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23/08/2008 01:00 AM
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Bernanke Urges Broader Powers For Central Bank
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JACKSON HOLE, Wyo., Aug. 22 -- Federal Reserve Chairman Ben S. Bernanke on Friday laid out his views of how the central bank should position itself to try to prevent or ease future financial crises. But he acknowledged that any such changes are fraught with new risks of their own.
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23/08/2008 01:00 AM
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Seeing Red: Buffett, Others Clash On Danger Posed by U.S. Debt
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OMAHA, Aug. 22 -- Two long-term views of the U.S. economy were on vivid display at a town hall meeting here Thursday night, with the world's richest person on one side and pretty much everybody else on the other.
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22/08/2008 01:47 PM
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Bernanke: Financial System Must Be Strengthened
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JACKSON HOLE, Wyo., Aug. 22 -- Federal Reserve Chairman Ben S. Bernanke Friday called for a strengthening of the nuts and bolts of the financial system and said the Fed and other regulators should focus more on the stability of the overall system , rather than just the health of individual compan...
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20/08/2008 01:00 AM
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Producer Prices Up 1.2% In July
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Wholesale prices jumped in July at the fastest rate in more than a quarter-century, the Labor Department reported yesterday, furthering concerns about a continued increase in inflation at a time when economic activity has ebbed.
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17/08/2008 01:00 AM
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Executive Search: Laid-Off Wall Street Workers Branch Out
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NEW YORK -- Jessica Walter didn't go to Harvard University to study cupcakes, but they're her focus since she lost her job as a vice president in credit strategy at Bear Stearns.
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15/08/2008 01:00 AM
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Inflation Climbs to 17-Year High
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Americans paid more last month not only for gas and food but also for a variety of goods and services, including clothes, shoes, hotels and air travel, as inflation unexpectedly jumped to a 17-year high.
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15/08/2008 01:00 AM
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Sir Alan's Follies
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The Maestro just can't get the hang of this retirement thing.
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12/08/2008 01:00 AM
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Economic Malaise Threatens To Undermine European Unity
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MADRID -- The fruits of Spain's economic transformation found their way to Maria Dolores Barroso's cafe. Fueled in large part by a massive building boom, the Spanish "miracle" brought new jobs to legions of construction industry workers -- many of whom would pack her cafe at sundown, dropping the...
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12/08/2008 01:00 AM
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Sovereign Funds Become Big Speculators
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Sovereign wealth funds, the massive investment pools run by foreign governments, are now among the biggest speculators in the trading of oil and other vital goods like corn and cotton in the United States, according to interviews with brokers who handle their investments at leading Wall Street...
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10/08/2008 01:00 AM
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Obama Tax Plan Would Balloon Deficit, Analysis Finds
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On the campaign trail, Sen. Barack Obama bashes President Bush for "reckless" economic policies that are "mortgaging our children's future on a mountain of debt." But the Democratic presidential candidate has adopted a key component of Bush's fiscal policy: A novel bookkeeping method that guarantees...
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10/08/2008 01:00 AM
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Credit Card Industry Faces Reforms
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Stricter regulation of the credit card industry will probably be approved by the end of the year, consumer advocates, members of Congress and banking officials said as the comment period on the Federal Reserve's proposed actions drew to a close last week.
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09/08/2008 01:00 AM
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Credit Crisis Triggers Unprecedented U.S. Response
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Since the credit crisis erupted a year ago, the Bush administration has presided over one of the broadest expansions of the government into private lending in U.S. history, risking public money to prop up financial firms both large and small.
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09/08/2008 01:00 AM
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Falling Oil Prices Boost Stocks After Volatile Week
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U.S. stocks rebounded yesterday as crude oil prices continued a slide that helped offset deepening losses at mortgage giant Fannie Mae.
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07/08/2008 01:00 AM
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Indebted Ever After
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A private-equity billionaire, a former federal government official and a Baltimore newsletter editor have made a documentary film that they hope can do what an endless parade of policy papers has not: Persuade Americans that debt has created a looming economic crisis that would make the Great...
