The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.» Read More
President Bush sought to assure Americans Saturday that federal checks en route to them as part of a stimulus plan will help spur the ailing economy and pay for soaring gas and food prices.
Europe's central banks should serve as an example to the Federal Reserve of how to manage an economy suffering through stagnation and liquidity issues, Pimco's Bill Gross told CNBC/Europe.
There are a lot of ways to describe what the Fed did today: it took the rate-cut punch bowl off the dining room table, but didn't pour out the punch. It took a baby-step towards neutral, not a grown-up step. That means it preserved the ability to cut if it needs to.
“The news on the economy is going to be pretty much unrelentingly bad in the next few months,” says one economist, who thinks the Fed may keep cutting after today.
The full statement released by the Federal Open Market Committee after its meetings held from April 29-30 on interest rate policy.
The Federal Reserve trimmed interest rates to 2% but left markets guessing about whether further cuts would be needed.
“The news on the economy is going to be pretty much unrelentingly bad in the next few months,” says one economist, who adds there’s good chance the Fed will keep cutting rates after Wednesday's meeting.
As the U.S. Treasury races to get rebate checks to households, higher gasoline prices are blunting the economic impact of the $152 billion stimulus package.
The US economy indeed has entered into a recession, even if the traditional indicators aren't showing it yet, billionaire investment guru Warren Buffett said.
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.