San Francisco Federal Reserve Bank President Janet Yellen said Tuesday the current level of U.S. interest rates should boost the economy in the second half of 2008.
China's most devastating earthquake in three decades killed more than 12,000 people with the toll likely to soar after state media said on Tuesday nearly 19,000 were buried under rubble in one city alone.
The U.S. economy will barely expand in the second quarter and the chances of it shrinking have risen, following sluggish growth early in the year, said a Philadelphia Federal Reserve survey released Tuesday.
ECB policymaker Christian Noyer said on Tuesday that an explosive mix of soaring commodity prices and "permissive" monetary policy in some countries with dollar pegs could trigger an inflationary spiral which would hurt poor nations most.
Retail sales weakened modestly in April, but outside the hard-pressed auto sector they showed more resiliency than anticipated.
Cleveland Federal Reserve Bank President Sandra Pianalto said on Tuesday that although core U.S. price measures were climbing faster than she wanted, Fed monetary policy was compatible with low inflation.
UK housing sentiment slumped to record lows in April, underscoring continued weakness in the sector and piling pressure on the Bank of England at a time when snowballing inflation could force it to keep interest rates on hold.
Soaring food and fuel bills pushed up Britain's inflation rate by its biggest amount in nearly six years, further denting expectations of interest rate cuts despite a slowing economy.
JPMorgan Chase Chairman and Chief Executive Jamie Dimon Monday told bank investors that while the current credit market crunch may soon be over, the U.S. economy could still face a deep and extended recession
The dollar rose versus the Japanese yen and Swiss franc Monday as investors snapped up riskier assets such as stocks, encouraged by a dip in oil prices and unexpectedly strong earnings from HSBC.
Chicago Federal Reserve Bank President Charles Evans said that U.S. interest rates are "accommodative" and at the right level given a weak growth outlook, but then indicated that the Fed could still be open to cutting rates further.
It's a busy week on the economic calendar, with the consumer price index, data on housing starts and the Philly Fed index all expected.
With increasing anxiety, the stock market is looking over its shoulder at the energy markets. Oil briefly topped $126 per barrel today, and as oil trades above $125, we wonder how much these high prices will spread out to affect the consumer, corporate profits, corporate spending and government spending.
A recent bear-market rally in Europe may be cut short next week, when stocks are likely to be dragged lower as investors balk at the rising price of oil and fears that the financial sector woes are not over, return to haunt the markets.
“We're of the opinion that the market has likely seen the worst,” says Standard & Poor’s Chief Investment Strategist Sam Stovall. He's not alone.
Oil prices have soared nearly 10 percent in the past four sessions alone, and CNBC asked the experts for insights and answers.
U.S. economist John Lipsky, who is the first deputy managing director of the IMF, is giving a speech today before the Council on Foreign Relations in New York that warns of the spread of global inflation.
The U.S. dollar pulled back from a two-month high against the euro after the European Central Bank left interest rates unchanged and its president's comments focused more on inflation than some had expected.
U.S. Treasury Secretary Henry Paulson said on Thursday tax rebates now being issued to Americans will immediately help consumers and bolster the economy by summer.
European shares ended slightly lower on Thursday, weighed by financials after the region's top two central banks kept rates on hold as expected and investors saw little to suggest euro zone borrowing costs would fall soon.