August wholesale prices had their biggest drop in 10 months, making an interest rate cut possibly more attractive to the Fed. But what will it help? Scott Jagow talked to Jamie Chisholm of the Financial Times.
From the Fed meeting rate cuts to August's wholesale prices report, there's a lot for the markets to digest today. Doug Krizner talked to ING Group chief economist Mark Cliffe in London about these numbers and the subprime effect in Europe.
Former Fed chief Alan Greenspan is making the rounds plugging his new memoir and commenting on the economy. But when it comes to getting his views on the threat of recession? You still need to check and re-check.
Whatever the Federal Reserve annnounces for its expected interest-rate cut tomorrow, the housing meltdown and the credit crunch might have too big of a headstart for it to make much difference. Jeff Tyler reports.
Thousands of Northern Rock customers lined up in branches around England over the weekend to withdraw their money from the credit-crunched bank. Stephen Beard told Scott Jagow it was reminiscent of another bank run from decades before.
Alan Greenspan is on tour in support of his memoir, "The Age of Turbulence," in which he describes how he managed market crises over 18 years. But some economists think he may have encouraged the tumultuous ride. Jill Barshay reports.
The Bank of England stepped in with an offer of emergency credit today to bail out Northern Rock, one of the U.K.'s biggest mortgage companies. Stephen Beard reports it's just the latest sign the global liquidity squeeze might not yet be contained.