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Congress Federal Budget (U.S.)

  • Financial markets are widely expecting the Federal Reserve to cut interest rates today, but they may not get their wish. Take our Poll:

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    Don't expect the central bank to cut interest rates on Tuesday at its regularly scheduled FMOC meeting following the Lehman Brothers-Merrill Lynch-AIG developments, even though that's the action it took in March when Bear Stearns was on the ropes.

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    Attention Wall Street: Add the precipitous slowdown in consumer spending to the list of worries and reasons to think a recession is underway or imminent. 

  • The Federal Reserve headquarters in Washington, DC.

    The Fed may start considering  another interest rate cut at the end of this year or early 2009, which was widely considered out of the question a week ago.

  • Global financial leaders convened at an economic summit held at the University of Virginia to discuss the world's economic concerns. The conference tried to design a blueprint for how to solve some shared economic problems, such as the subprime mortgage crisis and rising fuel and food costs.

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    Despite a Fannie-Freddie takeover, a $168-billion stimulus measure, a housing rescue package and Fed rate cuts, the economy is still struggling.  Now what?

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    U.S. President Bush Wednesday signed into law a housing rescue plan passed by Congress as foreclosures rise and property values slump, including emergency backstop credits for the big mortgag elenders.

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    The surprising jump in August unemployment couldn't have come at a worse time for the already struggling housing market.

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    The unemployment rate zoomed to a five-year high of  6.1 percent in August, proof of the mounting damage the economy is inflicting on workers and businesses alike.

  • The following is the full text of the Beige Book released by the Federal Reserve on September 3, 2008 and based on information collected on or before August 25, 2008:

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    Little attention has been paid to what a recession and spike in unemployment would do to an already battered  housing market.

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    The head of the European Central Bank should be running the Federal Reserve because he is doing a better job at protecting his economy, investor Jim Rogers, CEO of Rogers Holdings, told "Squawk Box Europe" on Friday.

  • Bellagio Hotel

    Thunder rolled across Las Vegas in a sudden downpour Monday, a literal representation of the perfect storm that has rocked Sin City.

  • The Federal Reserve headquarters in Washington, DC.

    Below is the minutes released by the Federal Open Market Committee after its July 24 meeting on interest rate policy:

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    Most Fed officials thought interest rates weren't too low at the August meeting, but they also expected their next move would be to boost rates, minutes show.

  • As U.S. Fed chiefs met in Jackson Hole, Wyoming to discuss ways of preventing another credit crisis, CNBC's Steve Liesman asked top economic minds for their insight on the government's actions.

  • Ben Bernanke

    Federal  Chairman Ben Bernanke indicated the Fed should be able to keep interest rates low for some time, as the recent drop in commodity prices should reduce the threat of inflation.

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    Warren Buffett may make some brief appearances in a new documentary film that paints a bleak picture of America's financial future, but he didn't quite follow the script in a live discussion beamed to hundreds of movie theaters for the film's premiere.

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    Warren Buffett will make multiple live appearances throughout the three hours of CNBC's Squawk Box this coming Friday morning, August 22. He'll be sitting down with our own Becky Quick, who is traveling to Omaha for the premiere the night before of a new anti-deficit documentary that includes an appearance by Buffett.

  • Bill Gross, founder and chief investment officer of Pimco, does not believe the U.S. Federal Reserve will raise interest rates, he told CNBC on Friday.