Consumers slashed their borrowing in July by the largest amount on record as job losses and uncertainty about the economic recovery prompted Americans to rein in their debt.
Consumers slash borrowing by record amount
Consumers slashed their borrowing in July by the largest amount on record as job losses and uncertainty about the economic recovery prompted Americans to rein in their debt.
China urges US to handle debt responsibly
China's central bank governor urged Washington to handle its debt responsibly, warning Wednesday that uncertainty in the market for Treasury debt might harm a global economic recovery.
Renewed housing drop weighs on economy
With job growth just beginning to rebound and consumers gloomy about their prospects, a “double dip” in housing could put the wider economic recovery at risk. By John W SChoen.
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