Want more proof that the U.S. economy is still in a fragile state? Consider this. People are still holding back on buying burgers, soda and beer. So much for fast food, soft drinks and booze being recession-proof.
Treasurys were mixed Monday as investors prepare for a weekly offering of U.S. debt, worth $81 billion, amid ongoing concerns about struggling European economies.
U.S. stocks were headed for a weak start Monday, as investors remain nervous about the debt situation in Europe.
When the Senate grudgingly reconfirmed Ben Bernanke as Fed chairman two days before his term expired, he was only a stand-in for the man 30 senators were really mad at. "I knew that he would continue the legacy of Alan Greenspan, and I was right," said an angry Jim Bunning, a conservative Republican from Kentucky who voted no. Fumed Bernie Sanders of Vermont, the Senate's only (admitted) socialist: "He said it publicly -- I want to follow in the footsteps of Alan Greenspan. Alan Greenspan's philosophy is a disaster." Jeff Merkley (D-Ore.) said Bernanke "helped set the fire that destroyed our economy." Only helped, that is -- and we all know whom he helped.
Despite modest January job losses the good news for job seekers is that after a brutal recession that swallowed stimulus packages whole with barely a burp, the business cycle is finally your friend in 2010.
As bad as the government's jobs readings numbers have been during the Great Recession, we'll soon find out the real situation likely was worse.
The dollar firmed against major rivals Wednesday on stronger U.S. economic data and renewed credit concerns in the euro zone.
The dollar fell Tuesday as investors gravitated toward more risky currencies, but declines were limited ahead of key economic reports due out later in the week.
No matter what dollar doomsayers might say, the greenback's not done yet.
They're not calling it Stimulus 2, but the Obama administration wants to extend the life of several Recovery Act provisions by building them into the federal budget.
Want more proof that the U.S. economy is still in a fragile state? Consider this. People are still holding back on buying burgers, soda and beer. So much for fast food, soft drinks and booze being recession-proof.
Treasurys were mixed Monday as investors prepare for a weekly offering of U.S. debt, worth $81 billion, amid ongoing concerns about struggling European economies.
U.S. stocks were headed for a weak start Monday, as investors remain nervous about the debt situation in Europe.
When the Senate grudgingly reconfirmed Ben Bernanke as Fed chairman two days before his term expired, he was only a stand-in for the man 30 senators were really mad at. "I knew that he would continue the legacy of Alan Greenspan, and I was right," said an angry Jim Bunning, a conservative Republican from Kentucky who voted no. Fumed Bernie Sanders of Vermont, the Senate's only (admitted) socialist: "He said it publicly -- I want to follow in the footsteps of Alan Greenspan. Alan Greenspan's philosophy is a disaster." Jeff Merkley (D-Ore.) said Bernanke "helped set the fire that destroyed our economy." Only helped, that is -- and we all know whom he helped.
Despite modest January job losses the good news for job seekers is that after a brutal recession that swallowed stimulus packages whole with barely a burp, the business cycle is finally your friend in 2010.
As bad as the government's jobs readings numbers have been during the Great Recession, we'll soon find out the real situation likely was worse.
The dollar firmed against major rivals Wednesday on stronger U.S. economic data and renewed credit concerns in the euro zone.
The dollar fell Tuesday as investors gravitated toward more risky currencies, but declines were limited ahead of key economic reports due out later in the week.
No matter what dollar doomsayers might say, the greenback's not done yet.
They're not calling it Stimulus 2, but the Obama administration wants to extend the life of several Recovery Act provisions by building them into the federal budget.
President Obama revealed a $3.8 trillion budget for 2011 on Monday that tries to balance two competing goals: continued government spending to boost the fragile economic recovery and controlling the nation's deficit.
The worst month on Wall Street in nearly a year has left market pros and retail investors wondering if the long-in-the-works correction is finally here.
The U.S. economy grew at the fastest pace in more than six years during the fourth quarter of 2009, according to a government report Friday.
Oil prices reversed gains Friday as recovery concerns persisted, despite a report showing that the U.S. economy grew last quarter at its fastest pace in more than six years.
