Alan Greenspan: 'We have a stock market bubble'

Alan Greenspan: 'We have a stock market bubble'

Alan Greenspan is sounding the alarm about the booming stock market.
"There are two bubbles: We have a stock market bubble, and we have a bond market bubble," the former Federal Reserve chairman told Bloomberg TV on Wednesday.

The trouble in the bond market "will eventually be the critical issue," Greenspan said, adding that "for the short term it's not too bad."

Read More

Pending home sales eke out 0.5 percent gain in December as supply shrinks to record low

Pending home sales eke out 0.5 percent gain in December as supply shrinks to record low
  • The supply crisis is hitting housing hard, as strong demand quickly eats up what few listings there are.
  • Home shoppers signed 0.5 percent more contracts to buy existing homes in December compared with November, according to the National Association of Realtors.
  • The supply of homes for sale at the end of December fell to the lowest level since the Realtors began tracking it in 1999.
Read More

Fed holds interest rates at Yellen's last meeting as chair, sees inflation picking up

Fed holds interest rates at Yellen's last meeting as chair, sees inflation picking up
  • The Federal Reserve left its benchmark interest rate unchanged, as expected, at Janet Yellen's final meeting as chair. 
  • Inflation should stabilize around its 2% target this year, the Fed said, in an update to its previous language on one of its mandates. 
  • Traders expect the next rate hike in March, during the first meeting with Jerome Powell as Fed Chairman.
Read More

Economists Are Saying We Will Have A Happy — Really Happy — New Year

Economists Are Saying We Will Have A Happy — Really Happy — New Year

It's New Year's Day, so it's time for football, hangovers, resolutions — and forecasts.

With the first three, you're on your own. But for forecasts, we have economists to help. They get paid to peer into the future, and in general, they are seeing good times ahead, thanks to an upbeat business cycle.

Read More