Leading economists have boosted their outlook for interest rates on benchmark Treasury debt in tandem with rising expectations for growth in the world's largest economy, a Reuters poll found on Friday. The forecasts for stronger growth came despite a disappointing U.S. payrolls report, which showed employers hired less workers than expected in December, although the unemployment rate ticked lower...
Republicans acknowledged on Thursday they will have to sign off on more deficit spending to avoid a debt default that would roil financial markets and bring the government to a grinding halt.
U.S. Treasury Secretary Timothy Geithner on Thursday stepped up pressure on Republican lawmakers to raise the nation's $14.3 trillion debt limit, warning failure to act would lead to an economic catastrophe.
Six bank holding companies repaid a total of $2.7 billion in federal bailout funds they received during the financial crisis, the Treasury Department said on Wednesday.
The U.S. government fell deeper into the red in fiscal 2010 with net liabilities swelling more than $2 trillion as commitments on government debt and federal benefits rose, a U.S. Treasury report showed on Tuesday.
An Obama administration task force examining allegations of fraud in the mortgage foreclosure process will deliver its findings next month, two top officials said on Monday.
The Federal Reserve does not believe any one hedge fund can topple the financial system and therefore the private pools of capital may escape direct supervision by the central bank, an industry source familiar with the Fed's position said.
The U.S. Congress gave final approval late on Thursday to the deal President Barack Obama and Republicans made to extend expiring tax cuts -- a high-stakes gamble to create jobs at a cost of deepening the U.S. debt.
Fannie Mae and Freddie Mac should make use of Obama administration programs to help borrowers who owe more than their home is worth by writing down principal, U.S. Treasury Secretary Timothy Geithner said on Thursday.
The price of corporate bailouts in 2008 and 2009 looks cheap compared to past crises, U.S. Treasury Secretary Timothy Geithner said on Thursday, while urging more drastic action from housing finance giants Fannie Mae and Freddie Mac to help homeowners.
With American businesses holding nearly $2 trillion on their books, President Barack Obama said on Wednesday that a meeting with corporate executives of 20 of the largest U.S. companies will help elicit a variety of ideas to grow the economy and boost jobs amid an anemic recovery.
Rules that have the potential to slash banks' debit card profits and stop traders from excessive speculation in oil and other commodity markets will be unveiled by U.S. regulators this week.
Rules that have the potential to slash banks' debit card profits and stop traders from excessive speculation in oil and other commodity markets will be unveiled by U.S. regulators this week.
The Senate will vote on two Democratic options to extend some Bush-era tax cuts on Saturday, its Democratic leader said, measures likely to fail but highlight deep ideological divisions between the parties.
While negotiators for both political parties worked behind the scenes to hammer out a deal on extending the Bush-era tax cuts and, possibly, unemployment insurance, House Democrats pushed through a measure that would extend the tax cuts for individuals making less than $200,000 and married couples making less than $250,000.
The House of Representatives, in the waning days of Democratic control, passed an extension on Thursday of Bush-era tax cuts for the lower and middle classes in a symbolic vote that would let tax cuts for the wealthiest expire.
The American people did not vote for political gridlock in Washington, according to President Barack Obama who today met with Congressional leaders from both parties to discuss what they consider the main components of the national agenda.
The U.S. government may take a loss on its $49.9 billion investment in the company if the share price remains at its $33.
A major question emerging here in Seoul on the final day of the G-20 Summit, as world leaders personally powwow on global dilemmas, is this: Can the U.S. and China play nice?
U.S. President Barack Obama said the G20 economies have been successful in putting the world economy back on the path of recovery, but admitted that the progress was not fast enough as expected, especially in creating more jobs.
Moody's Investor Service upgraded China's 3 big policy banks and Chinese government's bond rating to Aa3 from A1.
G20 leaders say they want nations to coordinate economic policy, but even the host country is looking out for number one.
