OPEC president says he favors cutting oil output...
Crude May Rise to $120...
Bernanke says more needs to be done to prevent home foreclosures...
The Federal Reserve's rescue has failed: The verdict is in. The Fed's emergency rate cuts in January have failed to halt the downward spiral towards a full-blown debt deflation. Much more drastic action will be needed.
Dollar at low on economy worries: The US dollar fell to an all-time low against the euro Monay, oil surged to new highs and Asian and European shares slipped back on fears of a US recession and further fallout from the global credit crisis.
Markets tumble on U.S. recession fears: European and Asian stock markets tumbled Monday as investors reacted nervously to a steep decline on Wall Street Friday after disappointing economic and corporate news rekindled worries about a U.S. recession.
Warren Buffett says U.S. in recession: Billionaire Warren Buffett said Monday he believes the United States economy is in a recession, based on what he is seeing from the businesses owned by his holding company, Berkshire Hathaway.
U.S. Mortgage Rates Will Tumble to Four-Decade Low: Freddie Mac, the world's second- largest mortgage buyer, said the average U.S. fixed mortgage rate in 2008 probably will tumble more than three-quarters of a percentage point to the lowest in at least 45 years.
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