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New England braces for Hanna's drenching rains- Southern New England is bracing for drenching rain and gusts near 50 mph as Tropical Storm Hanna runs up the Eastern Seaboard.
Powerful storm raises fears from Caribbean to Gulf- "Extremely dangerous" Hurricane Ike grew to fierce Category 4 strength Saturday as it roared on an uncertain path that forced millions from the Caribbean to Florida, and Louisiana to Mexico, to nervously wonder where it would eventually strike.
Candidates weigh in on stabilizing Fannie, Freddie- The historic takeover of Fannie Mae and Freddie Mac, which could come as soon as Sunday, moved to the forefront of the presidential campaign Saturday as candidates and congressional leaders seized on the enormous implications for taxpayers and the economy.
- The banners, buttons and signs say McCain-Palin, but the crowds say something else.
US holds off on civilian nuclear pact with Russia- Now is not the right time for the U.S. to move forward on a once-celebrated deal for civilian nuclear cooperation with Russia, Secretary of State Condoleezza Rice said Saturday.
- Five days a week, Linda Graham trolls tattered neighborhoods of this once thriving steel city outside Pittsburgh for unregistered voters she can sign up as Democrats - one of thousands of unknown volunteers whose work outside the limelight has already altered the basic arithmetic of the November election.
High-resolution satellite launched in California- A super-sharp Earth-imaging satellite that can detail an area the size of a baseball diamond's home plate from space has been launched into orbit from Vandenberg Air Force Base on the Central California coast.
London calling at New York Fashion Week- Designers at New York Fashion week heard London calling - from 1975.
NAHB Applauds Federal Reserve Move to Calm Markets
WASHINGTON (Map) - The 235,000-member National Association of Home Builders today released the following statement after the Federal Reserve Board's announcement that it is temporarily cutting its discount rate by half a percentage point in conjunction with other steps:
"The National Association of Home Builders (NAHB) applauds the Federal Reserve Board for moving to temporarily reduce the primary credit rate by 50 basis points. NAHB also applauds the Fed's move to allow the provision of term financing for as long as 30 days, renewable by the borrower, and to accept home mortgages and related assets as collateral for discount window loans to banks. Such changes reflect the Federal Reserve Board's willingness to act quickly to help restore orderly conditions in financial markets, provide depositories with greater assurance about the cost and availability of funding, and help ease liquidity concerns that are affecting the mortgage market.
"NAHB also strongly encourages the Federal Reserve Board to continue
closely monitoring market conditions to determine whether further action is
necessary, including a cut in the target federal funds rate ahead of the
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