Citing lower-than-expected corporate taxes, the CBO projected a slight increase over previous budget deficit estimations.» Read More
Congress approved a one-year delay in imposing the alternative minimum tax on over 20 million additional taxpayers. President Bush will sign the measure.
Americans are going digital in more ways than one. In a release, the U.S. Census Bureau's Statistical said that not only are people purchasing consumer electronics transitioning from analog to digital format, they're also buying products digitally.
The U.S. House of Representatives on Wednesday approved a $556 billion bill to fund most of the federal government through September 2008, ending a year-long budget fight with President George W. Bush by also including new money for the Iraq war
Treasury Secretary Henry Paulson said Monday that moves by some big banks to bring off-balance sheet investments tied to subprime mortgages back onto their books would help ward off a widespread credit crunch.
Everybody seems to have an opinion on the Federal Reserve's plan to ease the global credit crunch. Here's what some CNBC guests were saying Thursday.
Confronting the Senate and White House, House Democrats for a second time passed tax relief for 21 million people, going after companies and hedge fund managers that shelter money offshore. The vote Wednesday was a near party-line 226-193.
Central banks banded together to make it easier for stressed banks to borrow money in a credit crunch that threatens to knock the U.S. economy into recession.
Major central banks, including the Federal Reserve and the European Central Bank, acted in unison Wednesday in unveiling plans to provide liquidity to the banking system, where funds covering a longer span of time have become scant.
The Federal Reserve's plan to ease the global credit crunch has been in the works for a while and will be more effective than cutting interest rates, a senior Fed official said.
The U.S. Federal Reserve on Wednesday announced with other major central banks measures to alleviate upward pressure in interbank markets as financial sector troubles have made it more difficult for banks to raise funds. Following are some major steps the Fed has taken to provide funding to the banking system.
The text of the Federal Reserve's statement on adding additional liquidity into money markets released Dec. 12.
The Federal Reserve cut interest rates a modest quarter point, disappointing Wall Street, which had hoped for more-aggressive action.
The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 4-1/4 percent.
Financial markets expect the Fed to trim interest rates a quarter point this afternoon, but many investors are hoping for a half-point cut.
The U.S. economy is in the danger zone and one good shock could send it into recession next year, according to Global Insights, which released its top 10 predictions for 2008 Tuesday.The Boston-based forecasting company said GDP growth in the fourth quarter of 2007 and first half of 2008 is expected to be very weak, and will make the United States extremely vulnerable.
Wall Street widely expects the Fed to cut interest rates Tuesday. Here are some of the factors policymakers will be considering
The global hiring outlook for the first quarter of 2008 remains healthy despite a slightly softer jobs forecast for the United States, a quarterly survey by Manpower Inc, one of the world's largest employment services companies, showed Tuesday.
A lot has changed since the Federal Reserve hinted two months ago that it might be finished cutting interest rates for a while.
Treasury Secretary Henry Paulson defended the Bush administration's subprime mortgage plan, telling CNBC that it is not a federal bailout.
Employers added 94,000 jobs in November, but a slowdown in recent months fueled speculation of a modest rate cut next week.