economics editor

President-elect Barack Obama is expected to announce the top players on his economics team Monday. Among them is Tim Geithner, the president of the New York Federal Reserve Bank, as Treasury Secretary.

David Wessel, economics editor of The Wall Street Journal, says that pick would indicate Obama doesn't want to abruptly change the direction of the bailout.

The economic news just keeps getting worse. The stock market is at its lowest level in more than five years.

The number of homes being built continues its downward spiral. Retailers are predicting a miserable holiday season.

David Wessel, economics editor at The Wall Street Journal, talks with Steve Inskeep about whether the bottom is anywhere in sight.

The Federal Reserve is expected to cut interest rates Wednesday by at least a half-percentage point to 1 percent.

Economists believe the Fed will cut rates because of the current financial turmoil and fears that there might be a prolonged recession.

David Wessel, economics editor at The Wall Street Journal talks with Renee Montagne about the health of the economy.

There are increasing signs that frozen credit markets are thawing, and Federal Reserve Chairman Ben Bernanke says he could support another stimulus package.

David Wessel, economics editor of The Wall Street Journal, talks about whether another stimulus package can stave off a recession.

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Wall Street and the White House were shocked when the House failed to pass the financial sector bailout plan.

Stock markets regained some ground Tuesday. The financial sector is hoping the Senate can pass a rescue package this week.

David Wessel, economics editor of The Wall Street Journal, says the trick will be to get the necessary votes in the House.

Lawmakers return to Capitol Hill Friday for more negotiations on the Wall Street rescue package. A deal in principal fell through Thursday.

David Wessel, economics editor at The Wall Street Journal, talks with Steve Inskeep about why the earlier deal broke down.

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The Federal Reserve said Tuesday it would lend American International Group $85 billion to help stave off a financial crisis worldwide.

In return, the government gets a major stake in the company. "It's almost like French-style capitalism here in the U.S.," says David Wessel, economics editor of The Wall Street Journal.

The Bush administration Sunday seized the two housing lenders that together own or guarantee about half the nation's home loans.

But the Treasury Secretary did not say what it thinks should happen next, says David Wessel, economics editor of The Wall Street Journal.

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David Wessel, economics editor of The Wall Street Journal, talks about the beleaguered housing finance companies Fannie Mae and Freddie Mac.

"If they get bailed out, then mortgages are easier to get than if they go under, and that's what this is all about," he says.

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Banks are failing as a result of the housing crisis, and a former chief economist with the International Monetary Fund predicted Tuesday that the global financial crisis is far from over.

David Wessel, economics editor of The Wall Street Journal, talks about what happens to people with money in a bank that fails.