The U.S. unemployment rate -- now at 7.6 percent, the highest in more than 16 years -- is expected hit a peak of 9 percent this year, according to the latest survey by the National Association for Business Economics to be released Monday.
Is inflation Dead? While Ben Bernanke and most of the economics profession believes that it is, this is largely because of the Phillip’s curve — which argues a trade-off between unemployment and inflation, or recession and recovery.
Friday: Bank nationalization is the big topic du jour. Everyone seems to dislike the idea, but more and more analysts are begrudgingly calling nationalization the inevitable next move in the financial crisis. UBS widened its tax probe; a survey of U.S. homeowners showed more depreciation; and gold rose over $1,000 on investors' flight to safety. CNBC heard from experts who said the U.S. dollar will emerge as the ultimate safe haven; and Citigroup and Bank of America will indeed survive.
The Consumer Price Index rose 0.3% after having big drops in the past two months. The core rate, excluding energy and food, rose 0.2%. Here is a breakdown of the inflation benchmark to show you where costs are rising most.
Billionaire investor Wilbur Ross, chairman and CEO of WL Ross & Co., shared his insight on Obama's economic plans, the SEC, the housing market and more with CNBC.
The recession may not yet be as bad as the long, deep ones of the 70s and 80s, but even those who haven’t lost their jobs or homes are feeling all the poorer for it.
As the economy continues to struggle, the public is growing increasingly concerned about losing jobs, not having enough money to pay the bills and seeing their retirement accounts shrink, according to an Associated Press-GfK poll.
Wall Street talking heads got you baffled? Cramer debunks 10 myths to help you separate fact from fiction.
FOMC participants are beginning to doubt the possibility of an economic turnaround in 2009, agreeing that the best case scenario would be for an extremely slow, and potentially delayed, turnaround starting late this year.
Below are the minutes released by the Federal Open Market Committee after its Jan. 27-28 meeting:
Tuesday: President Obama signed the $787 billion economic stimulus bill into law, as governments around the world consider their own actions. But global markets plunged on fears of a deepening recession; Chrysler asked the U.S. for $2 billion more in loans and General Motors is widely expected to follow suit. Investors are fleeing to bonds and gold-backed securities. CNBC heard from experts who warned that the March "bear market bull" won't happen — but that we are, indeed, in a "bottoming process."
Paul McCulley, managing director of Pimco, says he is looking for more details on the bank rescue plan than Treasury Secretary Timothy Geithner's is willing to provide.
The U.S. trade deficit fell to the lowest level in nearly six years in December as the recession depressed demand for imports.
Treasury Secretary Tim Geithner defended his newly announced financial bailout plan, telling CNBC that "the financial crisis is enormously complicated" and will take time to resolve.
Here's a comparison of the $838 billion economic recovery plan passed by the Senate with an $820 billion version passed by the House.
Government action to shore up the economy and improve the housing climate probably will send mortgage rates to 4.5 percent, Bill Gross, co-CEO at the Pimco bond fund, said Monday.
As central banks around the world race to cut interest rates to historic lows and try to stimulate growth through domestic spending, the risk of future inflation grows larger.
The latest employment data shows a loss of 598,000 jobs in January, slightly more than expected, while the unemployment rate shot up to 7.6 percent. CNBC asked economists, executives and political leaders what the deep cuts mean for the economy.
There are jobs available, but financial types will have to make drastic changes—including going into a different field, accepting less money and possibly moving.
Economists predict another steep decline in payrolls for January, with the jobless rate expected to reach 7.5%.