The Bank of England has an open mind on the need to pump more newly-printed money into the economy, Governor Mervyn King said on Wednesday, after the central bank forecast below target inflation.
China sent its clearest signal yet it was ready to let its currency rise, saying it would consider major currencies, not just the dollar, in guiding exchange rates.
U.S. Treasury Secretary Timothy Geithner said on Wednesday he believes strongly in the need to maintain a strong dollar and said the United States was determined to get its budget deficit down.
High unemployment and reluctant consumers will likely make a choppy U.S. economic recovery, top Federal Reserve officials said in a string of speeches across the country.
The United States is in a "good place" with inflation, but it is too soon to say when the Federal Reserve will raise interest rates, a top Fed official said on Tuesday.
U.S. Senate Banking Committee Chairman Christopher Dodd hopes to confirm Federal Reserve Chairman Ben Bernanke for a second term as chairman by Christmas, a spokeswoman for the panel said on Tuesday.
President of the Federal Reserve Bank of San Francisco, Janet Yellen said Tuesday that the U.S. economic recovery still faces many hurdles, including a persistently weak labor market and strained household budgets.
Unemployment will shoot to 10.5 percent by the middle of next year, constraining the Federal Reserve's ability to raise interest rates, according to a Reuters poll.
Tuesday, 10 Nov 2009 | Posted By:
Robin Knight | Source: CNBC.com
If Asia's loose monetary policy is left unaddressed it will ultimately blow a bubble of "mind-boggling size" that could become uncontrollable without fiscal tightening, Frederic Neumann, economist at HSBC, told CNBC Tuesday.
The U.S. economy could face a double-dip recession next year, in the absence of stimulus measures and extended incentive programs, Kirby Daley, senior strategist at Newedge Group, said Monday.
The Federal Reserve could remove some of the extraordinary support it has extended to the U.S. economy once the recovery looks solid and monthly job growth has returned, a top U.S. central bank official told the Financial Times.
The dollar fell to a 15-month low against a basket of major currencies Monday and the euro rose above $1.50 after the Group of 20 pledged to keep emergency stimulus spending in place until a global recovery is assured.
Friday, 6 Nov 2009 | Posted By:
Joseph Pisani | Source: CNBC.com
A new report, released by employment Web site CareerBuilder.com, ranked the top metro areas with the most job postings on the site between January and October 2009.
FHA: "Bailout Doesn't Apply." Those are not my words, but the words of HUD Secretary Shaun Donovan toward the end of a lengthy explainer on the FHA's annual actuarial report, released this morning... Read More
I'm back on the foreclosure bandwagon again, especially after getting the Treasury's Home Affordable Modification Program status report this morning, and its glaring omission of any information as to how many borrowers are actually keeping up with the payments on their trial modifications... Read More
While we all worry so much about the auto industry, I find it astounding that we don't pay all that much attention to the battered industries behind the battered housing market.... Read More
While the Realtors and Home Builders and Mortgage Bankers all bask in the glow of the home buyer tax credit extension/expansion, we all need to turn our attention to the real drag on a housing recovery: Foreclosures... Read More