Defending the Federal Reserve on the turf of his harshest critics, central bank chief Ben Bernanke on Thursday said the Fed was intently focused on lowering unemployment and warned that strains from Europe could trigger global economic shocks.
Gold has confounded market watchers by refusing to behave like a safe-haven and instead has tracked equities over the past few weeks, but the escalating European debt crisis could see bullion ditch its risk-asset mantle and return to record highs.
Spurring stronger growth and more robust job creation in the weak recovery are top priorities for the Federal Reserve, Chairman Ben Bernanke told a military audience at a rare public forum on Thursday.
Papademos’ resume is nothing short of sterling and diverse, with a heavy presence in the United States.
The Dow Jones Industrial Average (DJIA) registered another difficult day Tuesday, plunging 389 points to 11,781 on institutional investor concern that Italy will not be able to service its debt, and that one, and possibly more countries may leave the Eurozone. What's the prudent stance for the typical investor?
Maidenform Brands, Inc. (NYSE:MFB) badly missed Wall Street estimates for quarterly results released Wednesday, as the company faced sagging demand for the bras that support the bulk of its sales. The company's results, specifically its breakdown of sales growth by retailer type, painted an unflattering picture of a consumer economy weighed down by recessionary pressures.
Italian borrowing costs reached breaking point on Wednesday after Prime Minister Silvio Berlusconi's promise to resign failed to raise optimism about the country's ability to deliver on long-promised economic reforms.
Stock index futures tumbled on Wednesday as a spike in Italian bond yields sparked fears the country will need a bailout, ratcheting up the region's debt crisis to another level.
Italian borrowing costs reached the breaking point Wednesday after Prime Minister Silvio Berlusconi's promise to resign failed to raise optimism about the country's ability to deliver on long-promised economic reforms.
Two Federal Reserve policymakers known for their hawkish views on inflation pushed on Tuesday for the central bank to provide more guidance on policy goals.
Perhaps the most invidious, appalling action during the financial crisis was the decision by the U.S. Federal Reserve to take over New York-based American International Group (AIG) in Sept. 2008. And it was the most necessary.
Americans borrowed more in September to purchase cars and cover college expenses. Consumer credit expended $7.4 billion in September, a 3.6 percent increase at an annualized rate, and a health turnaround from a revised $9.68 billion unexpected drop in August, according to a Federal Reserve report on Monday.
Gold prices jumped two percent to hit their highest point in six weeks and regain, at least for now, its traditional role as a safe-haven investment.
Stock index futures pointed to a sharply lower open for equities on Wall Street on Monday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 down 1.2 to 1.3 percent.
Europe has a new informal leadership directorate intent on finding a solution to the euro zone's debt crisis, but it has yet to prove its ability to come up with a lasting formula.
The U.S. Labor Department announced 80,000 new jobs were added to the U.S. economy in October. The consensus among economic experts? We're not out of the woods yet.
The fall of Jon Corzine, a prominent figure with a toehold in the worlds of both finance and politics, is not only an issue for himself, but for one of the men who likely sought his advice and support on a regular basis, President Barack Obama. Perhaps more importantly, it follows a trend that has dogged the president since 2010, as, due to a variety of causes, many of the people close to Wall Street he had previously sought out have later found themselves uninvited to tea in the Rose Garden.
U.S. employment growth was likely too weak in October to pull down the nation's lofty jobless rate, though it may have been strong enough to suggest some economic momentum is building.
Just when you think the United States economy is about to tip back into a recession -- the dreaded double-dip -- up pops the unexpected -- modestly encouraging economic news, in the form of worker productivity and unit labor costs.
The number of people seeking state unemployment benefits fell for the third straight week, government data showed on Thursday, signaling some hopeful progress in the labor market.
Stock index futures pointed to a slightly higher opening for equities on Wall Street on Thursday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 up 0.1 to 0.2 percent.
Below are highlights from Federal Reserve Chairman Ben Bernanke's news conference following the Fed's policy meeting on Wednesday.
