Commerce Department

Obama Names GOP's Gregg for Commerce Post

By PBS News Hour

President Barack Obama named a third prominent Republican to his Cabinet Tuesday, selecting Sen. Judd Gregg of New Hampshire as his replacement pick for commerce secretary.

Stimulus Package Goes to Senate as Signs of Economic Downturn Continue

By Admin, PBS News Hour

The Democratic-controlled House of Representatives passed President Barack Obama's $819 billion economic stimulus package by a vote of 244-188 Wednesday, amid continuing signs of the U.S. economic downturn.

Consumer Spending, Durables Goods Orders Drop as Jobless Claims Rise

By PBS News Hour

The Commerce Department reported Wednesday that consumer spending fell for a fifth straight month in November, and Americans' incomes dropped as well, partially reflecting massive job layoffs.

For Ninth Time in a Year, Fed Chops Key Rate Again to 1 Percent

By Admin, PBS News Hour

As expected, the Federal Reserve slashed a key interest rate Wednesday afternoon by half a percentage point as it seeks to revive an economy hit by a long list of maladies stemming from the most severe financial crisis in decades.

U.S. Markets Plummet, Global Indicators Slide Amid Recession Fears

By PBS News Hour

After a two-day rally, U.S. stock prices plunged Wednesday as investors worldwide expressed concerns the global efforts to inject liquidity and restore confidence to the battered financial system may not be enough to stave off a widespread recession.

Reports: High Unemployment, Low Manufacturing

By PBS News Hour

Stocks dropped early in trading Thursday after the government reported that the number of people seeking unemployment benefits rose to a seven-year high and that orders for manufactured goods dropped by 4 percent in August.

Wholesale Inflation Rises, Home Construction Falls

By Admin, PBS News Hour

Wholesale inflation surged in July, leaving prices for the past year rising at the fastest pace in 27 years, while construction of homes and apartments fell to the lowest level in more than 17 years, the government reported Tuesday.

Sagging Interest in Motor Vehicles Drives July Retail Sales Down

By PBS News Hour

Driven down by sagging demand for vehicles, U.S. retail sales had their worst showing in five months in July, according to newly released government figures.

Federal Reserve Trims Key Interest Rate

By Admin, PBS News Hour

In a smaller move than in past months, the Federal Reserve cut a key interest rate by a quarter percentage point Wednesday in what could be the last in a line of reductions aimed at boosting an economy hit hard…

Inflation Grew in Jan., Led by Food, Health Costs

By PBS News Hour

Inflation jumped by a bigger-than-expected amount in January, with large increases in the cost of food and health care, the government reported Wednesday.