Reuters - U.S. Treasury Secretary Henry
Paulson said the nation's four biggest banks were ready to
kick-start a market for covered bonds that could help
significantly expand home mortgage financing.
AP - Franca Tantillo puts rising fuel prices in the same category as the springtime hail storm that wiped out part of her strawberry crop. Both cut into the profit she can make at the farmers markets she sells at in New York City, about 135 miles south of her farm.
Reuters - The Bush administration on Monday
projected the U.S. budget deficit will soar to a new record of
nearly half a trillion dollars in fiscal 2009 as a housing-led
economic slowdown cuts into government revenues.
Reuters - U.S. presidential candidate Barack
Obama gave a vote of confidence to Federal Reserve Chairman Ben
Bernanke, saying he had made some good decisions in difficult
circumstances.
The Christian Science Monitor - When the price of gasoline crested over $4 a gallon, it threw a bucket of cold water on the economy: Americans scaled back their driving, parked the SUV, and even cut back their spending at the mall. -- read full article
AP - The dollar fell against the 15-nation euro Monday despite a report showing consumer confidence falling to a more-than five-year low in Germany, Europe's largest economy. -- read full article
Reuters - Presidential candidate Barack Obama
gave a vote of confidence to Federal Reserve Chairman Ben
Bernanke, saying he had made some good decisions in difficult
circumstances.
Reuters - Presidential candidate Barack Obama
gave a vote of confidence to Federal Reserve Chairman Ben
Bernanke, saying he had made some good decisions in difficult
circumstances.
AP - Wall Street ended a volatile week with uneven gains Friday after better-than-expected economic data placated a market pummeled a day earlier by concerns about housing and the financial sector.
AFP - New US home sales ticked down in June, government data showed Friday, but the better-than-expected figures sparked a glint of hope that the worst housing slump in decades may be scraping bottom.
Reuters - Stocks rose on Friday as a drop in oil
prices, and stronger-than-expected data on consumer sentiment
and housing blunted the latest concerns about the health of U.S
banks.