning pessimistic about the U.S. outlook and increasingly fear economy will slip into a recession in coming months.
Executives at several top diversified U.S. manufacturers said they are starting to see signs of the slowing economy taking a toll on business, tempering their outlook for 2008.
The euro cannot replace the dollar as the world's main reserve currency, and a system of two reserve currencies would be unstable, billionaire investor George Soros said on Thursday.
Banks are so wary about lending that credit costs are pushed up despite cuts in interest rates, Fed Vice Chairman Kohn said. .
Factory activity in the U.S. Mid-Atlantic region contracted for a fifth straight month in April, a survey released on Thursday showed.
The number of US workers applying for unemployment benefits rose by 17,000, which was marginally less than expected, while those of workers remaining on jobless benefits were at the highest level in almost four years, a government report showed on Thursday.
Measuring inflation without including food and energy costs no longer makes sense, PIMCO Chief Investment Officer Bill Gross told CNBC.
Federal Reserve Chairman Ben Bernanke said the U.S. economy could face a mild recession but that growth should pick up as the impact of aggressive interest rates cuts are felt.
The US trade deficit widened unexpectedly in February as imports of consumer and other goods set a record and grew faster than exports, which hit a record for the 12th consecutive month, a government report showed on Thursday.
The Federal Reserve will stop cutting interest rates once it is assured that the economic contraction is limited to the financial sector, PIMCO CEO Mohamed El-Arian told CNBC.
The Federal Reserve is mulling further steps to address liquidity problems in financial markets should measures taken to date fail to gain traction, a Fed official confirmed Wednesday.
Former Federal Chairman Alan Greenspan told CNBC he had little to do with the housing bubble or credit crisis despite criticism the Fed kept interest rates too low under his watch.
Former Federal Reserve Chairman Alan Greenspan has defended himself from charges that easy U.S. monetary policy created the current credit crisis by inflating a housing bubble, and instead blamed professional investors.
Worries about a deep recession--not a shallow one--drove Fed policymakers to slash interest rates again last month, according to minutes of their meeting.