Now-Chair Janet Yellen fretted about wrong incentives created by Wall Street pay structure. Many underestimated the effect of the Lehman Bros. failure. These and other insights come from Fed meeting transcripts, released Friday, of that tumultuous year.
The US saw yet another lackluster jobs report in January, with the economy adding 113,000 jobs when 185,000 were expected. Faced with a high unemployment rate and even higher student debt, the youngest group of adults don't appear overly discouraged. Instead, they're becoming more inventive.
Puerto Rico credit rating was dpwngraded to 'junk' status, prompting Governor Padilla to order budget cuts for government agencies. News of Puerto Rico's credit being downgraded caused its yields on the S&P 500 to rise Wednesday.
Congress's newly approved farm bill cuts $8 billion from food stamps over a decade, barely 1 percent a year. Low-income households in 16 states will feel the effect the most. Why is that (and answers to other FAQs)?
Working-age people are now the majority recipients of food stamps, replacing children and seniors as the traditional primary beneficiaries, a new analysis shows. Federal spending on food stamps has doubled since 2008.
Fears of slower growth in China, weaker earnings in US, higher interest rates, and economic woes from Argentina to Turkey cause stocks and emerging market currencies to plummet. Stock market jitters coincide with global shift as developed economies improve while emerging markets slow.