Treasurys rose Friday, recovering from earlier losses, as ongoing concerns about the global economy overshadowed a stronger-than-expected report on U.S. gross domestic product.
When President Obama called last month for a new tax break to spur job creation, critics blasted him for offering no specifics. On Friday, Obama filled in the details: He wants to give businesses a $5,000 tax credit for each net new employee they hire this year.
Stocks cut earlier losses Friday afternoon as investors digested a report showing GDP grew at the fastest pace in six years but remained wary about the outlook for the economy.
Interesting times lie ahead for Ben Bernanke.
In one of his many applause lines at Wednesday night's State of the Union address, President Obama emphasized the importance of American exports: "Tonight, we set a new goal," he said, "We will double our exports over the next five years, an increase that will support two million jobs in America." It's no surprise that people cheered; what's not to like? There's just one problem: Growing exports is almost entirely out of the president's -- and even business's -- hands.
U.S. stocks were set to open higher Friday as upbeat earnings and Fed Chairman Ben Bernanke's confirmation helped improve the mood after the previous session's big selloff.
Federal Reserve Chairman Ben Bernanke was confirmed for a second term Thursday by the U.S. Senate.
U.S. stocks poised for modest gains at the open Thursday, boosted by Ford's first full-year profit since 2005, President Obama's pledge to create jobs and the Federal Reserve's outlook for the economy.
The dollar was mixed Thursday as traders mulled President Obama's pledge to create jobs and ongoing concerns about global economic growth.
Stocks climbed Wednesday, ending a choppy session higher after the Federal Reserve held interest rates steady and hinted it would continue to do so for the foreseeable future. Meanwhile, Apple introduced its new iPad tablet computer.
The dollar extended its gains against the euro and rose against the yen Wednesday, after the Federal Reserve announced plans to hold interest rates steady as it said economic conditions continued to pick up.
Treasurys were mixed late Wednesday after the Federal Reserve left interest rates unchanged near zero.
Economist Nouriel Roubini said Wednesday that asset bubbles are beginning to form in markets around the world, and he called for more regulation of the global financial system.
The Federal Reserve said the U.S. economy continues to show signs of modest improvement but signaled it will stay the course and keep interest rates low to help spur a recovery.
This is the statement of the minutes of the Federal Open Market Committee meeting in December, released on January 27, 2010. For analysis of the Fed's interest rate policy and this statement, please see Fed: Recovery gaining strength.
Oil prices fell Wednesday as traders looked past the Federal Reserve's latest policy statement to focus on signs that energy demand remains weak.
The markets might be a heck of a lot calmer if everybody in Washington would just shut up. Of course, that's not going to happen anytime soon.
U.S. stocks were poised to advance Wednesday, as investors prepared for the release of the Federal Reserve's policy statement.
AIG and the Federal Reserve Bank of New York have become targets of an investigation into whether the overseer had instructed the troubled insurer not to disclose certain key information to the public.
Stocks struggled Tuesday as a late-session selloff in the financial sector cut into an earlier rally that had been sparked by Apple's record quarterly results and a stronger reading on consumer confidence.
The dollar rose against other major currencies Tuesday, except the yen, as global economic jitters boosted demand for safe-haven currencies even as U.S. stocks rebounded.
Oil prices fell below $75 Tuesday as concerns about global economic growth overshadowed a rebound in U.S. stock markets.
Credit rating agency Standard & Poor's raised the prospect of a downgrade in Japan's sovereign debt rating Tuesday. That's reigniting fears that the U.S. could be next.
It's no secret that the government is borrowing huge sums of money. What may surprise you is how much of it is coming from the United States.
The U.S. government's fiscal outlook is "daunting," with deficits averaging at least $600 billion a year over the next decade, the Congressional Budget Office said Tuesday.
Just a year after he unleashed a flood of dollars in a bid to prevent a second Great Depression, Ben Bernanke's job is on the line. More than a dozen senators have said they will oppose the Fed chairman's reappointment after his first term ends on Jan. 31. The rest of the vote counting is still in question.
