Bernanke: Return to original plan
Federal Reserve Chairman Ben Bernanke warned Tuesday that the incoming Obama administration's near $800 billion fiscal stimulus can't repair the nation's damaged economy on its own. He said that to...
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Markets soar on Treasury choice
With financial markets suffering a major relapse and the larger economy reeling, President-elect Barack Obama sought to deliver a message of reassurance Friday by selecting as his treasury secretary the...
Bailout tab hits $700B
The Bush administration asked Congress on Saturday to grant sweeping new powers to the Treasury secretary to buy as much as $700 billion in deeply troubled mortgage-related assets as part...
Banks lag on rate cut after Fed’s lowering
A dozen times since January 2001, the Federal Reserve lowered its key interest rate. A dozen times, banks rushed in lock-step to cut their prime rates as well, providing ever-cheaper...
Deflation would be a real downer
For a half-century, Americans have assumed that when it comes to prices, there is only one direction: up. We railed against this apparent fact when the inflation of the 1970s...
Iraq war cost could soar, Pentagon says
The Pentagon has begun telling the White House and Congress that defeating Iraq and occupying the country for six months could cost as much as $85 billion, according to sources...
Analysis: Congress now likely to be forced to act
Until WorldCom Inc.'s admission that it improperly accounted for $3.9 billion in expenses, the revelations of business misdeeds beginning with Enron's collapse in early December looked as if they would...