Economic Crisis | featured news

Sales of previously owned U.S. homes rose at their fastest pace in nearly six years in February, data showed on Monday, providing some good news for the recession hit-economy.

Pension trustees and insurance company portfolio managers look away now. Your increased commitment to government bond holdings in recent times is about to blow up spectacularly. At least, that is the view of Ron Paul, the US congressman who ran against John McCain in last year’s Republican Party presidential nomination.

President Barack Obama is hoping to use comedian Jay Leno's late-night show to add a light touch to his work getting the economy on track. But news photographers who cover the White House aren't laughing.

The Fed dramatically increased the amount of money it will create out of thin air to thaw frozen credit markets.

The vice president says when it comes to spending money from the $787 billion economic stimulus package, 'I'll show up in your city, and tell you it was a stupid idea.'

Investors were buoyed by comments on the US economy from the Federal Reserve chairman Ben Bernanke and sent stocks mostly higher Monday.

President Obama and Treasury Secretary Tim Geithner on Monday will announce administration plans to make lending to small businesses more attractive, two senior administration officials said.

Finance officials from rich and developing countries pledged to boost the role of the International Monetary Fund and make a "sustained effort" to restore global growth after a key conference that sought to bridge deep divisions on how to tackle the financial crisis.

Oilfield services provider Baker Hughes has begun laying off 1,500 workers, or about 4% of its workforce, as part of a second round of cuts resulting from the economic downturn.

Small, rural schools are being threatened as the economy forces deep cuts to education. They're vulnerable because they serve fewer students and cost more per pupil to operate than larger schools.