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Federal Budget (U.S.)

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  • Falling Home Prices Pose Major Risk: Greenspan Tuesday, 6 Nov 2007 | 4:23 AM ET
    On his last day as chairman of the Board of Governors of the Federal Reserve System, Alan Greenspan smiles as he presides over his final Federal Open Market Committee meeting at the the Fed's headquarters in Washington, Tuesday, Jan. 31, 2006. He is speaking to Deborah J. Danker, at left, special assistant to the board, with Vice Chairman Roger W. Ferguson Jr., at right. Greenspan has held the post for more than 18 years and is widely viewed as the most successful chairman in the Fed's 92-year h

    Former Federal Reserve Chairman Alan Greenspan said on Tuesday that falling U.S. home prices and high inventories of unsold properties presented a major risk to the U.S. economy and financial markets.

  • Dollar Edges Up vs. Euro on U.S. Services Data Monday, 5 Nov 2007 | 12:31 PM ET
    Dollar and Euro

    The dollar edged up Monday against the euro in European trading, helped by better-than-expected growth in the U.S. services sector.

  • Dollar Hits Record Low as Financial Stocks Drop Friday, 2 Nov 2007 | 4:29 PM ET
    Dollar and Euro

    The dollar sank to record lows against the euro and a major currency basket on Friday, as persistent worries about unreported losses at financial firms overshadowed a strong U.S. payrolls report.

  • Investors Wary of What Jobs Report Will Bring Friday, 2 Nov 2007 | 8:07 AM ET
    Help Wanted Sign

    After Thursday's huge selloff in the stock market, investors are now turning their attention to the October jobs report.

  • Dollar Down vs. Yen, Up vs. Euro on Mixed Views Thursday, 1 Nov 2007 | 4:44 PM ET
    Dollar and Yen

    The yen rose broadly Thursday after brokerages downgraded two of the largest U.S. banks, knocking equities lower and sparking fears that fallout from the credit crisis may sap investor appetite for risk.

  • Behind Market Selloff: Fed Won't Bail Out Investors Thursday, 1 Nov 2007 | 4:42 PM ET

    If the Fed isn't going to cut  rates any more, that means bad news really is ... bad news. And with continuing concerns about the financial sector and oil prices, there is plenty of bad news.

  • Fed Pumps $41 Billion Into Financial System Thursday, 1 Nov 2007 | 1:09 PM ET

    The Federal Reserve pumped $41 billion into the U.S. financial system Thursday, one of its largest cash infusions to help companies get through a credit crunch that took a turn for the worse in August.

  • Uh Oh--Are Consumers Starting to Rein In Spending? Thursday, 1 Nov 2007 | 12:00 PM ET
    Shoppers in a toy aisle at a Target store.

    The mighty U.S. consumer may be starting to crack, just as the Federal Reserve signaled that it was through with interest rate cuts barring a sharper economic downturn.

  • Income, Spending Rise; Jobless Claims Fall Thursday, 1 Nov 2007 | 10:53 AM ET

    Personal incomes and core consumer prices increased slowly in September, but the number of U.S. workers filing new claims for jobless aid fell by a more-than-expected 6,000 last week.

  • Fed Cuts Rates But Hints Against Further Easing Wednesday, 31 Oct 2007 | 4:28 PM ET
    Ben Bernanke, President Bush's top economic adviser, speaks in the Oval Office at the White House after Bush named him to take over the Federal Reserve from retiring Alan Greenspan, in Washington, Monday, Oct. 24, 2005. It was the third time in as many years the president has turned to the 51-year-old Bernanke for a sensitive post. Bush named him to the Fed board in 2002, then made him chairman of the president's Council of Economic Advisers earlier this year. (AP Photo/J. Scott Applewhite)

    The Federal Reserve, moving to head off the threat of a recession, cut two key interest rates by a quarter-point but signaled that it may be done easing rates for now.

  • Dollar Hits Record Low After Rate Cut Wednesday, 31 Oct 2007 | 2:57 PM ET
    Dollar and Euro

    The dollar  fell to a record low against the euro after the Federal Reserve cut its benchmark interest rate by a quarter-percentage point and said the pace of economic growth will slow this year.

  • Economy Strong Despite Battered Housing Sector Wednesday, 31 Oct 2007 | 2:42 PM ET
    Credit card swipe

    The U.S. economy grew at a surprisingly brisk clip in the third quarter as both consumer spending and exports showed strength despite a battered housing sector.

  • Federal Open Market Committee Statement Wednesday, 31 Oct 2007 | 2:16 PM ET

    The statement released by the Federal Open Market Committee after its October 30 & 31 meeting on interest rate policy.

  • Will the Fed Give Investors A Trick or a Treat? Wednesday, 31 Oct 2007 | 1:17 PM ET

    The Federal Reserve is still expected to lower benchmark borrowing costs later today despite unexpected signs of strength in the economy.

  • As Fed Meets, Markets Still Count On Interest-Rate Cut Tuesday, 30 Oct 2007 | 4:46 PM ET

    Fed policy-makers began meeting as financial markets continued to bet that the central bank will cut interest rates to shore up the faltering housing and credit markets.

  • Dollar Drops to Another Record Low Ahead of Fed Tuesday, 30 Oct 2007 | 4:00 PM ET
    Exchanging Dollars and Euros

    The dollar fell to a record low against the euro for the third consecutive session on Tuesday, a day ahead of the outcome of a Federal Reserve meeting at which an interest rate cut is expected.

  • U.S. Is Committed to Strong Dollar: Paulson Tuesday, 30 Oct 2007 | 6:45 AM ET

    The United States is strongly committed to a strong U.S. dollar and financial markets there are recovering from the subprime loan crisis even if the housing market has yet to touch bottom, U.S. Treasury Secretary Henry Paulson said on Tuesday.

  • Fed Expected to Cut Rates To Head Off Recession Tuesday, 30 Oct 2007 | 5:07 AM ET
    Ben Bernanke

    The Federal Reserve is expected to lower interest rates again this week as insurance against the threat that declining home prices and higher borrowing costs will push the economy into recession.

  • Fed Rate Cut Not Sure Thing: WSJ Tuesday, 30 Oct 2007 | 5:01 AM ET

    A Federal Reserve interest rate cut this week is no sure thing and officials are not seriously considering a half-point reduction in overnight rates, the Wall Street Journal reported on Tuesday without citing sources.

  • Dollar Sinks to New Lows on Fed Rate Cut Hopes Monday, 29 Oct 2007 | 2:18 PM ET
    Exchanging Dollars and Euros

    The dollar sank to another record against the euro on Monday, trading at as much as $1.44 against the 13-nation currency for the first time, as markets anticipated a likely interest rate cut by the U.S. Federal Reserve this week.