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06/08/2008 01:00 AM
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Stocks Jump on Fed's Prediction for Inflation
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NEW YORK, Aug. 5 -- The Dow Jones industrial average jumped 2.9 percent Tuesday as investors drew confidence from a continued decline in oil prices and from the Federal Reserve's prediction that inflation would level off.
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05/08/2008 01:00 AM
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Gas Prices Apply Brakes To Suburban Migration
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That 1958 brick rambler inside the Beltway is suddenly looking a lot better to Dawn and Jeff Schaefer, who are buying their first house in Northern Virginia.
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05/08/2008 01:00 AM
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June Inflation Drags on Shoppers
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Consumers' buying power was dragged down by inflation in June, according to data released yesterday by the Commerce Department, dealing another blow to a retail industry already beset by economic woes.
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03/08/2008 01:00 AM
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Hovering Above Poverty, Grasping for Middle Class
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Low-wage workers in the United States are gripped by increasing financial insecurity as they inch along an economic tightrope made riskier by pervasive job losses and rising prices. Many struggle to pay for life's basics -- housing, food and health care -- and most report having virtually no...
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02/08/2008 01:00 AM
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Jobless Rate Hits a High, Dims Hope For Recovery
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The fallout from the economic downturn spread into new corners of the job market in July, adding to the deep stresses facing American workers.
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01/08/2008 01:00 AM
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Economy Grows on Impact of Stimulus
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The economy grew at a respectable pace this spring, despite the financial crisis, soaring fuel prices and moribund housing market. But as the impact of government stimulus payments fades and a boom in exports levels off, the economy is likely to face deepening challenges in the months ahead, econ...
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31/07/2008 01:39 PM
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U.S. Economic Growth Improves Over First Quarter
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The U.S. economy grew at a solid pace in the second quarter, the government said today, despite being buffeted by a financial crisis, a deep housing slump, high fuel prices and a weak job market.
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31/07/2008 01:00 AM
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Fed Leaves Door Open to Future Rate Increases
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The Federal Reserve is all but certain to leave interest rates unchanged when it meets next week, and its leaders are disinclined to raise them in the immediate future. But they almost uniformly think that the next time they adjust rates, it will be to raise them, and the debate behind closed doors...
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29/07/2008 01:00 AM
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Internal Justice Dept. Report Cites Illegal Hiring Practices
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For nearly two years, a young political aide sought to cultivate a "farm system" for Republicans at the Justice Department, hiring scores of prosecutors and immigration judges who espoused conservative priorities and Christian lifestyle choices.
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29/07/2008 01:00 AM
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Record $482 Billion '09 Deficit Forecast
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The federal budget deficit will grow to a record $482 billion in the fiscal year that begins in October, the White House said yesterday, driven by war costs, tax rebates, and a slowing economy that will leave the next president little room to fulfill costly campaign promises.
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29/07/2008 01:00 AM
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Fannie, Freddie On a Tightrope
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The collapse in the stock prices of Fannie Mae and Freddie Mac earlier this month, followed by an equally dramatic rebound, underscored the vulnerability of today's agitated markets to panic and the mercurial behavior of global traders.
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29/07/2008 01:00 AM
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Treasury, Banks Promote 'Covered Bonds'
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The nation's top financial regulators and four of its largest banks announced plans yesterday to expand a method for financing mortgages, called "covered bonds," in an effort to reinvigorate the frozen housing market.
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28/07/2008 01:00 AM
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Transparency Sought as Speculators' Activity in Oil Market Grows
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Big Wall Street firms representing the interests of pension funds, endowments and wealthy individuals around the country have grown in just a few years from minor participants in the oil markets to their most dominant force.
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27/07/2008 01:00 AM
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This Time, It's Different
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The two events, half a world apart, went largely unheralded.
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27/07/2008 01:00 AM
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Housing Bill Won't 'Perform Miracles'
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Even as a huge bipartisan majority in the Senate voted yesterday to send a sprawling housing bill to the White House, economists, consumer advocates and other analysts said the package of programs for struggling homeowners and shaken mortgage lenders is unlikely to relieve the foreclosure crisis...
