The Obama team has to project competence, confidence and commitment to swift, decisive action when it assumes office.
U.S. President-elect Barack Obama may consider delaying a campaign promise to roll back tax cuts on high-income Americans as he works on a huge stimulus plan to counter the worst economic crisis the world has faced in decades.
Many financial assets across the world are looking cheap after the market ructions of the past year but investors in general have yet to rediscover the impulse to buy.
President-elect Barack Obama will announce the leaders of his economic team Monday, naming Timothy Geithner as treasury secretary and Lawrence Summers to direct the National Economic Council, transition officials said.
U.S. President George W. Bush, Chinese President Hu Jintao, Japanese Prime Minister Taro Aso and other members of the 21-nation Asia-Pacific Economic Cooperation group, or APEC, said they would refrain from raising trade barriers over the next 12 months.
U.S. President-elect Barack Obama said Saturday he was crafting an aggressive two-year stimulus plan to revive the economy, warning that swift action was needed to prevent a deep slump.
Chaos reigns Friday: Lame-duck White House and Congress are unable to reach a decision on the financial crisis. Yet Citigroup stock inched up, despite misgivings over the CEO's determination not to break up the firm. And while legislators dither over the jet-setting Big 3 automakers' fates, one strategist told CNBC that Ford Motor stock could yet quadruple overnight. (You read that correctly.)
As the Dow opened to the upside on Friday, Jack Welch, former General Electric chairman & CEO, shared his insights on Detroit, the economy and Wal-Mart's new CEO.
The Big 3 U.S. automakers may have reached a bailout compromise Thursday — or not. Citigroup shares hover near $5, even after mega-investor Saudi Prince Alwaleed bin Talal said he'd boost his Citi stake to 5 percent. Strategists told CNBC to expect more volatility — and no bottom for months yet.
First the good news. It looks like inflation is under control. Now the bad news…
Stocks plunged to a more than five-year low amid worries about the fate of the auto industry — and the economy — as a bailout for the sector grows increasingly unlikely.
Cuts to interest rates may not be enough in and of themselves to boost the economy, Pimco's Bill Gross said on Wednesday.
Below are the minutes released by the Federal Open Market Committee after its Oct. 28-29 meeting:
Stocks declined Tuesday amid worries about the fate of the auto industry as a bailout grows increasingly unlikely.
Things look worse for GM, Ford and Chrysler Wednesday as Congress seems less likely to approve a $25 billion automaker bailout. Stocks slipped — but some analysts say that slide had little to do with the Big 3. CNBC canvassed the experts, who foresee plunging oil prices, a stronger dollar — and say the market has already bottomed (!).
Stocks opened mixed Tuesday as a pop in commodities and sharp drop in consumer prices briefly offset worries that Congress won't bail out auto makers.
The Consumer Price Index had its biggest one month drop ever. Here is a breakdown of the inflation benchmark to show you where costs are falling most.
Stock index futures pared their losses Tuesday after a report showed consumer prices posted their biggest decline in 61 years.
On Tuesday, U.S. legislators heard testimony from Treasury Secretary Hank Paulson and Fed Chairman Ben Bernanke, the TARP bailout seems to ire everyone — and few can agree what to do with the Big 3 automakers. CNBC's experts offered their views on the economy — and actually found reason for investor hope.