WASHINGTON (AP) - The Federal Reserve, which began the year aggressively fighting a severe credit crunch and economic weakness, may push the pause button after delivering perhaps one more quarter-point cut in interest rates.
Fed Chairman Ben Bernanke and his colleagues began their second day of discussions on Wednesday. Financial markets widely expected that those talks […]
It’s been almost an article of faith: Any recession this year will be mild and brief. But now the stunning meltdown of a top Wall Street investment bank and stubbornly persistent financial market turbulence has called that into question, raising fears that severe problems in housing and the nation’s bedrock financial system could cripple the […]
NEW YORK (AP) - The dollar fell against most major currencies on Wednesday, including a new low against the euro, which fetched $1.55, as skepticism grew over the latest U.S. Federal Reserve Bank plan to restore calm to jittery global credit markets.
The Fed on Tuesday unveiled a rescue package that would direct as much as […]