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24/07/2008 01:00 AM
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Fed Report Portrays Stressed Economy
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The economy has continued slowing this summer across most of the nation as prices keep rising sharply, according to a report by the Federal Reserve, indicating that the squeeze that has made times tough for Americans throughout 2008 shows no sign of letting up.
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23/07/2008 01:00 AM
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Banks' Health Questioned as Wachovia Posts $8.9 Billion Loss
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Concerns about the health of the nation's banks continued to mount yesterday as Wachovia and SunTrust -- two of the most active in the Washington region -- as well as other financial institutions disclosed they were still being pounded by the mortgage crisis.
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22/07/2008 01:00 AM
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Two Fed Myths That Need Debunking
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There are two things you may have heard about the Federal Reserve Board, both of which are wrong.
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17/07/2008 01:00 AM
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Stocks Rebound Despite Big Jump In June Inflation
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Consumer prices surged 5 percent over the past year, the Labor Department said yesterday, as inflationary pressures spread ominously beyond energy and food to other parts of the economy.
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17/07/2008 01:00 AM
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Fed's Crisis Role Spurs Questions of Overreach
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The sprawling financial and economic crisis is leading to expansion of the Federal Reserve's role, increasingly turning the central bank into a sort of all-purpose guarantor of the financial system.
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17/07/2008 01:00 AM
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Figures in Both Campaigns Have Deep Ties to Mortgage Giants
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When Fannie Mae and Freddie Mac's stock prices plunged and rumors of their insolvency swirled, the presidential campaigns of Sens. John McCain and Barack Obama released terse statements about the mortgage giants, then went nearly silent.
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17/07/2008 01:00 AM
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Slowing Economy Gives Way to Global Role Reversals
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The global slowdown stemming in part from the deepening U.S. financial crisis is hitting the world's richest nations the hardest even as emerging nations, some with once-fragile economies, are proving relatively resilient.
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16/07/2008 01:00 AM
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An Economy Thrown Into Turmoil
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Fresh worries spread through world markets yesterday as a crisis of confidence battered more U.S. financial institutions and the chairman of the Federal Reserve issued a sober assessment of the country's economic woes. It appeared to mark a new phase in the U.S. financial crisis, with fears of a...
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16/07/2008 01:00 AM
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Bush Attempts to Allay Fears About the Economy
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President Bush sought yesterday to reassure shaky markets and frightened consumers about worsening financial conditions, and he blamed congressional Democrats for not acting quickly enough to tackle the nation's economic troubles.
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15/07/2008 01:00 AM
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Jobless Rate for Youths Is Increasing
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CHICAGO -- Since Eddie Macias graduated from high school in Chicago on June 17, his summer has stretched in front of him.
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15/07/2008 01:00 AM
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Bush Rescinds Father's Offshore Oil Ban
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President Bush yesterday lifted a presidential ban on offshore oil drilling on the Outer Continental Shelf that was implemented by his father, escalating a confrontation with Democrats in Congress over how to cope with soaring gas prices.
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15/07/2008 01:00 AM
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Despite Lifelines, Concerns Linger on Mortgage Giants
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The federal government's assistance plan for Fannie Mae and Freddie Mac steadied the financial markets yesterday but failed to end concern about the future of the mortgage finance giants.
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15/07/2008 01:00 AM
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Markets Show Modest Declines, But Big Bank Stocks Nose-Dive
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A federal plan to bolster mortgage giants Fannie Mae and Freddie Mac brought some relief to the stock market yesterday, but the modest declines in the major indicators masked the continuing turbulence in financial shares.
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14/07/2008 01:00 AM
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Government May Aid Mortgage Giants
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The federal government unveiled a broad program yesterday evening to bolster troubled mortgage giants Fannie Mae and Freddie Mac, extending unprecedented support to the companies and proposing new authority to lend them money and even buy their stock.
