The U.S. central bank lowered its forecast for economic growth this year, but it reiterated its expectations for unemployment. Further, the bank said it now expects the Fed's first interest rate hike to take place in 2015.
The Fed's decision to increase securities purchases by $40 billion per month - QE3 - exceeded analysts' expectations, and in his press conference Bernanke outlined the central bank's reasons for the move.
Almost 50 years after the passage of the 1963 Equal Pay Act, women still take in 77 cents for each dollar earned by a man.
Citi Habitats, the city's largest rental brokerage, said Manhattan's residential vacancy rate jumped to a three-year high in August as rents continued to escalate.
The Federal Reserve will begin buying more than $80 billion of securities per month in the third attempt at stimulating the U.S. economy by boosting the central bank's balance sheet.
In the statement, the Federal Reserve announced Thursday it will buy $40 billion per month of mortgage-backed securities, the start of the so-called third round of quantitative easing, QE3. The Fed also said it will continue 'Operation Twist,' bringing total securities purchased per month to $85 billion.
Here are two places to get a live stream of the news conference that Ben Bernanke, the chairman of the Federal Reserve, will hold today following the conclusion of a two-day meeting by the central bank's rate-setting committee.
Britain’s aging population is placing a great burden on health care services.
The four-week average of initial U.S. jobless claims rose last week to its highest level in nearly two months, yet another indication of the nation's anemic job creation ability.
Less than 24 hours after the U.S. government reported it was mostly done with its money-losing bailout of AIG, a Bloomberg News article out Tuesday explained how Wall Street banks are setting themselves up for the next systemic crisis by playing at financial alchemy in the derivatives market.
China's economic slowdown is expected to reach its nadir in the third quarter, leaving growth for 2012 likely to fall below 8 percent, a level unseen since 1999. While top Chinese leaders remain confident that the world's second-largest economy still has "ample strength" in either monetary or fiscal domains to propel economic growth, economists caution that the $158 billion stimulus unveiled by China may not be all it's hyped up to be.
The island, officially French but in fact very much its own place, is among the most beautiful in the Mediterranean, but it still suffers from endemic violence by nationalists and mobsters. What's wrong with Corsica, then?
Yahoo! Inc, National Bank of Greece, Nokia Corp, Zynga Inc, Compucredit Holdings, Halcon Resources, Harmony Gold Mining, Amazon.com and Banco Santander are among the companies whose shares are moving in pre-market trading Thursday.
Asian stock markets were mixed Thursday as investors opted for caution ahead of the U.S. Federal Reserve's policy announcement later in the day.
The U.S. stock index futures point to a lower open Thursday as investors maintained a cautious mode ahead of the Federal Reserve meeting in which there is the likelihood of another round of quantitative easing measures to be announced to invigorate the economy.
Most of the European markets fell Thursday as investors remained watchful waiting for the U.S. Federal Reserve to announce stimulus measures to revive the economic growth.
The top after-market Nasdaq gainers Wednesday were SciClone Pharmaceuticals Inc, Infinera Corporation, Sanmina-SCI Corporation, Achillion Pharmaceuticals Inc and Glu Mobile. The top after-market Nasdaq losers were Ericsson, NXP Semiconductors N.V., NetSpend Holdings Inc, KIT digital Inc and Air Methods Corporation.
The top after-market NYSE gainers Wednesday were K12 Inc, Pall Corp, HFF, Inc, National Bank of Greece and Dole Food Co. The top after-market NYSE losers were Spartech Corp, Halcon Resources Corp, Genesee & Wyoming, Chesapeake Lodging Trust and Nautilus, Inc.
Most of the Asian markets made gains Thursday as investors remained hopeful waiting for the policymakers in the U.S. to announce monetary easing measures to boost the global economy and rejuvenate the economic growth momentum.
Asian shares eased Thursday ahead of the U.S. Federal Reserve's decision later in the day, but investors remained optimistic of further stimulus action to bolster the world's largest economy.
One of the best-performing sectors this year was also one of the hardest hit by the recession: homebuilders, whose stocks have outpaced the broader market with a modest rebound in home prices and increased demand for properties, but much of recovery has unevenly benefited the luxury sector.
Voters continually claim that one issue is most important to them this election. It’s an area where President Barack Obama fails miserably and, for that reason, is trying desperately to avoid it -- the economy.
The number of U.S. homeowners with negative equity, or underwater mortgages, fell in the second quarter as home prices increased and inventory fell, foreclosure data firm CoreLogic said Wednesday.
The U.S. government went into a full-throated propaganda offensive Tuesday in an effort to show that the highly controversial 2008 bailouts of American International Group, Inc. (NYSE: AIG) were profitable.
Market bulls charged on Wednesday -- running U.S. stock futures, European stocks, the euro, oil and gold higher -- in the wake of a German court ruling that backs the country's participation in the euro zone's new bailout fund created to prevent the weakest euro economies from going bust. However, some economists warn that it's too early to sound the all-clear on the fate of the single currency bloc.
Alcatel Lucent SA, Nokia Corp, Sohu.com, Facebook, Barclays, Banco Santander, Cognizant Technology Solutions Corp, Morgan Stanley and Apple Inc. are among the companies whose shares are moving in pre-market trading Wednesday.
Indonesia is the fifth-largest cigarette-producing market in the world. The government generates 6 percent of its revenue from taxes on tobacco.
Markets have been talking about QE3 for two years. Now, after a sovereign credit downgrade, the near collapse of the European financial system, and facing an anemic recovery that has only marginally helped heal the carnage in the labor and housing markets, the vast majority of financial pundits believe QE3 this week is "pretty much a given."
In an attempt to boost foreign fund flow into the country, the Reserve Bank of India eased the limit of external commercial borrowings (ECB) by any individual, company or group.
The U.S. stock index futures point to a higher open Wednesday as investor confidence was underpinned by expectation that the Federal Reserve will announce stimulus measures this week to invigorate the economy and boost growth.
