The Federal Reserve cut a key interest rate by a quarter point Wednesday, bringing the federal funds rate down to its lowest level since late 2004. The move is intended to help address the ongoing housing slump and credit crunch.

Continue watching

Citigroup Inc. lost $5.1 billion during the first quarter and will eliminate about 9,000 more jobs, as it suffered the impacts of poor bets on mortgages and shaky credit markets.

Continue reading

Recently released economic statistics show the U.S. lost 63,000 jobs in February. An executive at a job placement firm and a former top-level Department of Labor official examine the factors behind these job-market losses and what lies ahead for the…

Continue watching

Billionaire investor Warren Buffett announced Tuesday that he would help shore up three insurance bond firms by offering additional insurance on up to $800 billion in municipal bonds. The Wall Street Journal's David Wessel explains how bond insurers impact Wall…

Continue watching

The Bush Administration and six of the nation's largest banks agreed on a plan Tuesday that would delay some home foreclosures by 30 days, allowing lenders to negotiate more affordable terms. Treasury Secretary Henry Paulson discusses the details of the…

Continue watching

New home sales plummeted last year by the largest amount on record while home prices fell sharply in December. Analysts foresee more trouble this year as the housing market tries to emerge from its worst slump in 20 years.

Continue reading

Federal Reserve Chairman Ben S. Bernanke told lawmakers Thursday it is "critically important" that an economic stimulus package take effect quickly to ward off a recession, recommending the government get cash into peoples' hands as soon as possible.

Continue reading

Bank of America Corp. said Friday that it has agreed to pay $4 billion in stock for Countrywide Financial -- rescuing the battered lender that has come to represent the excesses of the subprime mortgage market.

Continue reading

After a report by Jeffrey Brown on the year in economic news, business writers from across the country reflect on how the ups and downs of the business world have impacted local communities.

Continue watching

U.S. home prices fell in October for the 10th consecutive month, posting their largest monthly drop since early 1991, the widely watched Standard & Poor's/Case-Shiller home price index showed Wednesday.

Continue reading