U.S. stocks were poised for a lower open Tuesday amid concerns of a slowdown in China and ahead of the start of a two-day Federal Reserve meeting.
Congress will soon spar over how to spur jobs.
Stocks managed slim gains Monday as investors weighed recent worries about the bank sector and the likelihood of Federal Reserve Chairman Ben Bernanke serving for a second term.
The dollar eased against its main trading partners Monday, as stocks recovered and an auction of Greek bonds received strong demand.
Bond prices were mixed late Monday after a report showed existing home sales fell more than expected and amid anticipation that Federal Reserve Chairman Ben Bernanke will be reconfirmed for a second term.
Oil prices rose Monday for the first time in four days as investors looked ahead to the Federal Reserve's meeting on interest rate policy this week.
A year after a nearly $800 billion stimulus package was passed, the U.S. economy still finds itself mired in mediocrity.
"These are vulgar, obscene people who, in many cases, I really do believe, have serious emotional problems. In this country we have people who have drug problems, people who have alcohol problems."
U.S. stocks were poised for early gains Monday as investors looked to recover from last week's big pullback.
When the Federal Reserve meets Tuesday and Wednesday, its policymakers will be able to discuss something they haven't seen in years -- an economy that really looks like it's on the mend.
Of all the things keeping bankers up at night these days, the direction of interest rates may soon rank up there with loan losses and the heavy hand of the government.
After the worst week on Wall Street in almost a year, investors will return to work looking for greater clarity -- from Washington, from the banks and from corporate America.
Stocks slumped for a third straight session Friday, on worries that the White House's bank plan and China's lending curbs will mean a broader cutback in lending.
Some people look at the stock market while others scan the latest unemployment figures. But Rob DeRocker has an unusual barometer for measuring the strength of the American economy.
In January of 1983, I arrived in France to start a dream assignment as Paris bureau chief for Fortune. The timing was magnifique: I got to the offices near the Elysées Palace just in time to witness, and report on, one of the most extraordinary, and most successful, reversals in economic policy in modern history, all masterfully orchestrated by the Elysées' adroit occupant, President François Mitterrand.
American consumers are unlikely to ride to the economy's rescue the way they did following the 2001 recession.
The economies of many cities will begin to rebound in 2010, but a full recovery is far off, especially for the labor market, said a metro area outlook report released Wednesday.
In the latest move to placate critics, Federal Reserve Chairman Ben Bernanke on Tuesday invited the audit arm of Congress to review the Fed's bailout of American International Group.
The dollar rose against the euro Tuesday amid ongoing concerns about Greece and other troubled European economies.
The dollar fell against the U.K. pound Monday but held steady against other currencies in a quiet trading session.
The Senate faces some weighty issues when it reconvenes this week. Health care. A jobs bill. The debt ceiling.
Ben Bernanke and the rest of the Federal Reserve may think that low interest rates can continue to be just what the economy needs to get back on track.
The dollar was little changed against rival currencies late Wednesday after reports on retail sales and the labor market raised bets that the Federal Reserve will hold interest rates steady.
Former Federal Reserve Chairman Paul Volcker said Thursday that more needs to be done to regulate the financial system before the lessons of the recent crisis are forgotten.
Consumers scored a few unexpected victories in a set of Federal Reserve rules issued earlier this week.
Treasurys were mixed late Wednesday following the government's $21 billion offering of 10-year notes and after the Federal Reserve said economic activity is weak but recovering.
The dollar was mixed against major currencies late Wednesday on speculation that the Bank of England will raise interest rates and after the Federal Reserve said economic activity is weak but improving.
The economic stimulus program has boosted employment by 1.5 million to 2 million jobs, the president's chief economic adviser said Wednesday.
The House Oversight Committee will issue subpoenas Tuesday to the Federal Reserve Bank of New York to get its correspondence with rescued insurer American International Group.
The Federal Reserve banks made a $52 billion profit in 2009, reaping extra income on the government securities they bought in an effort to stabilize the financial system.
If the global economy really does rebound this year, guess what country is likely to lead the way? Hint: it's not the United States.
