Oil prices on Thursday hit levels not seen in more than three years and retail gasoline prices are now below $2 across nearly half of the country on dour economic reports suggesting a painful economic pullback. ...more

November 21, 2008

The Federal Reserve and six major central banks worldwide cut interest rates Wednesday to prevent a financial crisis from becoming a global economic meltdown. The Fed cut its key rate from 2 percent to 1.5 percent. Bank of England cut its rate half a point to 4.5 percent. European Central Bank cut its rate by half a point to 3.75 percent. Central banks of China, Canada, Sweden and Switzerland also cut rates. ...more

October 9, 2008

After the House reversed course and gave final approval to the $700 billion economic bailout package, President Bush quickly signed it into law Friday, authorizing the Treasury to undertake what could become the most expensive government intervention in history. ...more

October 4, 2008