The U.S. economy contracted in the first quarter as it buckled under the weight of heavy snowfalls and a resurgent dollar, but activity has rebounded.» Read More
More than $1 billion has been wiped off earnings estimates for five Wall Street banks on fears of a decline in trading revenues. The FT reports.
Obama said his message to Congress is: Do not shut down the government, do not shut down the economy. He also said he spoke with Iran's president.
Lobbying for Larry Summers as Fed chairman should have happened earlier and been more aggressive, according to friends who spoke to CNBC.
U.S. consumers increased their spending last month as their income grew at the fastest pace in six months.
Consumer sentiment slid to its lowest in five months as consumers saw higher interest rates and sluggish economic growth ahead, a new survey showed.
"We are in the middle of an epic credit bubble...the likes of which I haven't seen in my career," said Blackstone's global head of private equity.
The Obama administration proposed a $300 million aid package to help Detroit demolish buildings, improvement transportation and bolster the police.
In 2011, debate raged in the markets over whether the Fed would embark on a third round of massive bond purchases. Pimco wasn't waiting to find out.
The Fed could start reducing its asset purchases this year based on economic forecasts but the decision could be pushed into next year, a top Fed official said on Friday.
The U.S. Federal Reserve has engineered a housing bubble to divert attention away from growing inequality in the country, according to Societe General strategist Albert Edwards.
The Obama administration has delayed by a month online sign-ups for federal small-business health-care exchanges, an administration official said.
The number of Americans filing new claims for jobless benefits fell last week to a near six-year low, while economic growth in the second quarter was unchanged at 2.5 percent.
House Speaker John Boehner urged his unruly caucus to show flexibility over a measure to keep the government open, a fellow Republican said.
Former Obama budget chief Peter Orszag told CNBC on Thursday he'd rather see a government shutdown than risk a default on the nation's debt.
Obamacare requires most Americans to obtain health insurance by 2014—and millions will be buying coverage from health insurance exchanges.
American sentiment has dipped back into its post-crisis financial funk, according to the latest CNBC All-America Economic Survey.
JPMorgan Chase is in talks with government officials to settle federal and state mortgage probes for $11 billion.
Secretary of the Treasury Jack Lew had a clear message for Republicans: Obama won't negotiate on debt.
Orders for long-lasting U.S. manufactured goods rose in August, signaling that the factory sector gained a step midway through the third quarter.