The Fed may have to get even more aggressive if its efforts to tighten aren't reflected in short-term rates, he said.» Read More
The government has a "spending problem" and that needs to change, former House Majority Leader Richard Gephardt told CNBC.
How politicians even explain the way the government spends money depends on what party they belong to and whether that party holds the White House or Congress.
Despite big earnings gains from the big public builders, overall confidence among the nation's home builders took a pause in January.
U.S. factory production rose in December for the second straight month, buoyed by more output of autos, electronics and business equipment. Total industrial production beat analysts' expectations.
U.S. consumer prices were flat in December, pointing to muted inflation pressures that should help give the Federal Reserve room to prop up the economy by staying on its ultra-easy monetary policy path.
Applications for U.S. home mortgages rose for a second straight week following three weeks of declines, data from an industry group showed on Wednesday.
Europeans' appetite for turkeys and Christmas getaways pushed up the cost of living in the euro zone in December, but the European Central Bank expects the rate of inflation to cool this year.
As southern euro zone countries groan under the weight of austerity measures, the Baltic country Latvia has been so enthusiastic and seemingly successful in its application of austerity measures that even the International Monetary Fund (IMF) has warned Latvia to not go too far.
China's growth is expected to have re-accelerated to near 8 percent in the fourth quarter of last year, but there are some troubling inconsistencies in the economy, according to the China Beige Book released on Wednesday.
The House of Representatives on Tuesday approved $50.5 billion in long-delayed federal disaster aid to victims of Superstorm Sandy, but not before Republicans flexed their budget-cutting muscle to strike some spending provisions.
A frustratingly slow economic recovery in developed nations is holding back the global economy, the World Bank said on Tuesday, as it sharply cut its outlook for world growth in 2013.
Business inventories rose modestly in November as sales rose solidly, backing views restocking will not support economic growth in the fourth quarter.
Retail sales rose more than expected in December while wholesale prices remained low, suggesting inflation is in check.
Failure to raise the debt ceiling within a "timely" manner would see the United States' sovereign ratings put under formal review with "highly uncertain" consequences, rating agency Fitch warned U.S. policymakers Tuesday.
American credit card holders in their late 20s and early 30s have more debt than older consumers, repay it more slowly and risk dying in debt if they don't curb their spending habits.
Gloomy economic diktats and predicting the financial crisis have earned economist Nouriel Roubini the title Dr. Doom, but in his latest interview the economics professor said the United States had little to fear, despite ongoing fiscal negotiations and the looming debt ceiling.
The number of U.S. families struggling with poverty despite parents being employed continued to grow in 2011 as more people returned to work but mostly at lower-paying service jobs.
The sting from higher taxes in your first 2013 paycheck is also going to sting the economy this year, particularly in the first quarter.
There will be a four-year struggle to rein in President Barack Obama's crazy spending, tax advocate Grover Norquist told CNBC's "Squawk on the Street" on Monday.
Obama lists lots of things will have to be cut if the debt ceiling isn't lifted. But payments on government bonds aren't one of them.