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TCW chief fixed income investor: QE3 is probable

There is a significant chance that the Federal Reserve will embark on a third round of asset purchases to stimulate the U.S. economy, a major bond fund manager said on Tuesday.

Bank of America CEO Speech Lifts Shares

Bank of America (NYSE:BAC) shares continued rallying today, the fifth day the stock seems poised to close higher, as trading was boosted by a widely-anticipated speech from its CEO. The wider market for large financial companies was mixed.

A Culture of Debt

People walk past a board displaying exchange rates in a money exchange house at Times Square in New York

At both the individual and collective level, Americans have created and embraced a culture of debt. Spurred by our gluttony, we have developed an untenable habit of spending beyond our means, and it must be stopped or else generations to come will be saddled with debt, left unable to harness the American dream and prosper because it simply will no longer exist.

Fed Must Act Now to Boost Economy, Evans Says

The Federal Reserve must take immediate action to inject new life into a moribund U.S. recovery or risk letting the nation settle into a permanently lower growth path, a top Fed official said on Monday.

More news

Fed hawks say central banks can't solve fiscal woes

The U.S. Federal Reserve and other central banks must not succumb to calls for additional help from monetary authorities in the face of high budget deficits, two top Fed officials said on Friday.

Fed lifts veil on primary dealer survey

The Federal Reserve Bank of New York took another step in its campaign to become more transparent on Friday, announcing it will publish one of the regular queries it puts to market participants.

Gold Prices End Week up 3.9%, Other Precious Metals Gain

Gold prices concluded a stellar week Friday with a modest gain as prospects of fresh support for weak Eurozone members and short covering offset profit taking.

Fiscal deficits hurt Fed's efforts on economy: Fisher

Federal deficits are complicating efforts by the Federal Reserve to help the economy, but using the central bank as a printing press to solve the problem is not an option, a top Fed official said on Friday.

A flyer advertising holiday job listings is seen at the North Metro Department of Labor Career Center in Atlanta

Jobless Rate Drops to 8.6 Percent, Hiring Picks Up

Employment growth picked up speed in November and the jobless rate dropped to a 2-1/2 year low of 8.6 percent, further evidence the economic recovery was gaining momentum.

U.S. 30-Year Mortgage Rate Up Slightly to 4 Percent: Freddie Mac

Average rates for 30-year fixed-rate U.S. mortgages increased slightly to 4 percent from 3.98 percent in the week ending Dec. 1, according to Freddie Mac.

European Central Bank Hints at Intervention If Eurozone Approves Fiscal Pact

The new head of the European Central Bank signaled on Thursday it was ready to take stronger action to fight Europe's debt crisis if political leaders agree next week on much tighter budget controls in the 17-nation euro zone.

Gold Prices Rise Four Days in a Row, Hit Two-Week High

Gold prices climbed to a nearly two-week high Thursday, along with other risky assets, after the world's richest central banks jointly pledged to make it easier for the Eurozone's acutely stressed banks to obtain funding.

European Central Bank President Draghi arrives at a Eurogroup meeting at the European Union council headquarters in Brussels

ECB Signals Readiness to Act to Save Euro

The new head of the European Central Bank signaled Thursday it was ready to take stronger action to fight Europe's debt crisis if political leaders agree next week on much tighter budget controls in the 17-nation euro zone.

U.S. Stock Futures Signal Lower Open

Stock index futures pointed to a weaker open on Wall Street on Thursday, with futures for the S&P 500 down 0.5 percent, Dow Jones futures down 0.4 percent and Nasdaq 100 futures down 0.2 percent at 4:37 a.m. ET.

Asian Shares Hit Two-week High on Central Banks' Liquidity Move

Asian shares rallied to two-week highs Thursday, building on strong global gains after the world's six major central banks moved to tame a liquidity crunch for European banks by providing cheaper dollar funding.

The U.S. Federal Reserve building is pictured in Washington

Fed Names Michael Gibson New Head of Bank Supervision

The Federal Reserve Board on Wednesday named Michael Gibson as director of the Division of Banking Supervision and Regulation, an important role that oversees the implementation of Dodd-Frank rules and bank stress tests, effective Jan. 1, 2012.

Fed says growth moderate, hiring still subdued

The Federal Reserve said on Wednesday the U.S. economy grew moderately in recent weeks but said hiring remained anemic and housing activity impaired.

Scenarios: Impact of Euro Zone Crisis on U.S. Economy

A gradual broadening and strengthening of U.S. growth should cushion the American economy against severe damage from the storms in Europe, unless a financial meltdown causes global havoc.

A new AMD Opteron 6000 series processor is seen on a motherboard during a product launch in Taipei

Intel, AMD Shares Both Surge Despite Lagging PC Sales

Shares of microprocessor leaders Intel and Advanced Micro Devices both surged more than five percent in Wednesday’s advance despite slowing sales of PCs.

Fed Beige Book Notes 'Slow to Moderate Growth' in Most Districts

The Federal Reserve said Wednesday that the U.S. economic activity increased at a slow to moderate pace in 11 of the 12 Fed districts. St. Louis reported a decline.

Central banks act as euro zone crisis rages

The world's major central banks acted jointly on Wednesday to provide cheaper dollar funding to European banks facing a credit crunch as the euro zone's debt crisis drove EU ministers to urge more IMF help to avert financial disaster.

Bank of Canada seen on hold rates until Q4, 2012: Reuters poll

The Bank of Canada will not raise interest rates again until the fourth quarter of next year as Europe's worsening debt crisis dims the outlook for the global economy, according to a Reuters survey.

Gold Surges After Central Banks Vow Fresh Liquidity

Gold shot higher Wednesday after the world's top central banks launched a coordinated plan to provide liquidity to struggling Eurozone banks and China did likewise for its banks.

Analysis: Central Banks Buy Wiggle Room, Not Solution

Central bank action on Wednesday to ease severe funding strains for the world's private sector banks may help cushion a brewing global credit crunch but it only buys some wiggle room for governments trying to resolve the euro debt crisis and keep banks lending.