Federal reserve News
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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.
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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.
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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.
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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.
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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.
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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.
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Washington -
The first Federal Reserve interest rate increase since the financial crisis will likely occur in 2015, said Fed official Jerome Powell on Tuesday.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Massachusetts Institute of Technology Professor Emeritus Noam Chomsky talks common sense, most of the time, but does he understand economics?
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The Fed’s decision to continue its economic stimulus program unabated has sent fixed mortgage rates plunging to their lowest level in two months.
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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.
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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.
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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.
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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?
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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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Springfield -
After Federal Reserve Chairman Ben Bernanke delivered his testimony to the Congressional Joint Economic Committee on Wednesday, retired Texas Republican Congressman Ron Paul issued a statement accusing Bernanke of misleading Americans over inflation.
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A new petition has been released on the White House's "We the People" website, calling for an end to the Federal Reserve's quantitative easing and its monopoly over currency in the United States.
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Houston -
New legislation is being proposed in Texas that would establish a sort of Texas Bullion Depository. Texas Governor Rick Perry and other lawmakers are proposing that it would get back its gold from the Federal Reserve.
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Frankfurt -
Germany wants its gold back. Local newspapers are reporting that the Bundesbank, the central bank of Germany, is planning to deposit more gold reserves at home in Frankurt, while withdrawing many of its precious metal held in facilities around the world.
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German government auditors have requested the Bundesbank, Germany’s equivalent of the Federal Reserve, to check up on Germany’s gold reserves much of which are in secure storage at banks abroad.
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New York -
Federal Reserve Chairman Ben Bernanke will most likely step down in January 2014 and not seek a third term even if President Barack Obama is re-elected. Republican nominee Mitt Romney has vowed to replace Bernanke if elected.
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Federal Reserve Economic Data
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. This photograph is frm a protest at Minneapolis, Minnesota, September 8, 2011.
September 8, 2011 Flickr
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 With permission by Reuters / Joshua Roberts
Federal authorities have arrested an Al Qaeda wannabe Quazi Mohammad Rezwanul Ahsan Nafis for attempting to blow up the Federal Reserve in Manhattan. Law Enforcement Photo
Geithner to leave in consideration of family.
U.S. Federal Reserve Building. Dan Smith (CC BY-SA 2.5)
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