Archive for August 5th, 2008

The dollar remained at its highest level in nearly seven weeks against the 15-country euro Tuesday after the Federal Reserve's decision to hold a key interest rate at 2%, although the U.S. currency edged off its highs.

Merrill Lynch's fire sale of toxic mortgage debt last week has generated hopeful discussion about the beginning of the end of the credit crisis being at hand.

Treasury prices dipped on Tuesday after the Federal Reserve announced its decision to hold the key federal funds rate steady at 2%, a move that most traders were expecting. However, the statement from the Fed indicated much more concern about the threat of inflation than was expected.

Oil prices fell Tuesday, trading near $119 a barrel after the Federal Reserve held its key interest rate at 2%.

It's not just the average Joe suffering as the U.S. economy heads south. Some folks at the top - especially these 10 - are feeling the pain, too.

Elizabeth "Betsy" Duke, the newest addition to the Federal Reserve's chief policymaking group, is a lifelong commercial banker who many Fed watchers hope can balance out a board riven by inflation pressures, a weakened Wall Street, and a slowing economy.

Several major airlines are planning to soon start offering Wi-Fi access to their passengers.

Several major airlines are planning to soon start offering Wi-Fi access to their passengers.