Economy

Capitol Hill's threats to punish China for undervaluing its currency are starting to aggravate government officials there. They're willing to use China's holdings in U.S. bonds to retaliate, and that could really hurt, Ambrose Evans-Prichard tells us.

The Fed made no mention of doing anything about the shakiness in the economy. Greg McBride from Bankrate.com spoke with Kai Ryssdal about the Fed's statement.

The Federal Open Market Committee held interest rates steady at 5.25% today. But as is usually the case of late, everybody was more interested in what the Fed had to say rather than what it did. Amy Scott reports.

The price of durum wheat, which Italians insist on using for their pasta, is at a level not seen in years. Megan Williams reports that Italians will swallow the increase, but it won't go down easy.

A week after crude oil prices reached record highs, the oil markets are looking as jittery as stocks. Oil traders are hoping the subprime mortgage spill-over doesn't become a gusher. Bob Moon reports.

The Fed meets this week to set short-term interest rates. It's held them steady for more than a year now, but with further signs of a weakening economy, might we be in for a cut? Ashley Milne-Tyte reports.

The announcement that American Home Mortgage will drastically cut operations and lay off 7,000 may be just the beginning of a crisis in the U.S. lending market. Steve Henn reports on how deep the problem goes.

China has been accused of keeping the value of its currency low to bolster exports. Cheap goods help U.S. retailers but can hurt manufacturers. Jill Barshay reports on the battle in Congress over protectionist measures.

The Senate passed a bill that would make it easier to label China as a currency manipulator. Jill Barshay reports the Bush Administration isn't pleased with the China currency bills floating around.

As credit tightens in the wake of the subprime lending crisis, some analysts warn that it could impact lending in other areas. And that's one more risk factor on the recession pile. Steve Tripoli reports.