The Federal Reserve is unlikely to cut interest rates before its next scheduled meeting in late January but may consider doing so if the outlook deteriorates sharply before then, the Wall Street Journal reported on Monday.
The U.S. trade deficit in November surged to the highest level in 14 months, reflecting record imports of foreign oil. The deficit with China declined slightly while the weak dollar boosted exports to another record high.
Bernanke said he "stands ready to take substantive additional action" to help the economy, implying the Fed would cut interest rates. Stocks briefly rallied on that, then fell back. What really got stocks going was talk that there might finally be signs of a bottom.
Fed Chairman Ben Bernanke said the central bank was ready to cut interest rates again to prevent housing and credit problems from plunging the U.S. into a recession.
As the Journal announced that Bank of America was in advanced talks to buy Countrywide, thrifts have shot up: Countrywide up 52 percent, Washington Mutual up 9 percent, Downey up 6 percent.
The betting is no longer on whether there's a half point rate cut coming, it's when, and how much more will follow. Fed Chairman Ben Bernanke was surprisingly blunt in much anticipated comments today. He made it clear the Fed will take action to stop economic decline and it will be aggressive.
When central bankers speak, markets listen. That's why we're all waiting for Fed Chairman Ben Bernanke's comments on the economy at 1 p.m. today. But it looks like European Central Bank President Jean-Claude Trichet beat him to the punch.
Consumer spending didn't slow down that much but apparently consumer bill paying has. Look at Capital One. The company is taking a $1.9 billion provision for loan losses in the fourth quarter and cut its full year profit forecast by more than 20 percent, blaming rising consumer loan losses and higher legal reserves.
Inventories at U.S. wholesalers rose 0.6 percent in November, but they did not keep pace with sales, which saw the biggest monthly increase in more than two years on rising petroleum prices, the government reported Thursday.
Unless you’ve been living under a rock, you know that recent data suggests the economy could be falling into recession. What can you expect from Ben Bernanke’s speech, Thursday?
Finally, an oversold rally; the Dow moved 225 points the last 90 minutes. It was the first close at the highs for the year; financials led, but beaten up groups like airlines also posted a nice rally. Defense stocks rallied as well.
The stock market may be the deciding factor in whether the U.S. economy tips into a consumer-driven recession this year.
Fed officials from opposite ends of the ideological spectrum had a similar message Tuesday -- that further rate cuts could lie ahead.
Treasury Secretary Henry Paulson discusses the dollar, the housing market, China and fly-fishing with the Squawk Box news team.
The situation's dire, but Bernanke still doesn't get it, Cramer says.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
A worse-than-expected report on December job growth fueled worries about a U.S. recession but also heightened speculation of more interest-rate cuts.
Hiring practically stalled in December, driving the nation's unemployment rate up to a two-year high of 5 percent and fanning fears of a recession.
The Federal Reserve announced Friday that it is increasing the amount of money available to banks through a new auction process, one of the main ways it is combatting a severe credit squeeze. The Fed again pledged to continue with the auctions "for as long as necessary."
The drag on the U.S. economy from a deep housing slump should ease by mid-year, paving the way for stronger economic growth, a top White House adviser told CNBC.