The Fed is cutting rates to bolster the economy and keep the credit crunch from getting worse. But in the process, the central bank is creating other problems--including higher inflation
The dollar extended losses against the euro and the yen Thursday after U.S. pending home sales were unchanged in January, doing little to allay investor worries over the deteriorating U.S. economic outlook.
Fewer workers applied for unemployment benefits last week, but the number remaining on jobless aid stood at the highest level in nearly two and a half years.
U.S. home foreclosures and the rate of homes entering the foreclosure process rose to record highs in the fourth quarter. Pending sales of previously owned homes were unchanged in January.
A stronger yuan can help temper price pressures but plays second fiddle to monetary policy in China's struggle against inflation, the country's central bank chief said on Thursday.
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.
The global credit crisis creates big downside risks to an already softening economy that require bold action from the U.S. central bank, Cleveland Federal Reserve President Sandra Pianalto said on Wednesday.
Federal Reserve districts all saw decelerating economic growth in early 2008, even as prices pressed upward almost everywhere, the central bank's "Beige Book" report on economic conditions said on Wednesday.
The full text of the Beige Book released by the Federal Reserve on March 5, 2008 and based on information collected on or before February 25, 2008.
By many measures, confidence in the dollar has never been lower, and some fear more Federal Reserve interest rate cuts will make matters worse by swelling inflation and undermining long-term U.S. economic health.
The dollar hit a fresh record low against the euro and a basket of currencies Wednesday, on renewed concerns about the health of the U.S. economy.
This is a timeline of the European Central Bank's rate decisions from 2007 to date.
Euro zone services growth staged a partial comeback in February, in line with an earlier estimate, though a sharp divide in growth rates within the bloc poses a problem for the European Central Bank.
If the words 'recession' and 'stagflation' hadn't added enough to the lexicon of economic doom and gloom in these days of woe, financial markets -- and more importantly the general public -- now have to contend with a new term: 'agflation'. That's agricultural price inflation to you and me.
Japanese corporate capital spending fell the most in five years, fourth-quarter figures showed, pointing to a sharp downward revision in growth and reinforcing expectations of a rate cut later this year.
China's Premier Wen Jiabao vowed on Wednesday to focus on fighting inflation, pollution and misgovernment as the nation readies for a year when it will be tested by the Olympic Games and global economic gloom.
Australia's economy expanded at its slowest pace in a year last quarter but only because strength in consumer and government spending was tempered by a big drag from the country's trade deficit.
Quarterly euro zone economic growth almost halved in the last three months of 2007 and prices at factory gates jumped in January, data showed, highlighting the diverging growth and inflation trends faced by the ECB.
The dollar turned higher against the yen on Tuesday as U.S. stocks trimmed losses late in the afternoon on talk of a bail-out for bond insurer Ambac.
The text of a speech by Federal Reserve Chairman Ben Bernanke on Reducing Preventable Mortgage Foreclosures given on March 4, 2008 in Orlando, Florida.