Archive for the ‘Money’ Category

U.S. employers slashed jobs on their payrolls for the third straight month in March, the longest period of declines since early 2003, while unemployment rose to a nearly three-year high, two more signs that the economy has fallen into a recession.

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Demand for new homes may not return to normal levels until next decade, according to the latest outlook from the National Association of Home Builders.

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The Senate took a long, hard look at JPMorgan Chase’s planned purchase of Bear Stearns on Thursday, grilling both executives and federal regulators who helped shepherd the controversial deal.

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As gas prices hit another record high Thursday, senators in Washington suggested Congress may need to intervene and change how investors buy and sell oil.

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Federal Reserve Chairman Ben Bernanke, in his most pessimistic and blunt assessment to date, said Wednesday that a “recession is possible” for the U.S. economy.

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Federal regulators and top executives at JPMorgan Chase and Bear Stearns told lawmakers Thursday that the 11th-hour deal between the two firms prevented a collapse that could have inflicted serious damage to the American financial system and the broader economy.

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Was Tuesday’s explosive market rally just another head fake or have investors finally shifted from dreading the recession to anticipating the recovery?

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