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Janet Yellen: The Fed is a Monetary Superpower
1 day ago ago from Wall Street Pit
Federal Reserve Bank of San Francisco President Janet Yellen makes the case for the Fed as a monetary superpower, at least in Asia: For all practical purposes, Hong Kong delegated the determination of its monetary policy to the Federal Reserve through its unilateral decision in 1983 to peg the Hong...
Related contentGovernment Now Needs All That Bailout Money Back
9 hours ago ago from OSPRI BLOG
After the Federal Reserve poured between $6.4 trillion and $8.3 trillion into the economy, inflation seems inevitable. But not to worry, once again the Federal Reserve is coming to the rescue. The Fed has this nifty new tool that allows it to pay interest on cash reserves that private banks park at the central bank. That's supposedly going to prevent the inflationary tide. Just one little problem: aren't the banks supposed to be lending ...
Related contentMenendez asked Fed to bailout Lesniak’s bank
11 hours ago ago from njtoday.net - Everything New Jersey
BREAKING NEWS ELIZABETH The Wall Street Journal has reported that U.S. Sen. Robert Menendez urged the Federal Reserve to bailout a struggling bank without disclosing that two of his top campaign contributors were chairman and vice chairman of the bank's board of directors. Menendez tried to persuade the Federal Reserve to approve the acquisition of the Elizabeth-based First BankAmericano, which was founded by state Sen. Raymond ...
Related contentMorning Note...
1 day ago ago from Clean, Clear, Calm
Futures surge +1% this morning on positive earnings releases in the U.S. and speculation of an ECB-led bailout of Greece. Rumors are swirling overseas as ECB Chair Jean-Claude Trichet returns from Australia to Europe early in anticipation of a special February 11 th meeting widely believed to settle the fate of Greek sovereign debt. While an ECB spokesman says the travel change was purely due to logistics “because there was some concern that ...
Related contentFed’s Dudley: Financial System In ‘Much Better’ Shape
13 hours ago ago from Risky Investor
The U.S. financial system is in much better shape, although small and medium-sized financial institutions are under pressure, which will put a damper on credit availability in the U.S. economy, a top Federal Reserve official said Monday. The capital markets are generally open for business with the important exception of some securitization markets and the major securities dealers that survived the crisis have seen a sharp recovery in ...
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Senator Robert Menendez Asked Fed To Aid Bank Led By Donors
19 hours ago ago from
Wall Street Journal : Sen. Robert Menendez of New Jersey urged the Federal Reserve last July to approve an acquisition to save a struggling bank in his state. He didn't mention that the bank's chairman and vice chairman were big contributors to his political campaign. If the acquisition had been approved, it would have prevented the two executives from losing what was left of their investments in the bank. Read the whole story: Wall ...
Related contentSnow Job in Washington? - Up and Down Wall Street Daily - R. Forsyth - Barrons.com
12 hours ago ago from
Snow Job in Washington? By RANDALL W. FORSYTH MORE ARTICLES BY AUTHOR Weather permitting, Bernanke will outline the Fed's exit strategy Wednesday. The really import questions won't get answered. Subscribe Now With these readers: Or copy the rss link: THERE'S 100% CHANCE OF SNOW in Washington Wednesday, and that would ...
Related contentFed to Reveal Its Strategy for Raising Interest Rates
2 hours ago ago from
WASHINGTON Ben S. Bernanke , having survived a surprising challenge to his second term as Federal Reserve chairman, now faces the delicate task of beginning to pull the central bank out of its extraordinary effort to prop up the economy. The main question is when and how the Fed should start raising short-term interest rates, which have been at a record low for more than a year. Related is the issue of how to manage, and eventually shrink, ...
Related contentBofA spent $1.18M lobbying government in 4Q
13 hours ago ago from
BofA spent $1.18M lobbying government in 4Q CHARLOTTE, N.C. (AP) -- Bank of America Corp., the nation's largest lender, spent $1.18 million in the fourth quarter to lobby the federal government on issues such as executive compensation, credit cards and mortgage lending practices, according to a recent disclosure report. That's up from the $820,000 it spent in the 2008 fourth quarter at the height of the financial crisis, and the $930,000 it ...
Related contentFed's Bullard: Central Bank Needs More Regulatory Power - FOXBusiness.com
8 hours ago ago from
Existing users please login User Name: Password: Remember me on this computer Home / Markets / Business Leaders Tuesday, February 09, 2010 Fed's Bullard: Central Bank Needs More Regulatory Power   A Federal Reserve bank president is calling on ...
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