The Fed and it's Chairman Ben Bernanke showed Wall Street some love by cutting the key federal funds rate by a half a percentage point. Tess Vigeland talks with Peter Morici about what the rate cut may mean to the average consumer.
The White House, the Federal Reserve and Congress all have a plan to get us out of the subprime mess. Jeff Tyler goes over a few of the proposals to see which ones might stick.
Treasury Secretary Henry Paulson let it be known today that the White House has decided to consider letting Fannie Mae and Freddie Mac buy up jumbo loans, something it's been opposed to. And Fed Chairman Ben Bernanke added it better happen soon. Steve Tripoli reports.
For the first time in almost a year the Consumer Price Index dropped in August. Roll that in with the reported drop in wholesale prices and it's a nifty economic shapshot, no? But Jill Barshay reports the picture's actually not so clear.
The Fed's move to lower the lending rate has critics worried about inflation. Doug Krizner talks to Adrian Ash of London gold-trading firm BullionVault, who says that prices are rising.
It was no surprise that the Federal Reserve cut interest rates today. But what really caught people unawares was what rates it cut — and by how much. Amy Scott reports.
In the last year, the number of warning letters sent to troubled mortgage-holders increased 115 percent. Steve Henn reports this may just be the beginning.
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.
