Consumer sentiment dips going into holidays (Reuters)
Reuters - U.S. consumer sentiment slipped in December but was not far from the year's highs, a report said on Friday, suggesting Americans were guardedly optimistic about the economy in the holiday season.
Regions
Fed leaves key rate unchanged (AP)
2008.09.16By MARTIN CRUTSINGER, AP Economics Writer 4 minutes ago
WASHINGTON - The Federal Reserve kept a key interest rate unchanged Tuesday, saying that strains in financial markets have "increased significantly" but the inflation outlook remains uncertain.
The Fed's action was a disappointment to investors who were hoping that severe stress in financial markets that surfaced in recent days would prompt the central bank to resume cutting interest rates.
The central bank said it was keeping its target for the federal funds rate, the interest that banks charge on overnight loans, unchanged at 2 percent.
In a statement, the Fed said "strains in financial markets have increased significantly and labor markets have weakened further."
However, the central bank said it also remained concerned about inflation pressures.
"The downside risks to growth and the upside risks to inflation are both of significant concern to the committee," the Fed officials said.
Regions : Americas
More articles on this topic:
November housing starts up (Reuters)
Reuters - The pace of U.S. home building rose in November as new home starts climbed 6.7 percent, rebounding from a sharp decline in October while building permits fell 3 percent, a government report showed on Tuesday.
Reuters - The pace of U.S. home building rose in November as new home starts climbed 6.7 percent, rebounding from a sharp decline in October while building permits fell 3 percent, a government report showed on Tuesday.
US GDP revised down to show 2.0 percent growth pace (AFP)
AFP - US economic growth has been a bit more sluggish than earlier estimated in the third quarter, growing at a 2.0 percent annualized pace, according to revised data.
AFP - US economic growth has been a bit more sluggish than earlier estimated in the third quarter, growing at a 2.0 percent annualized pace, according to revised data.
Consumers boost buying during holidays (AP)
AP - Keeping the nation's cash registers ringing, consumers boosted their spending in November by the largest amount in four months, raising hopes shoppers will act more like Santas than Scrooges during the holidays.
AP - Keeping the nation's cash registers ringing, consumers boosted their spending in November by the largest amount in four months, raising hopes shoppers will act more like Santas than Scrooges during the holidays.
Consumer confidence ebbs, boosts rate hopes (Reuters)
Reuters - U.S. consumer confidence ebbed in December, while a key measure of inflation held steady in November for first time in four years, boosting the chances of Federal Reserve interest rate cuts in 2007.
Reuters - U.S. consumer confidence ebbed in December, while a key measure of inflation held steady in November for first time in four years, boosting the chances of Federal Reserve interest rate cuts in 2007.
