The Federal Reserve said Monday it will extend its Term Asset-Backed Securities Loan Facility another six months through it said conditions were improving in some areas.
The Federal Reserve said it will extend to the end of October a program to buy longer-term government securities, and it kept interest rates steady near zero as expected. Following is the Fed's full statement.
Incompetent policymakers are to blame for a financial crisis that will continue until substantial changes are made, "Black Swan" author Nassim Taleb told CNBC.
That’s just what Congress appears to be saying to the American people with its over the top $500 million for the purchase of eight new airplanes that will shuttle them – senators and representatives - back and forth around the world.
Some of the nation's top economic forecasters have gathered for their annual pow-wow in the woods of Maine to compare notes and reflect on the state of the economy.
Although the U.S. economy is losing jobs at a slower rate, unemployment could still exceed 10 percent, said Tig Gilliam, CEO of staffing company Adecco North America.
The House moved toward passing legislation Friday to rein in salaries and bonuses for executives on Wall Street, a day after it was disclosed that nine bailed-out banks awarded million-dollar-plus bonuses to thousands of its employees.
Employment compensation for U.S. workers has grown over the past 12 months by the lowest amount on record, reflecting the severe recession that has gripped the country.
Tens of thousands of unsafe or decaying bridges carrying 100 million drivers a day must wait for repairs because states are spending stimulus money on spans that are already in good shape or on easier projects like repaving roads, an Associated Press analysis shows.
Friday's GDP report is expected to show the economy shrank further in the second quarter, but many economists believe the recession has finally hit bottom.
Federal Reserve Chairman Ben Bernanke said Sunday that he had to "hold my nose" over last year's taxpayer-financed bailouts of big financial companies but argued that the action had to be taken to avoid a major meltdown of the U.S. financial system and the broader economy.
"The nosedive is over," says one economist about Friday's second-quarter GDP report. "Nevertheless, you come out of this looking past the second quarter with a very uneven recovery picture."
Corning stock softened in early morning trading despite reporting better-than-expected second-quarter earnings on Monday.
Unprecedented policy moves from the Federal Reserve helped fend off another Great Depression and should help the economy start to recover next year, former Fed Governor Randall Kroszner told CNBC.
States are spending hundreds of thousands of dollars apiece on special legislative sessions whose chief purpose, ironically, is to trim more funding from their eroding budgets.
A federal minimum wage increase that takes effect Friday could prolong the recession, some economists say, by forcing small businesses to lay off the same workers that the pay hike passed in better times was meant to help.
People assume a dismal economy means good times for repo men. But as the creditors who hire them aim to cut costs, these automotive bounty hunters are struggling along with the rest of American business.
Iowa, Massachusetts and Nebraska can all make a good case for being the most-improved state in our 2009 rankings.
Nine out of the top ten states in the economy category of CNBC's Top States For Business are west of the Mississippi River and that’s largely because their unemployment rates are significantly below the national average in May of 9.5 percent.
If there’s one state that personifies the nations financial and economic problems, it’s probably California, which is something of a nation state. Though California did not suffer a precipitous decline in the 2009 rankings of our Top States For Business, it is now solidly in the bottom half