San Francisco Federal Reserve Bank President Janet Yellen said Tuesday the current level of U.S. interest rates should boost the economy in the second half of 2008.
The U.S. economy will barely expand in the second quarter and the chances of it shrinking have risen, following sluggish growth early in the year, said a Philadelphia Federal Reserve survey released Tuesday.
ECB policymaker Christian Noyer said on Tuesday that an explosive mix of soaring commodity prices and "permissive" monetary policy in some countries with dollar pegs could trigger an inflationary spiral which would hurt poor nations most.
Retail sales weakened modestly in April, but outside the hard-pressed auto sector they showed more resiliency than anticipated.
U.S. Federal Reserve Chairman Ben Bernanke said the credit crisis is not over, even as his colleagues revealed growing concerns about inflation that could signal a pause in interest rate cuts.
Cleveland Federal Reserve Bank President Sandra Pianalto said on Tuesday that although core U.S. price measures were climbing faster than she wanted, Fed monetary policy was compatible with low inflation.
Soaring food and fuel bills pushed up Britain's inflation rate by its biggest amount in nearly six years, further denting expectations of interest rate cuts despite a slowing economy.
UK housing sentiment slumped to record lows in April, underscoring continued weakness in the sector and piling pressure on the Bank of England at a time when snowballing inflation could force it to keep interest rates on hold.
Monday, 12 May 2008 | Source: Reuters
JPMorgan Chase Chairman and Chief Executive Jamie Dimon Monday told bank investors that while the current credit market crunch may soon be over, the U.S. economy could still face a deep and extended recession
Monday, 12 May 2008 | Source: Reuters
Chicago Federal Reserve Bank President Charles Evans said that U.S. interest rates are "accommodative" and at the right level given a weak growth outlook, but then indicated that the Fed could still be open to cutting rates further.
Monday, 12 May 2008 | Source: AFX
It's a busy week on the economic calendar, with the consumer price index, data on housing starts and the Philly Fed index all expected.
Friday, 9 May 2008 | Source: Reuters
The White House Friday set out terms for a possible deal on a housing market rescue plan, as a sweeping package backed by the House was on its way to an uncertain greeting in the Senate
Friday, 9 May 2008 | Source: Reuters
General Electric's decision this week to no longer lend consumers money to buy motorhomes and boats was more bad news for the recreational vehicle and boat industry.
Thursday, 8 May 2008 |
Posted By:
Albert Bozzo |
Source: CNBC.com
“We're of the opinion that the market has likely seen the worst,” says Standard & Poor’s Chief Investment Strategist Sam Stovall. He's not alone.
Thursday, 8 May 2008 | Source: CNBC.com
Oil prices have soared nearly 10 percent in the past four sessions alone, and CNBC asked the experts for insights and answers.