US Economy - Page 38

Economy News

AP - Is this what a housing bust looks like? New home prices fell last month by the largest amount in 35 years and owners are being warned to brace for further declines, especially in formerly hot markets.

AFP - Prices of new US homes last month staged their biggest fall since 1970, according to data released ahead of growth figures that should confirm a marked downturn overall.

Reuters - Sales of new U.S. homes rose unexpectedly last month as prices posted the biggest drop in nearly 36 years, while orders for durable goods aside from aircraft gained slightly, according to reports on Thursday pointing to a modest pace of economic growth.

Reuters - Former Federal Reserve Chairman Alan Greenspan said on Thursday that both private investors and central banks were shifting away from the U.S. dollar and toward the euro.

Reuters - The number of U.S. workers applying for jobless benefits rose by 8,000 last week to 308,000, in line with expectations and still pointing to a relatively healthy job market, a government report on Thursday showed.

Reuters - New orders for U.S.-made durable goods boomed a much greater-than-expected 7.8 percent in September on a rush of civilian aircraft orders, but rose less than forecast when volatile transportation orders were stripped from the total, a government report showed on Thursday.

Economy News

Reuters - The U.S. Federal Reserve on Wednesday kept its benchmark interest rate steady for a third meeting in a row, predicting moderate economic growth ahead with some reason to expect easing price pressures.

Reuters - The U.S. Federal Reserve on Wednesday kept its benchmark interest rate steady for a third meeting in a row, predicting moderate economic growth ahead with some reason to expect easing price pressures.

AFP - The Federal Reserve kept US borrowing costs on hold for the third meeting running, arguing that lower energy prices should bring down "elevated" inflation.

AP - In further evidence of a sharp slowdown in the once-booming housing market, sales of existing homes fell for a sixth straight month in September and the median sales price dropped by a record amount.

Reuters - U.S. existing home sales slipped for a sixth straight month in September, a real estate group said on Wednesday, underscoring a weak spot in the economy that some analysts think could lead to lower interest rates next year.

AP - The Federal Reserve kept interest rates unchanged on Wednesday for a third consecutive meeting, hoping that a slowing economy will dampen a worrisome rise in inflation.

AP - The Federal Reserve has left a key interest rate unchanged for a third consecutive meeting at 5.25 percent. More Info...  

Reuters - U.S. Federal Reserve officials were universally expected to decide on Wednesday to keep interest rates steady but could heighten a warning on inflation to make clear they will raise rates again if needed.

Economy News

Reuters - U.S. Federal Reserve policy-makers started a two-day meeting on Tuesday that was widely expected to conclude with a decision to hold interest rates steady along with a renewed warning on the risk of inflation.

Economy News FT.com - The Federal Reserve is widely expected to keep US interest rates unchanged at 5¼ per cent on Wednesday and the main focus of attention this week will be the third-quarter gross domestic product data on Friday which could reinvigorate concerns about the possibility of a hard landing for the US economy in 2007. More Info...  

FT.com - The Federal Reserve is widely expected to keep US interest rates unchanged at 5¼ per cent on Wednesday and the main focus of attention this week will be the third-quarter gross domestic product data on Friday which could reinvigorate concerns about the possibility of a hard landing for the US economy in 2007. More Info...  

Reuters - The central bank is expected to hold interest rates steady for the third straight month when it meets on Tuesday and Wednesday and repeat warnings on inflation, even though economists see little chance it will hike again.

Economy News

AP - A modest increase in consumer expectations helped boost a closely watched gauge of future economic activity in September, but not enough to lift the economy out of the doldrums, an industry-backed research group said Thursday.

AP - A modest increase in consumer expectations helped boost a closely watched gauge of future economic activity in September, but not enough to lift the economy out of the doldrums, an industry-backed research group said Thursday.