FEDERAL RESERVE

The Federal Reserve Bank of New York is intensifying its scrutiny of the U.S. units of Europe's biggest banks amid concerns that Europe's debt crisis could spill into the U.S. banking system, the Wall Street Journal reported citing sources familiar with the matter.

The Federal Reserve will do what it feels is best for the economy, regardless of any political heat, a top Fed official said on Wednesday.

The Federal Reserve will do what it feels is best for the economy, regardless of any political heat, a top Fed official said on Wednesday.

Three U.S. Federal Reserve officials on Wednesday offered sharply differing reasons for opposing the Fed's move to freeze interest rates for two years, suggesting there is no unified revolt within Fed ranks over policy.

However, he is impressed by the latest entrant, Texas governor Rick Perry.

The Federal Reserve has no business easing monetary policy further when the real problem facing the economy is fiscal mismanagement in Washington, a top Fed official said on Wednesday.

Another Rick Perry book is coming out soon, but the Republican presidential hopeful probably won't like it.

The Federal Reserve's recent promise to keep rates low for another two years was inappropriate policy at an inappropriate time, while its statement on the economy was excessively negative, a top Fed policymaker said on Wednesday.

Robert Gibbs, a former spokesman for President Barack Obama, on Wednesday sought to clarify the role in public policy the Tea Party faction of the Republican Party is playing: counter-productive, to put it diplomatically.

World equities rose on Wednesday, lifted by strong outlooks and results from U.S. retailers, while crude oil gained on a larger-than-expected decline in U.S. gasoline supplies.

Republican presidential candidate Rick Perry says the Fed should become transparent and open its books.

The White House denounced Republican presidential candidate Rick Perry on Tuesday for his threatening remarks toward the head of the U.S. Federal Reserve that represented some of the most inflammatory rhetoric of the 2012 election campaign.

Republican Presidential candidate Rick Perry says others are concerned about the Federal Reserve besides him. Earlier in the week Perry came under fire for calling Fed chairman Ben Bernanke "treasonous."

Philadelphia Federal Reserve President Charles Plosser on Wednesday said he disagreed with the Fed's decision to promise to keep interest rates low for another two years because policy should be dictated by the economy rather than a timeline.

Gold held steady near a record high on Wednesday after a Franco-German summit failed to convince investors that the euro zone debt crisis would be solved effectively, supporting safe-haven demand for bullion.

The White House denounced Republican presidential candidate Rick Perry on Tuesday for his threatening remarks about U.S. Federal Reserve Chairman Ben Bernanke that represented some of the most inflammatory rhetoric of the 2012 election campaign.

Obama and presidential contenders point out flaws, defend themselves.

Texas Governor Rick Perry has only been a presidential candidate since Saturday, but the Republican hopeful has already produced some of the most inflammatory rhetoric of the early 2012 campaign.

Here are three reasons to buy gold, even if it means selling some stocks or bonds to get the money for such an investment.

Premarket trading of gold and silver mining companies were mixed Tuesday in a tight range as stock index futures pointed to a lower open and commodities like crude oil and copper were down.

Shares on Wall Street rose with oil prices on Monday as acquisition news and stronger-than-expected economic data in Japan led markets to steadily forge ahead after last week's wild swings.