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Related Debt News for our Ernest PA visitors

AP - Federal Reserve Chairman Ben Bernanke said Monday that further interest-rate cuts are "certainly feasible," but he warned there are limits to how much such action would revive an economy likely to stay weak well into next year.

AFP - The Federal Reserve has limited scope to cut interest rates further to stimulate the economy but other tools are available, such as the purchase of long-term Treasury securities, chairman Ben Bernanke said Monday.

AP - The U.S. economy has been in a recession since December 2007, the National Bureau of Economic Research said Monday.

Reuters - The U.S. economy has slumped into a recession, the nation's business cycle arbiter declared on Monday, while European leaders clashed over how much public money to spend tackling a deepening downturn.

AP - Oil prices tumbled below $50 a barrel Monday as National Bureau of Economic Research reported that the U.S. economy has been in a recession since December 2007.

AFP - US manufacturing slumped to a 26-year low in November, highlighting the abrupt downturn in the world's biggest economy, a survey showed Monday.

Reuters - Federal Reserve Chairman Ben Bernanke warned on Monday that the U.S. economy remained under considerable strain and said policy-makers must be ready to take decisive action to protect jobs and growth.

Reuters - Democrats in the House of Representatives likely will seek passage next month of an economic stimulus bill costing about $500 billion, a House Democratic aide said on Monday.

AP - Construction spending fell by a larger-than-expected amount in October, another indication that problems facing the builders of homes, hotels and other projects are deepening and likely to persist.

AFP - The US economy has been in recession since December 2007, a panel of economists charged with the official designation of business cycles said Monday.

Reuters - The economy slipped into recession in December 2007, the National Bureau of Economic Research, the prestigious private research institute that is regarded as the arbiter of U.S. recessions, declared on Monday.

AP - President George W. Bush expressed remorse that the global financial crisis has cost jobs and harmed retirement accounts and said he'll back more government intervention if needed to ease the recession.

AFP - US and European stocks plunged on Monday as weak economic data pointed to a looming global recession, dashing hopes of a quick recovery in equity prices after the gains of last week.

Reuters - The Federal Reserve will lower its policy rate to zero percent by January in its attempt to avert a prolonged recession and to revive the struggling credit market, according to J.P. Morgan Securities analysts.

Reuters - Car makers reported tumbling sales across Asia and Europe Monday as the recession drove buyers from showrooms and drew a warning of more gloom for next year.

Reuters - House of Representatives Speaker Nancy Pelosi met leading governors on Monday to discuss the size and shape of an economic stimulus package she hopes Barack Obama can sign when he becomes president on January 20.

AP - The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents.