Jul 31
In an interview on CNBC, Former Federal Chairman Alan
Greenspan warned that if the Federal Reserve is given a role to
oversee the financial system it could undermine its credibility.
Jul 31
Freddie Mac today told mortgage servicers it was
doubling the amount of money it pays for each workout
that keeps a delinquent borrower with a Freddie Mac-owned mortgage out of
foreclosure.
Jul 31
Speaking before the Exchequer Club of Washington, U.S. Treasury
Secretary Henry Paulson said the stimulus package has
supported the economy in the last year.
Jul 31
Zimbabwe is the latest example of what happens when inflation spirals
out of control to the point of hyperinflation. With the highest rate of
inflation in the world - about 2.2 million per cent -
Zimbabwe last week issued a Z$100 billion note, though still not enough
to buy a loaf of bread, which is roughly double the price.
Jul 31
The advance U.S. GDP report came in lower than
expected for the second quarter of 2008, rising by 1.9% against
expectations of 2.3% growth, according to the Bureau of Economic Analysis
on Thursday. Revisions showed the U.S. economy shrank 0.2% in the fourth
quarter 2007.
Jul 31
The ISM-Chicago business barometer bounced into
growth mode in July following five months of slowdown. The growth was led
by advances in production and new orders, even as prices hit a 28-year
high and employment remained in contraction for the eighth straight
month.
Jul 31
Economists say the reported 1.9% GDP growth for the second quarter of
2008 was boosted by a 1.5% increase in consumption and a 2.4% gain in net
exports. The figure was lower than expectations, however, as inventories
saw a sharp reduction.