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14/07/2008 01:00 AM
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U.S. Unveils Plan to Aid Mortgage Giants
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The federal government unveiled a broad program yesterday evening to bolster troubled mortgage giants Fannie Mae and Freddie Mac, extending unprecedented support to the companies and proposing new authority to lend them money and even buy their stock.
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14/07/2008 01:00 AM
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Fannie, Freddie Deflected Risk Warnings
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Though the implosion of investor confidence in Fannie Mae and Freddie Mac last week was sudden, the worries driving it have been the subject of countless warnings over many years.
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13/07/2008 01:00 AM
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Freddie Mac's Next Hurdle: Raise Cash
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Treasury Department officials were working the telephones yesterday to make sure that Freddie Mac, one of the nation's two troubled mortgage giants, will be able to sell $3 billion of its securities tomorrow in a previously scheduled sale that has now become a crucial test of investor confidence.
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11/07/2008 01:00 AM
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Sustaining the Medellin Miracle
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MEDELLIN, Colombia -- This labyrinthine metropolis transformed over the course of a decade from a battlefield of drug lords, paramilitaries and leftist guerrillas into one of the safest, most dynamic cities in Latin America. Visionary inner-city renewal projects and a push to take back the lawles...
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11/07/2008 01:00 AM
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Gramm Remark Adds to McCain's Difficulty Addressing the Economy
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BELLEVILLE, Mich., July 10 -- Sen. John McCain ventured to an auto-parts supplier in this hard-hit Detroit suburb to express sympathy for those affected by Michigan's economic malaise and to talk up his ideas for creating jobs in the region.
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11/07/2008 01:00 AM
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Meeting of the Minds On Regulatory Revamp
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The nation's top economic policymakers took their campaign to rework financial regulation to Capitol Hill yesterday, urging Congress to make major changes in the oversight of Wall Street firms and other financial institutions.
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09/07/2008 01:00 AM
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Bernanke Endorses Expanded Authority
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Federal Reserve Chairman Ben S. Bernanke yesterday endorsed major changes to the ways the financial system is regulated, advocating new tools to make sure big financial firms that fail do not damage the overall economy.
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09/07/2008 01:00 AM
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Oil Sinks $9 in Two Days As Global Economy Cools
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Oil prices tumbled yesterday for a second straight day, sliding $5.33 a barrel due in large measure to softening demand because of the slowdown in the U.S. and European economies.
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08/07/2008 01:00 AM
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Candidates Diverge on How to Save Social Security
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Sens. Barack Obama and John McCain are both proposing dramatic changes to Social Security, taking on the financially fragile "third rail of American politics" that Congress and recent presidents have been unable to repair.
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08/07/2008 01:00 AM
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Fed, SEC Team Up On Bank Oversight
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Two top regulators reached a formal agreement to coordinate their oversight of Wall Street yesterday, as the government attempts to build a new system to guard against a meltdown of the financial system.
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06/07/2008 01:00 AM
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Spring's Rally Fades, and Dark Clouds Settle In
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Once again, it was a disappointing quarter for U.S. stocks, as a spring rally fueled by investors' optimism that the worst of the financial crisis was over gave way to concerns about inflation, soaring oil prices and renewed fears about the ongoing credit crunch.
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06/07/2008 01:00 AM
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Proposed Change in Global Trading Rule Raises Risks
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The Securities and Exchange Commission has proposed a new rule that might have passed you by. I'm alerting you here because it speaks volumes about where trading is going in the United States. For many, it offers new opportunities. We'll also be importing new risks, in the future, that we may...
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04/07/2008 01:00 AM
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U.S. Workforce Shrinks For 6th Straight Month
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Employers cut 62,000 jobs in June, marking the sixth consecutive month that the nation has shed jobs, according to a government report released yesterday, deepening concern that the struggling U.S. economy could turn worse before it gets better.
