The observation of former Federal Reserve Chairman Alan Greenspan that oil was a big reason for invading Iraq is causing war opponents to say, 'A-ha! It was blood for oil.' ...more

September 20, 2007

In a bold strike, the Federal Reserve slashed a key interest rate by a half point Tuesday - the first cut in more than four years - and left the door open to further relief to prevent a painful housing slump and jarring credit crunch from driving the country into recession. ...more

September 18, 2007

Federal Reserve Chairman Ben Bernanke is grappling with what predecessor Alan Greenspan might call a conundrum. ...more

September 17, 2007

Alan Greenspan, who served as Federal Reserve Chairman for 18 years and was the leading Republican economist for the past three decades, levels unusually harsh criticism at President Bush and the Republican Party in his new book, arguing that Bush abandoned the central conservative principle of fiscal restraint. ...more

September 15, 2007

Former Federal Reserve Chairman Alan Greenspan acknowledges he failed to see early on that an explosion of mortgages to people with questionable credit histories could pose a danger to the economy. ...more

September 14, 2007

Federal Reserve Chairman Ben Bernanke said Tuesday that heavy saving by oil producers and Asian nations has helped depress interest rates by keeping financial markets flush with cash. But he warned against banking on this effect - one that probably helped create the current financial crisis - for the long term. ...more

September 12, 2007

For the first time in four years, employers have cut jobs, raising new fears that a deep housing slump and painful credit crunch could push the economy into a recession. ...more

September 8, 2007

Homeowners struggling to deal with sharp increases in their adjustable mortgage payments got hit with a record number of foreclosure notices in the spring as the crisis in subprime lending intensified. ...more

September 7, 2007

Wall Street extended its rebound from the big summer slump Tuesday after dips in manufacturing growth and construction spending raised investors' hopes for an interest rate cut. ...more

September 5, 2007