Fed interest rate hikes may not be as far off as investors believe, Kansas City Fed President Esther George told CNBC.» Read More
If Congress fails to raise the debt ceiling, the Treasury Secretary will have to figure out how to make due with a third less in government funds.
Where would we be without China? Many in the commodities industry have questioned. But it has particular resonance for gold. The FT reports.
Damage from a default would be more than bad PR—it could affect everyone from bankers to pensioners to holders of money market funds.
Growth in the U.S. services sector cooled last month after approaching an eight-year high in August as the pace of new orders dipped and hiring slowed.
The Treasury is warning that the economy could plunge into a downturn worse than the Great Recession if the country defaults on its debt obligations.
Though revenues and the economic outlook have improved for all 50 states, the financial picture for municipalities remains mixed.
The number of Americans filing new claims for jobless benefits remained at pre-recession levels, a signal of growing strength in the labor market.
The number of planned layoffs at U.S. firms fell 20 percent in September, even as cuts in the health-care sector more than doubled from the prior month, a report on Thursday showed.
Wall Street needs to be genuinely worried about what is going on in Washington, President Barack Obama told CNBC.
Private sector job creation came in lighter than expected in September but remained essentially in the same slow-but-steady growth range.
The federal government shutdown is already affecting contractors and threatens to dampen private-sector employment, at least in the near-term.
The managing director of Pimco had correctly predicted in September that the bond market was overestimating the possibility of tapering.
The government shutdown probably puts an end to the idea that the Fed will taper this month. The BLS won't be supply inflation or employment numbers.
According to the former representative, both parties are "trying to bamboozle the American people."
The former president of the European Central Bank also told CNBC the shutdown signals "enormous difficulty" for the nation's democratic processes.
The cost of insuring one-year U.S. bonds against default rose above the rate of insuring five-year debt for the first time since July 2011.
"This shutdown is bad. It's painful. [But] we hit this debt ceiling. That's catastrophic," Erskine Bowles tells CNBC.
The manufacturing sector last month expanded at its fastest pace in almost 2-1/2 years while firms added the most workers in 15 months.
Stock market traders and investors don't believe the upcoming fight over the debt ceiling will result in a U.S. default, value investor Bill Miller told CNBC.
Stocks would likely sell off if Congress shuts down the government, but the real turbulence begin if the closure does not end swiftly.
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