Federal reserve News

Moscow - The Russian government has announced that Bitcoin, a popular alternative currency, now is illegal in Russia. The prosecutor’s office pointed to its possible use in money laundering and financing terrorism as cause for the move.

Washington - The U.S. Senate, Monday, approved the appointment of Janet Yellen as head of the Federal Reserve. Yellen, 67, will become the first woman to preside over the US central bank, the most powerful in the world.

The Federal Reserve was a hundred years old this week. Most in-the-know observers believe it has long outlived whatever usefulness it may have once had.

Beijing - What was once considered the monetary tool for anarchists due to its anonymity and fight against fiat currency will soon become just another regulated payment system that will lose its prominence in the world of alternative currencies.

Dallas Federal Reserve Bank President Richard Fisher encouraged farmers to carry on with the use of genetically modified organisms (GMOs) in food and establish standards for international trade, while a shipment of GMO corn sits off the coast of China.

Washington - The United States Senate Banking Committee voted overwhelmingly Thursday in favor of approving President Obama's nomination of Janet Yellen to chair the Federal Reserve once Ben Bernanke's current term expires Jan. 31, 2014.

Massachusetts Institute of Technology Professor Emeritus Noam Chomsky talks common sense, most of the time, but does he understand economics?

The Fed’s decision to continue its economic stimulus program unabated has sent fixed mortgage rates plunging to their lowest level in two months.

Hartford - Since the summer, financial experts continued to repeat themselves that the Federal Reserve was going to taper its $85 billion-per-month bond-buying initiative this month.

New York - It should be soon that United States President Barack Obama will pick his nominee to succeed Ben Bernanke as Chair of the Federal Reserve.