NEW YORK— Banks were pummeled Friday after weak economic data raised doubts about the timing of a possible interest rate hike by the Federal reserve. Fed Chair Janet Yellen has said that the job market has almost recovered. Shortly after the jobs report came out, Citi Research analyst Keith Horowitz wrote that he expects JPMorgan Chase's earnings to slip as much...» Read More
The dollar tumbled to a record low against the euro Wednesday as doubts grew about the long-term impact of recent Federal Reserve efforts to pump money into cash-starved credit markets.
U.S. stock index futures pointed to a broadly flat open for Wall Street Wednesday, following the previous session's huge rally, as investor enthusiasm at the prospect of more liquidity and looser collateral rules by the Federal Reserve started to dwindle.
If investor Jim Rogers woke up as Ben Bernanke, he'd quit and close up the Federal Reserve for providing 'socialism for the rich,' he told CNBC Europe.
Australia's trade deficit ballooned 41 percent in January as strong domestic demand sucked in imports while bad weather and supply bottlenecks crimped export growth.
China's retail sales grew by 20.2 percent in January and February from a year earlier, supported by strong consumer spending but also propped up by the highest inflation in nearly 12 years.
Opposition lawmakers vetoed the Japanese government's pick for central bank governor on Wednesday, leaving the Bank of Japan in the middle of the global credit crisis with no successor to Governor Toshihiko Fukui one week before he retires.
The dollar rose sharply Tuesday after the Federal Reserve announced new measures to inject liquidity into the financial system, easing concern about a deepening credit crisis and a U.S. recession.
The U.S. economy could start to see a recovery as soon as April, despite current conditions indicating a greater risk for contraction, a senior U.S. Treasury official told CNBC Europe Tuesday.
China's consumer inflation jumped in February to an 11-year high of 8.7 percent, presenting Beijing's stability-conscious leaders with a big economic headache in the run-up to the Olympic Games.
Recession or not, the economy is definitely in a significant slowdown. This poses a daunting challenge for the Republican Party. Not only could it make Senator McCain’s election tougher, but it’s going to affect House and Senate races as well.
The dollar tumbled against the yen Monday as fears of a U.S. recession hit stock prices but steadied versus the euro after Europe's top monetary official said he was worried about recent exchange rate moves.
Last week, the dollar fell to new lows. Looking back at the past 30 years, the dollar seem to be moving in pattern with its historical cycles. So should we be concerned? Here is a look at how the weaker dollar relates to other economic indicators.
U.S. wholesale inventories rose 0.8 percent in January, while sales leapt 2.7 percent, thelargest increase in nearly four years, the Commerce Department said.
An emergency interest rate cut from the Federal Reserve is possible ahead of its March 18th policy meeting, according to a Goldman Sachs research note on Monday.
Japanese Prime Minister Yasuo Fukuda on Monday said the government had no plans to put forward a different candidate for the next central bank chief, despite resistance from opposition parties towards current nominee Toshiro Muto.
A second straight month of job losses all but ended the debate over whether the U.S. economy has slipped into recession. Now the question is how to get out.
The Federal Reserve needs to take a more active role in stemming the housing crisis, possibly by exchanging Treasury notes for mortgage notes, Pimco Bonds Chief Information Officer Bill Gross said on CNBC.
The dollar rebounded from record lows triggered by a surprise contraction in U.S. payrolls for a second straight month as attention shifted to moves by the Federal Reserve to ease tight liquidity conditions.
U.S. employers cut payrolls for a second straight month during February, slashing 63,000 jobs for the biggest monthly job decline in nearly five years.
Central bankers from the world's industrialised and developing regions voiced concern on Friday over surging food and energy prices, their latest big challenge as globalisation unsettles the balance of supply and demand.