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02/07/2008 01:00 AM
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McCain Stressing Trade On Latin American Trip
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CARTAGENA, Colombia, July 1 -- Sen. John McCain arrived here Tuesday night on his third foreign trip since clinching the Republican presidential nomination, the latest attempt to embellish his international credentials at a time when the electorate is increasingly focused on domestic issues.
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28/06/2008 01:00 AM
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Stocks End a Down Week Closer to a Bitter Milestone
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A week of spiraling oil prices, pessimistic corporate news and renewed fears over the direction of the national economy ended yesterday with U.S. stocks again slipping after the dramatic fall of a day earlier.
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28/06/2008 01:00 AM
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Fed Releases Details Of Bear Stearns Rescue
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The Federal Reserve said it was scrambling to prevent a "contagion" from infecting the nation's financial system when it took unprecedented actions this spring to back a Bear Stearns rescue package and provide emergency loans to big Wall Street firms.
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26/06/2008 01:00 AM
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Fed Ends String Of Rate Cuts
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The Federal Reserve left a key interest rate unchanged yesterday, ending a long campaign of interest rate cuts, as the central bank indicated that it was increasingly worried about inflation. But the Fed offered no sign that it was planning rate hikes in the near future to combat soaring prices.
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25/06/2008 01:00 AM
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Relief Measure Passes Key Test Vote in Senate
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A plan to help thousands of troubled homeowners avoid foreclosure won overwhelming bipartisan support on a key test vote in the Senate yesterday, and supporters predicted that the measure would pass as soon as today.
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24/06/2008 01:00 AM
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Economic Challenges Draw Out Divisions at Fed
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As Federal Reserve policymakers sit down this morning to begin deciding whether to adjust interest rates, they do so at a time of exceptional internal disagreement over what approach the central bank should take.
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21/06/2008 01:00 AM
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Big Promises Bump Into Budget Realities
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On the presidential campaign trail, Democrat Barack Obama promises to "completely eliminate" income taxes for millions of Americans, from low-income working families to senior citizens who earn less than $50,000 a year.
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20/06/2008 01:00 AM
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Former Fund Managers Face Fraud Charges In Credit Crisis
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Two former Bear Stearns hedge fund managers were arrested yesterday and charged with fraud related to the collapse of a pair of investment funds that helped usher in the current financial crisis that grew out of the meltdown of the subprime mortgage market. They are the first top Wall Street...
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19/06/2008 03:11 PM
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Paulson Urges New Fed Powers
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Treasury Secretary Henry M. Paulson Jr. today called for the Federal Reserve to be given new, explicit powers to intervene in the workings of Wall Street firms to protect the financial system, adapting his vision of how the financial world should be regulated to reflect the lessons of the collapse...
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19/06/2008 01:00 AM
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Bush Calls for Offshore Oil Drilling
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President Bush called yesterday for lifting the 27-year-old ban on U.S. offshore oil drilling, joining Sen. John McCain in endorsing an idea that Republicans hope will gain traction in Congress and on the campaign trail as the price of gasoline soars.
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19/06/2008 01:00 AM
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Paulson To Urge New Fed Powers
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Treasury Secretary Henry M. Paulson Jr. plans to call today for the Federal Reserve to be given new, explicit powers to intervene in the workings of Wall Street firms to protect the financial system, adapting his vision of how the financial world should be regulated to reflect the lessons of the...
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19/06/2008 01:00 AM
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Wall Street Lobbies to Protect Speculative Oil Trades
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Wall Street banks and other large financial institutions have begun putting intense pressure on Congress to hold off on legislation that would curtail their highly profitable trading in oil contracts -- an activity increasingly blamed by lawmakers for driving up prices to record levels.
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18/06/2008 01:00 AM
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Why We're Gloomier Than The Economy
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Ask Americans how the economy is doing, and their answer is stark: It is not just bad, it is run-for-the-hills terrible. Consumer confidence is at its lowest level in almost 30 years. Only 12 percent of Americans think the economy is in good shape. On the Internet, comparisons to the Great...
