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- Tea partiers turn on Capitol Hill budget deal
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Latest Mario Draghi Items
Europe's economy is still reeling and unemployment could remain high for years despite the progress made in solving the debt crisis, the European Union warned Wednesday, as it downgraded next year's forecasts for the 27-country bloc.
A quiet day on Wall Street turned into the worst sell-off in three months after a Federal Reserve official said he doubted the bank's effort to boost economic growth would work.
Greece may get more time to cut its budget, its creditors indicated Friday in another sign of increasing flexibility and optimism across the 17 countries that use the euro, while Spain appeared to be inching closer to making a formal request for financial assistance.
Wall Street surged Thursday to multiyear highs after the European Central Bank provided more information about an unlimited bond-buying program that could save troubled countries from leaving the eurozone, possibly preventing another global recession from reaching the U.S.
European Central Bank President Mario Draghi on Thursday unveiled a long-awaited program to buy up bonds and help bring down the borrowing costs of Europe's struggling governments.
Stocks slipped Monday in one of the quietest trading sessions of the year. Worries about European debt crept up again, and Apple became the most valuable company of all time.
The economy continues to drag, and policymakers refuse to do what it takes to restore prosperity. The official unemployment number climbed to 8.3 percent, and the broadest measure of joblessness, known as the U6, increased to 15 percent for July. Economic growth is stalled at 1.5 percent.
A swing and a miss or more like several at bat were had this week in terms of the central banks. I'm talking about both the Federal Reserve and the European Central Bank (ECB), both of which stand ready to do something, just not yet.
The European Central Bank is preparing to unleash its financial might and buy government bonds to help drive down borrowing costs in debt-ridden countries like Spain and Italy, caught in the grip of what president Mario Draghi called a "worsening crisis."