Momentum increased Monday for a new economic stimulus package to help cash-strapped Americans as President Bush and Federal Reserve Chairman Ben Bernanke threw their weight behind an idea they earlier opposed.
Wild gyrations on Wall Street, a loss of confidence in the U.S. banking system and worries the economy will be weak for some time are raising Americans’ anxiety level.
Wall Street remained tense Thursday, extending its huge slide as investors examined mixed economic and earnings data for clues about the economy. The Dow Jones industrials fell more than 170 points, and all the major indexes were seeing wide swings.
Leaders of the Group of Eight major industrial countries said Wednesday they will meet “in the near future” for a global summit to tackle the financial crisis.
The Last Straw for McCain John McCain finds himself in a precarious but familiar position heading into Wednesday evening’s final presidential debate. Senator Barack Obama has decisive leads in several stronghold states, and in states that typically favored Republicans, polls indicate he is running close to Sen. McCain, within a few percentage points or even. […]
The country hit fresh economic potholes Wednesday as President Bush sought to reassure anxious Americans that the government’s latest rescue plan will eventually bring relief.
President Bush on Tuesday announced a $250 billion plan by the government to directly buy shares in the nation’s leading banks, saying the drastic steps were “not intended to take over the free market but to preserve it.”
Barack Obama unveiled a new economic rescue plan to the country today. He highlighted the need for more jobs, a competitive market, allowances for homeowners not to lose their homes and ways for people to invest in small businesses and start-ups.
Democratic nominee Barack Obama on Monday called for more immediate steps to heal the nation’s ailing economy, proposing a 90-day moratorium on home foreclosures at some banks and a two-year tax break for businesses that create new jobs.
President Bush said Friday that the government’s financial rescue plan was aggressive enough and big enough to work, but would take time to fully kick in. “We can solve this crisis and we will,” he said in brief remarks from the White House Rose Garden.
The world economy will slow sharply this year and next, with the United States likely sliding into recession reflecting mounting damage from the most dangerous financial jolt in more than a half-century.
Federal Reserve Chairman Ben Bernanke warned Tuesday that the financial crisis has not only darkened the country’s current economic performance but also could prolong the pain.