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18/06/2008 01:00 AM
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Goldman Profits in Stressed Economy
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Goldman Sachs yesterday reported that it earned $2.09 billion last quarter despite the financial crisis buffeting other Wall Street firms, but the figure was down from the corresponding period a year earlier, showing that even the world's largest investment bank is not immune to the upheaval in...
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18/06/2008 01:00 AM
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Oil to the Fore in U.S.-China Talks
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As high-level delegations from the United States and China meet this week in Annapolis for their latest talks on economic coordination, the Bush administration's concerns about the value of the Chinese currency have been overshadowed by anxiety over the global price of oil.
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18/06/2008 01:00 AM
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75 Years Later, a Regulator Who Would Make FDR Proud
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A new sport in Washington these days is bashing financial regulators, who didn't exactly cover themselves in glory during the recent credit bubble.
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17/06/2008 01:00 AM
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China Signs Trade Deals With Major U.S. Companies
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On the eve of high-level economic talks between the United States and China, the Chinese government yesterday signed a number of business agreements with major U.S. companies.
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14/06/2008 01:00 AM
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Fuel Costs Pushed Up Inflation In May
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Americans faced sharply higher prices in May, the government said yesterday, as soaring costs for energy drove overall prices up at the fastest rate since November.
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13/06/2008 01:00 AM
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The Economy's Steady Pulse
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Health care has become the beating heart of America's economy.
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12/06/2008 01:00 AM
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Economy Remains Sluggish, Fed Says
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Weaker attendance at Broadway theaters. Cutbacks at retailers in the southeast. A residential real estate market that is still in the dumps throughout most of the nation.
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11/06/2008 01:00 AM
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McCain, Obama Clash on Economy
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ST. LOUIS, June 10 -- Sens. Barack Obama and John McCain outlined on Tuesday sharply different approaches on how to revive the nation's economy and provide aid to struggling workers, giving voters a clear choice on the issue that Americans say they are most concerned about.
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11/06/2008 01:00 AM
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U.S. Trade Deficit Hits March '07 Levels
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The trade deficit jumped to its highest level in 13 months in April as the nation's bill for foreign crude oil soared to an all-time high.
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10/06/2008 01:00 AM
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Bernanke's Inflation Concerns Intensify
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CHATHAM, Mass., June 9 -- Federal Reserve Chairman Ben S. Bernanke signaled deepening concern over inflation last night and said that the central bank will "strongly resist" any tendency for Americans' expectations of price increases to become unhinged.
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07/06/2008 01:00 AM
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Record Oil Spike, High Jobless Rate Sink Stock Market
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A soaring jobless rate, an unprecedented jump in oil prices and a sliding dollar sent tremors through financial markets yesterday and cast fresh doubt on how soon the U.S. economy would be able to break out of a pattern of feeble growth and financial instability.
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07/06/2008 01:00 AM
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News Puts Economy Atop Political Agenda
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A historic leap in oil prices, tumbling stocks and the biggest jump in unemployment in over two decades pushed economic issues back to the forefront of the political debate yesterday. The cascade of grim economic news brought prompt responses from the presumptive presidential nominees, Sens. Barack...
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06/06/2008 01:00 AM
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Investors' Growing Appetite for Oil Evades Market Limits
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Hedge funds and big Wall Street banks are taking advantage of loopholes in federal trading limits to buy massive amounts of oil contracts, according to a growing number of lawmakers and prominent investors, who blame the practice for helping to push oil prices to record highs.
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06/06/2008 01:00 AM
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Despite Interest Rate Cuts, Foreclosures Hit Record High
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Even though lower interest rates have made many adjustable-rate mortgages more affordable, foreclosures continue to reach new heights as more than 1 million homeowners face losing their home, according to industry figures released yesterday.
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06/06/2008 01:00 AM
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Fed Official Says Rescues May Create More Risks
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In a sign of widening skepticism within the Federal Reserve system of the central bank's rescue of Bear Stearns, the president of a regional Fed bank said yesterday that such actions may make financial crises more common.