Treasurys recovered Monday as investors continued to digest the recent unemployment data, which reinforces the Federal Reserve's outlook to keep interest rates low.
A worse-than-expected December jobs report last week couldn't derail the economic optimism that's been fueling stock gains for months. But the weeks ahead could prove challenging, as the quarterly reporting period gets underway.
Treasurys were mixed on Friday after the government posted a larger-than-expected jobs decline.
Baby, it's cold outside! And that's bad news for anybody who's been to the gas station lately.
How much should the Federal Reserve support the bond markets? The question, which has animated investors lately, was the subject of a debate at December's Fed meeting, according to minutes from that meeting released Wednesday.
Happy New Year indeed! The financial markets got off to a hot start on the first day of trading Monday. Name an asset and it likely went up.
Treasury prices were mixed Monday as investors returned to the market after two holiday-shortened, thin trading weeks with confidence that economic recovery will take a stronger hold in 2010.
The Pope is considered to be infallible. Apparently, those who hold the title of Federal Reserve chairman want to be viewed that way as well.
Federal Reserve chairman Ben Bernanke said Sunday that low interest rates in the first half of the last decade were "appropriate" at the time and were not the main cause of the ensuing housing bubble.
At the start of 2009, who could have imagined that we'd actually have reasons to look back at the year fondly? It began with much to be worried about -- the health of Citigroup, Bank of America, AIG and other big financials; looming bankruptcies at GM and Chrysler; a stock market at its lowest point since 1997; and a labor market hemorrhaging jobs.
Got a gift card from Wal-Mart, Best Buy or American Express this holiday season?
The Treasury market is delivering on investors' holiday wish-list. Like most everyone else, it wants an economic recovery. And it's got a yield curve to prove it.
Eight in 10 Americans say the economy is in poor shape, but that's an improvement from a year ago, according to a new national poll.
Eight in ten Americans say that the economy is in poor shape, but that's an improvement from a year ago, according to a new national poll.
Stocks closed sharply lower Thursday after Greece received another credit downgrade and the dollar rose on the U.S. central bank's cautious comments.
Stocks ended mixed Wednesday after the Federal Reserve left interest rates unchanged, saying market conditions were helping the recovery but weakness will persist.
The Federal Reserve kept its key interest rate near 0% and appeared ready to do so for the foreseeable future, after declaring Wednesday that despite signs of improvement, the nation's economy is likely to remain weak.
The dollar rose against the euro Wednesday, recovering from earlier losses, after the Federal Reserve announced plans to hold interest rates steady and said economic conditions continued to pick up.
Information received since the Federal Open Market Committee met in November suggests that economic activity has continued to pick up and that the deterioration in the labor market is abating.
Stocks were set to move higher at Wednesday's open as investors await the latest pronouncement on the economy from the Federal Reserve.
It appears 0% is here for the foreseeable future.
Stocks were poised to open in negative territory Tuesday following a sharp increase in wholesale prices, while investors awaited a reading on manufacturing activity and the start of the Federal Reserve's two-day policy meeting.
As an insistent stock market rally coasts into the new year, investors are starting to look forward -- raising questions about just what kind of recovery we're in for.
The House passed legislation Friday aimed at preventing the next big financial crisis, ushering in the most sweeping set of changes to the banking regulatory system since the New Deal.
High anxiety unites most investors these days as the U.S. economy struggles, the global economic order shifts, and the emerging "new normal" feels distinctly strange. To get some calming perspective -- and specific advice -- we convened five top-ranked investing pros.
Stocks were mixed late Monday at the end of a choppy session impacted by a strong dollar, falling oil and gold prices and comments from Fed Chairman Ben Bernanke that cooled worries about higher interest rates.
Gold prices extended their decline for a second straight session Monday as the dollar continued to rise.
Federal Reserve chairman Ben Bernanke said Monday he's confident the Federal Reserve will make money on the trillions it has pumped into the economy since the start of 2008.
U.S. stocks were poised to open lower Monday as a further retreat in gold prices and a stronger dollar pressured futures.
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