An index that hints at the outlook for the U.S. economy rose modestly in August but fell short of Wall Street expectations.» Read More
"It's not a question of whether you have bullets, but that people think he has bullets," says one economist, referring to the famous scene in the Clint Eastwood cop drama, 'Dirty Harry.'
After two dreadful years, including a $4 billion loss in 2009, 2010 will should solid profits, starting with second-quarter earnings due out next week.
Robert Prechter is convinced that we have entered a market decline of staggering proportions, perhaps the biggest of the last 300 years, the NY Times reports.
At 5.06am lawmakers voted to name the financial reform bill after Barney Frank and Chris Dodd, the chairmen of the House financial services and Senate banking committees.
Despite the recent financial crisis that brought the U.S. economy to its knees, Americans should trust the private sector, not the government, if they want a lasting jobs recovery, Michael Steele, Republican National Committee, told CNBC Tuesday.
Republican Sen. Bob Corker tells CNBC that he's prepared to improve the sweeping reform bill but probably won't vote for it just the same.
A draft version of the House-Senate compromise bill on financial reform contains 12 major sections and offers a broad idea of where legislators are headed.
With Senate and House conferees set to begin drafting a compromise bill on sweeping financial reform, the proposed remedy for too-big-to fail firms appears to be far too little for more than a few legislators.
The startling slowdown in May job growth may not be as surprising as it seems. Small business—long the jobs engine of the economy—still faces big obstacles.
Even if Friday's jobs report comes in as strong as forecast, don't expect any change in Fed policy. There's a new set of suspects: Europe, deflation, a housing double dip and the Gulf oil spill.
Though the Democratic leadership likes to emphasize the similarities between the House and Senate bills on sweeping financial reform, the upcoming conference to merge the two has the potential to be both fractious and divisive with a number of minefields to cross.
The chief regulator overseeing Fannie Mae and Freddie Mac will tell Congress later Wednesday that the mortgage giants have cut their risk exposure but will continue to sustain significant losses.
With major housing finance reform unlikely until 2011, little can be done to stop the massive losses at mortgage giants Fannie Mae and Freddie Mac, but these small fixes can't hurt.
“This is the really compelling issue for most Americans," says the head of a consumer group. " We just had our financial lives wrecked by the financial crisis and picked up the tab for it."
Simpson said, "A lot of blood hair and eyeballs have to lay on the floor before we finish. There's going to be anguishing. This is a suicide mission". It will come from all sides, the left and the right.
Monetary policy will be a hot topic at conference, where participants will no doubt be debating who first, how much and when.
Criticized from every angle imaginable for getting Nebraska out of paying for additional Medicaid in return for his (60th) vote to get the health reform bill through the Senate, Senator Nelson asked Senator Harry Reid of Nevada, the Majority Leader, to remove a special provision in the health care legislation that would have the Federal government pay all Nebraska's costs for the proposed extension.
“We haven't just gone through a business cycle, we've also gone through a major restructuring of the American economy," says a labor economist. “ This is an awful lot to adjust to.”
The economy will continue to grow over the next few years, though unemployment will remain high and inflation tame, so there's "no urgent need" for the Federal Reverse to change its low-interest rate policy, Chicago Fed President Charles Evans told CNBC
“There's all this frustration about the bailout, the money, the Fed being asleep at the switch too long, so it's coming out as Bernanke bashing,” says one Washington observer.
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