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06/06/2008 01:00 AM
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Rating Agencies Agree to Changes
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NEW YORK, June 5 -- Wall Street's three major credit-rating agencies reached an agreement Thursday with the New York state attorney general's office to change the way they evaluate mortgage securities that have roiled financial markets for the past year.
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05/06/2008 01:00 AM
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In Construction Slump, Latinos Lose the Most
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The unemployment rate among Latinos is rising faster than the rate for non-Hispanic workers in the United States, as the steep decline in the construction industry eliminates hundreds of thousands of jobs, according to a national study released yesterday.
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04/06/2008 06:02 PM
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Chairman Bernanke Delivers Remarks at Harvard University
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Federal Reserve Chairman Ben Bernanke delivers remarks on the economy, June 4, 2008.
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04/06/2008 01:00 AM
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Rising Prices, Falling Dollar Stoke Memories of the '70s
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Prices have been soaring long enough and fast enough, economists say, that the nation is at risk of a self-reinforcing cycle of inflation like that experienced in the 1970s.
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03/06/2008 01:00 AM
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Travelers Turn to Public Transit
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Soaring gas prices are pushing more Americans to take public transit, with streetcars, trolleys and other light rail experiencing a 10.3 percent increase in ridership for the first quarter of the year, according to a report released yesterday by the American Public Transportation Association.
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29/05/2008 01:00 AM
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Fed Governor Mishkin to Resign
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A Federal Reserve governor said he would resign late this summer, which could leave the central bank shorthanded as it grapples with some of the deepest challenges in its history.
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28/05/2008 01:00 AM
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Steel, Forging a Comeback
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The U.S. steel industry is enjoying a new era of prosperity less than a decade after crippling production costs and lower-priced imports helped trigger a huge wave of bankruptcies that some thought would leave it permanently tarnished.
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28/05/2008 01:00 AM
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The Fading of the Mirage Economy
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Suddenly, it seems, we're getting hit from all directions.
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27/05/2008 01:00 AM
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Fed Keeps Watch on Wall St. -- From the Inside
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In the two months since the government rescue of Bear Stearns, the Federal Reserve has built on the fly a new system of monitoring investment banks, radically redefining the central bank's role overseeing Wall Street.
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22/05/2008 01:00 AM
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Skyrocketing Oil Prices Stump Experts
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Confused about oil prices? So are the experts. Executives from the giant oil companies say it's partly the fault of "speculators" or financial players. Key financial players say it's really a question of limited supply and expanding global demand. Some members of Congress accuse the Organization of...
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22/05/2008 01:00 AM
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Fed Appears Unlikely to Keep Cutting Rates
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Most leaders of the Federal Reserve viewed their decision to cut interest rates last month as a "close call," according to minutes of the meeting released yesterday, a document that made it clear that the Fed is probably done with rate cuts for the foreseeable future.
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21/05/2008 01:00 AM
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Stocks Fall on Oil Spike, Credit Fears
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NEW YORK, May 20 -- U.S. stocks fell sharply Tuesday as concerns about surging oil prices, consumer spending and the credit crisis returned to the fore after several weeks of calm in financial markets.
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16/05/2008 01:57 PM
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Secretary Paulson Remarks on Credit Markets and Housing
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SECRETARY OF TREASURY HENRY M. PAULSON JR.: Thank you, Len. Over the last forty years, Washington has transformed into a diverse corporate center. Congratulations to The Post for recognizing this through their annual list of 200. And I am pleased to join you and represent the "old" Washington, th...
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15/05/2008 01:00 AM
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Food Costs Jump Most in 18 Years
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Rising global grain prices helped spark the largest increase in monthly food costs in nearly 20 years, as consumers paid more in April for cereals and baked goods, and the dairy, meat and other animal products that rely on feedstocks, the government reported yesterday.
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14/05/2008 01:00 AM
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Burdened by the Weight of Inflation
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Nearly seven in 10 Americans are worried about maintaining their standard of living, as concern has spiked higher in just the past five months, according to a new Washington Post-ABC News poll. Soaring consumer prices are a major challenge, with many people struggling under the weight of the risi...
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