Citing lower-than-expected corporate taxes, the CBO projected a slight increase over previous budget deficit estimations.» Read More
Federal Reserve Chairman Ben Bernanke is under intense pressure to signal a rate cut when he takes center stage Friday at a gathering of central bankers in Jackson Hole, Wyoming.
Strong business investment and higher exports drove the U.S. economy ahead at a robust 4 percent annual rate in the second quarter before turmoil in credit markets struck that is expected to brake growth ahead.
The U.S. Federal Reserve is not rushing to cut benchmark interest rates because it wants to break investors of the view that the central bank is there to bail them out, an article in the Wall Street Journal said on Thursday.
CEOs, politicians and economists are bringing up the "R" word these days. And nearly all of them have a simple solution: the Fed should cut interest rates--and soon.
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Fed policymakers in early August acknowledged they might have to ease a growing credit crunch but hoped for "more normal market conditions" without intervention.
U.S. consumer confidence deteriorated in August to its lowest in a year on concerns about a softening labor market and market turmoil stemming from the subprime mortgage crisis, a business research group said on Tuesday.
Economic confidence among U.S. small business owners fell in August as a slowing housing market soured sentiment, and 41 percent said they had recent cash flow troubles, according to a survey released Monday.
The risk of massive defaults on subprime mortgages and heavy debts now poses a bigger threat to U.S. economic prosperity than terrorism, a panel of U.S. business economists said on Monday.
Job losses in the U.S. construction sector could top one million if a housing downturntips the economy into recession and tighter access to credit dampens business investment.Strength in nonresidential construction may continue to offset a downturn in housing for now, but recent turmoil in credit markets suggests job losses may accelerate in the sectorin the next few months.
Subprime-battered mortgage lenders are shutting down, fewer homes are being built, and even some of the big U.S. retailers are planning conservatively for Christmas holiday sales.
New orders for long-lasting U.S.-made manufactured goods surged a much bigger-than-expected 5.9 percent in July, the biggest gain since September, and a business investment gauge posted the first gain in three months, a Commerce Department report showed on Friday.
The number of U.S. workers filing new claims for jobless aid fell 2,000 last week, government data Thursday showed, while the number of people still collecting benefits rose to its highest since April.
The U.S. government posted a $36.32 billion budget deficit in July, a 9.5 percent increase from the deficit of $33.16 billion recorded a year earlier in July 2006, the Treasury Department said on Friday.
After a first quarter swoon, business is more upbeat about the current quarter and the rest of the year--especially when it comes to hiring, profits and productivity, the latest survey by the National Association for Business Economics shows.
Many lawmakers, along with advocates for low-wage workers, are celebrating the first increase in the federal minimum wage in a decade. Yet many acknowledge that raising it from $5.15 an hour to $5.85 will provide only meager help for some of the lowest paid workers.
As he struggles with record-low approval ratings and criticism over the Iraq war, Bush was eager to tout what he viewed as a success for his domestic record and credited his tax cuts with reducing the budget gap.
Congress gave final approval to a $2.9 trillion budget plan that promises big spending increases for education and health care and a federal surplus in five years.
Democrats controlling Congress presented a $2.9 trillion budget blueprint, ensuring a confrontation with President Bush over spending boosts for education and other domestic programs.
New York Senator and presidential candidate Hillary Clinton told CNBC that this week's market turmoil "should be a real wake-up call for our country" on its foreign debt and fiscal policy.