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From long delays at the nation's airports to huge potential layoffs of government workers, Americans may soon feel the pinch of austerity. The Financial Times reports.
President Barack Obama told fellow Democrats on Thursday he is willing to agree to a "big deal" with Congress on spending cuts and tax reforms to end the fiscal uncertainty over the deficit.
Many top U.S. retailers reported strong January sales after offering compelling merchandise that drew in shoppers facing a hit to their take-home pay from higher payroll taxes.
Economic activity in the euro area will remain weak in early 2013 before gradually recovering later in the year, European Central Bank (ECB) President Mario Draghi said on Thursday.
The Fed has the appropriate policies in place right now and will remain accommodative until the economy improves, Chicago Fed President Charles Evans told CNBC.
Nonfarm productivity fell in the fourth quarter by the most in nearly two years as output increased marginally while weekly unemployment aid applications fall to 366,000, indicating steady but modest hiring.
The automatic across-the-board spending cut measure set to take effect next month is "terrible, terrible" piece of legislation, Robert Rubin, former Clinton Treasury Secretary, told CNBC.
Forget about statistics for employment and industrial production, it is being claimed that the price of a hamburger is showing where Europe's economic reforms are working - and where they are not.
India's growth estimates for the current fiscal year came as a shock to many who were hoping for a turnaround in Asia's third largest economy, with one expert calling the likely 5 percent annual expansion a "horror show".
The U.S. economy could take a big hit from automatic government spending cuts even if Congress only leaves them in place for a month or two.
A deficit reduction package to preserve short term economic growth by delaying the most aggressive measures would a no-go for the markets, the private sector and politicians, business leaders told CNBC on Wednesday.
Long-term unemployed in the U.S are having an easier time finding jobs — and the problem of long-term joblessness may disappear in the months ahead.
The current scandal surrounding Spanish Prime Minister Mariano Rajoy will not disappear any time soon and investors should expect ongoing volatility, according to the European research team at one of the world's largest banks.
As the housing market imploded, the gallows humor at S&P intensified. The New York Times reports.
U.S. home prices are suddenly soaring again and raising some serious red flags.
It's time for the Fed to do less to prop up the recovery and jobs creation, argues this academic.
Consumers have been spending more on gasoline than they have in nearly three decades.
U.S. factory orders increased in December even though companies trimmed their orders for goods that signal investment plans. The Commerce Department said factory orders rose 1.8 percent compared to November, when orders had fallen 0.3 percent.
Risks to Spain's economy and financial sector remain elevated as it undergoes a difficult process of fiscal and external adjustment, the IMF reported Monday.
A rough couple of months in the U.S. bond market has lifted interest rates off record lows and now could impede a slow economic recovery heavily dependent on cheap money to keep going.