While it takes two quarters of economic contraction for most economists to call a recession, one of those quarters is now in the record books. That follows an announcement from the Commerce Department today, the nation's Gross Domestic Product, the...
The Federal Reserve's interest rate setting arm has wrapped up a two-day meeting in Washington, putting in place another big cut in interest rates as it seeks to boost the lagging economy. Fed policymakers by unanimous vote opted to cut short-term r...
Investors jumped back into the market in a big way today. Bargain hunters moving into snap up stocks help propel both the Dow Jones Industrial Average and the broader SP 500 to more than 10% gains. Michael Farr is with the investment firm Farr Mille...
Alaska Senator Ted Stevens has been convicted on all counts against him at his corruption trial in Washington. The longest-serving Republican in the Senate could face up to five years in prison for each of the seven counts he was found guilty on. St...
Democratic presidential nominee Barack Obama is stepping up his effort to link his GOP opponent with President Bush's policies. Obama drew a crowd of tens of thousands of people to a rally this afternoon in downtown Denver, as NPR's Don Gonyea repor...
Asian and European leaders have wrapped up a meeting in Beijing at which they agreed on ways to address the global financial crisis. They planned to present their ideas at a summit to be hosted by the United States next month. NPR's Louisa Lim repor...
The Markets dropped again today. The Dow Jones Industrials fell 3. 5%. The NASDAQ and SP were also down more than 3% today. NPR's Yuki Noguchi has more. A few months ago, a 300-point-drop in the Dow would have been a very bad day, but given the setu...
The Bush administration and Federal regulators are working on a plan to ease pressure on homeowners facing foreclosure. NPR's Giles Snyder has more. A parade of Federal regulators were on Capitol Hill today including Sheila Bair--the Chair of the Fe...
World markets went back into retreat today, amid a slew of disappointing corporate earnings showing the extent to which many financial firms and other companies have been hurt by the current financial crisis. Fears about the economy have become a ma...
Republican presidential candidate John McCain is campaigning in Pennsylvania today. NPR's Mara Liasson reports. Obama has a solid lead in Pennsylvania but McCain is still battling to turn Pennsylvania red. If he is to pull an upset, he'll have to ta...
It now appears the Bush administration is having a change of heart when it comes to the idea of a second economic stimulus package aimed at boosting the economy. Both Fed Chairman Ben Bernanke and President Bush said today that they are more open to...
Democratic presidential nominee Barack Obama got a major boost today as he was endorsed by former Secretary of State Colin Powell. NPR's Jamie Tarabay has more. The retired general told NBC's Meet the Press he plans to vote for Obama on November 4....
President Bush is conferring at Camp David with the presidents of France and the European Commission about the global financial crisis, and plans for a summit of world leaders to be held in the US in the coming weeks. NPR's Curt Nickisch has more. P...
US stock markets swung between positive and negative territory dozens of times throughout the day and at the close, the main indices were lower. Traders clearly didn't take the advice of super investor Warren Buffet to buy American stocks. NPR's Joh...
Wall Street reversed yesterday's course and today ended trading up more than 400 points. Investors were buoyed by a Labor Department report showing the Consumer Price Index steady in September, and oil prices slid to their lowest level in more than...
