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Federal reserve News

Op-Ed: Hard times — US GDP crashes, Congress rejects election delay

Washington - In what can only be described as an economic cliff jump, the US economic situation is now worse than the 2008 meltdown. Simultaneously, Congress has now rejected a suggestion by Donald Trump to delay the election.

Dow plunges as investors worry over surge in coronavirus cases

New York - Wall Street got a healthy dose of reality Thursday. The Dow plunged more than 1,504 points, or 5.61 percent - the biggest selloff since April. Blame it on uncertainty over a spike in COVID-19 cases and a slow economic recovery.

With an eye on COVID-19, Federal Reserve makes emergency rate cut

After being railed against by President Trump early Tuesday, the Federal Reserve cut the benchmark interest rate by a half-point Tuesday in its first emergency rate cut since the Great Recession.

Op-Ed: Should the Fed save Wall Street during COVID-19 outbreak?

As stocks around the world tumbled on worries about a fast-spreading virus, investors have been clamoring for the superheroes of the financial world to ride to the rescue once again. But can central banks fix this crisis?

Bank of Canada joins Network for Greening the Financial System

Toronto - The Bank of Canada's latest financial system review report is being released today — and it's expected to be the first ever to explore the threat climate change poses to the country's financial system.

Trump warned not to try and influence Federal Reserve

Washington - India's former Central Bank governor, Raghuram Rajan, warned that US President Donald Trump's attempts to influence the US Federal Reserve could have devastating effects on the economy and monetary policy.

U.S. labor force dropping out and getting high

The Federal Reserve chair, Janet Yellen dropped a bomb shell on Thursday, saying the opioid crisis in the U.S. is weighing on labor force participation, especially among working-age men.

The Fed touched on a big debate about the post-election economy

In their March meeting minutes, the Federal Open Market Committee indirectly touched on the "hard data versus soft data" debate that's been filtering through the economics blogosphere.

Op-Ed: Stormy weather — Financial review

The S&P 500 gained 2.1 percent for the week; its fourth straight weekly gain; moving into positive territory year to date. For the week, the Dow rose 2.5 percent and the NASDAQ gained 3 percent.

Original Dr. Doom predicts tectonic shifts in economy for 2016 Special

New York - “You can’t go home again.” That in a nutshell is economist Henry Kaufman’s take on the global economic outlook for the foreseeable future, which, of course, isn’t very foreseeable at all.

Op-Ed: Why are the presidential candidates ignoring the Federal Reserve?

Washington - Every 2016 Republican and Democratic presidential candidate is talking about wanting to help the middle class. But then how come none of the White House hopefuls are talking about the culprit behind its demise? The Fed should be the topic of debate.

Federal Reserve decides to keep interest rates the same

The Fed is still on hold. On Thursday, the Federal Reserve kept its benchmark interest rates pegged at 0 percent-0.25 percent, where they’ve been since December 2008.

Fed considers interest rate hike in 2015, first since recession

Washington - The first Federal Reserve interest rate increase since the financial crisis will likely occur in 2015, said Fed official Jerome Powell on Tuesday.

IBM planning a custom version of bitcoin for central banks

Reuters reported on Thursday that, according to unnamed sources familiar with the matter, IBM is planning a custom version of bitcoin technology for governments and central banks.

Op-Ed: Head of NY Fed deserves praise for tough talk on student loans

New York - The head of the Federal Reserve Bank of New York calls out the questionable practice of giving government-subsidized college loans to all comers...without any regard for their ability to perform academically.

New York Post and UPI twitter accounts hacked

It was a scenario worthy of the latest Hollywood movie. The plot? Hackers breaking into news media accounts and planting a story about China firing on a U.S. warship, starting World War III.

Yellen takes dead aim at a GOP movement to rein in the feds reserve

Federal Reserve Chair Janet Yellen doesn't want to follow anyone's rules. On Friday at the Jackson Hole economic symposium, Yellen spoke on the state of the labor market and how these dynamics effect monetary policy.

Op-Ed: Bitcoin, a threat to the central banks, banned in Russia

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.

Senate votes in Yellen as first woman chair of Federal Reserve

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.

Op-Ed: Happy Centenary, Fed — Time to die

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.

Op-Ed: Bitcoin will no longer be the anonymous tool of anarchists

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.

Op-Ed: Fed official sparks controversy about genetically modified foods

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.

Op-Ed: Will Janet Yellen put the final nail in the U.S. dollar's value?

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.

Op-Ed: Noam Chomsky talking sense and nonsense

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

U. S. Mortgage rates drop to 4.32%

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

Op-Ed: Why Peter Schiff was right on no Federal Reserve QE taper

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.

Op-Ed: Economists supporting Yellen despite poor forecasting record

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.

Op-Ed: Austrian economics, Fed data agree with Faber that crash is near

New York - Marc Faber is known as both a bear on the United States economy and a contrarian investor. Echoing the sentiments of other libertarian investors and adherents of Austrian economics, a crash in the market is imminent.

Op-Ed: Interest rates should be determined by market, not central banks

Washington - Since the collapse of the United States economy at the height of the Great Recession in 2007 and 2008, consumers and governments have given interest rates a bad reputation. Is it wrong to blame them?

Op-Ed: Obama considering Larry Summers for chair of Federal Reserve

Washington - Ben Bernanke, the present chair of the US Federal Reserve, has said the he has already stayed longer in his post than he wished, so it is quite unlikely he will seek another term when his present term runs out in January.
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Governor Jerome H. Powell discusses monetary policy accommodation  risk-taking  and spillovers durin...
Governor Jerome H. Powell discusses monetary policy accommodation, risk-taking, and spillovers during the policy panel on monetary policy spillovers and cooperation in a global economy.
Federal Reserve
Not everyone is as impressed with Chairman Bernanke as the students of George Washington University....
Not everyone is as impressed with Chairman Bernanke as the students of George Washington University. This photograph is frm a protest at Minneapolis, Minnesota, September 8, 2011. September 8, 2011
U.S. Federal Reserve Vice Chair Janet Yellen testifies during a Senate Banking Committee confirmatio...
U.S. Federal Reserve Vice Chair Janet Yellen testifies during a Senate Banking Committee confirmation hearing on her nomination to be the next chairman of the U.S. Federal Reserve, on Capitol Hill in Washington
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Geithner to leave in consideration of family.
Geithner to leave in consideration of family.
U.S. Federal Reserve Building.
Dan Smith (CC BY-SA 2.5)

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