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GDP growth revised lower to 2.8% in second quarter

posted by pipsmgee 1335 days ago in USD, Fundamental, GDP made popular 1335 days ago

The U.S. economy was not as strong in the second quarter as previously believed, held back by weaker spending by consumers and businesses alike, the Commerce Department reported Friday.

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New-home sales fall to weakest level in 17 years

posted by pipsmgee 1338 days ago in USD, Fundamental, Housing

Sales of new homes fell to a 17-year low in August, government data showed, raising further concern about conditions in the housing industry.

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Bernanke: Grave threat demands plan's passage

posted by pipsmgee 1340 days ago in USD, Fundamental made popular 1339 days ago

It is imperative that Congress pass the administration plan put forth by Treasury Secretary Henry Paulson to buy up to $700 billion in toxic debt because of the grave threat faced by a severe credit crunch, Federal Reserve Chairman Ben Bernanke s

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U.S. home prices down 0.6% in July

posted by pipsmgee 1341 days ago in USD, Fundamental, Housing made popular 1339 days ago

Even as Washington debates a massive rescue plan to cure the housing market's ills, the government reported Tuesday that U.S. home values declined 0.6% in July.

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U.S. readies broad rescue plan for financial crisis

posted by pipsmgee 1342 days ago in USD, Fundamental

The U.S. government is moving to enact a sweeping rescue package for the battered financial system that the White House says will sustain U.S. markets and the economy but also put hundreds of billions of taxpayer dollars on the line.

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Central banks in coordinated effort to boost liquidity

posted by pipsmgee 1345 days ago in USD, Fundamental

Overnight borrowing costs fell Thursday after the world's biggest central banks announced they would pump billions of dollars into the financial system to soothe distressed money markets.

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Fed still has lots of firepower

posted by pipsmgee 1346 days ago in USD, Fundamental

As the Federal Reserve pours ever more money into the crippled financial system, the obvious question arises: When will the Fed run out of ammunition?

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Fed holds rates steady

posted by pipsmgee 1347 days ago in USD, Fundamental, Inflation made popular 1347 days ago

Trying to project an appearance of calm and stability amid the unprecedented turmoil in the financial markets this week, the Federal Reserve on Tuesday held its benchmark fed funds rate at 2.0%, ignoring calls for rate cut to boost the struggling

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Market looks for a rate cut, but it's not certain

posted by pipsmgee 1348 days ago in USD, Fundamental made popular 1348 days ago

Financial markets are betting on an interest-rate cut by the Federal Reserve some time this month, but it's not certain that the central bank will deliver it at Tuesday's regularly scheduled meeting of its rate-setting panel.

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Retail sales fall on plunging gas prices in August

posted by pipsmgee 1349 days ago in USD, Fundamental, Retail Sales made popular 1349 days ago

U.S. retail sales unexpectedly fell in August, pushed lower by plunging gasoline prices, according to Commerce Department data released Friday.

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July trade deficit widens on surge in oil imports

posted by pipsmgee 1352 days ago in USD, Fundamental, Trade

The U.S. trade deficit widened more than expected in July, boosted by the largest volume of imported oil for four years, the Commerce Department reported Thursday.

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Payrolls expected to fall in August

posted by pipsmgee 1361 days ago in USD, Fundamental, Employment made popular 1361 days ago

Even as summer tans fade across Wall Street, analysts are pondering some surprisingly bright data released during the final days of August.

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