The Federal Reserve should be prepared to act to support the economic recovery again if growth disappoints, a top official said on Thursday, the day the central bank's latest bond buying round ended.
In order to take a break from government service, U.S. Treasury Secretary Timothy Geithner is considering leaving his post after President Barack Obama and Congress reach an agreement on raising the national debt ceiling.
St. Louis Federal Reserve President James Bullard said on Thursday that while the central bank's massive bond buying program impacted financial markets immediately, its effect on the broad economy will lag by as much as a year.
St. Louis Federal Reserve President James Bullard said on Thursday that while the central bank's massive bond buying program impacted financial markets immediately, its effect on the broad economy will lag by as much as a year.
The top pre-market NASDAQ Stock Market gainers are: Origin Agritech, Hansen Medical, First Solar, eBay, and Siliconware Precision Industries. The top pre-market NASDAQ Stock Market losers are: Aeterna Zentaris, Star Scientific, Vodafone Group, Lululemon Athletica, and Amazon.com.
The Federal Reserve's decision on debit interchange fees seems to exclude eBay Inc.'s (NASDAQ: EBAY) PayPal from being treated as a "payment card network", Jefferies said in a note to clients.
The top after-market NYSE gainers on Wednesday are: USANA Health Sciences, Visa, Celestica, Lithia Motors, Ion Geophysical, AOL, Mastercard, Office Depot, Carnival Corp and Arrow Electronics.
In our view, inflation is on the verge of becoming a significant concern for the global economy
Bank of America (NYSE:BAC), one of the nation's largest banks by assets, has confirmed an $8.5 billion settlement with high-profile investors over mortgage loans, and would report a second-quarter loss in the range of $8.6 billion to $9.1 billion.
Bank of America (NYSE:BAC) is nearing an $8.5 billion settlement with high-profile investors over mortgage loans, according to people familiar with the matter.
The federal regulator of the largest U.S. banks is attempting to maintain too much power to preempt state consumer financial laws and is ignoring the intent of the 2010 financial reform law, state attorneys general complained in a letter released on Tuesday.
Gold is trading at $1,500, an important psychological level and near the all-time nominal high. Whether or not gold will go to new heights largely depends on monetary policy, according to some experts.
One of the many problems hampering the speed and strength of the economic recovery has been the very restrictive lending guidelines that have arisen since the start of the financial crisis.
The Federal Reserve on Wednesday cut its forecasts for U.S. economic growth, but offered no hint of further monetary support, saying the recovery should gradually pick up heading into 2012.
The Federal Reserve on Wednesday cut its forecasts for U.S. economic growth, but offered no hint of further monetary support, saying growth should pick up soon.
The head of the world's most powerful central bank essentially stuck to the bank's latest U.S. economic forecast in his news conference with reporters Wednesday: the U.S. economy slowed in Q2, but growth is likely to pick-up in the second half of 2011.
The Federal Reserve on Wednesday said the pace of U.S. economic recovery was proceeding more slowly than it had expected though it was primarily because of temporary factors.
The Federal Reserve on Wednesday said the recovery was proceeding more slowly than it had expected, but it offered no hint of further monetary support, saying growth should pick up soon.
The Federal Reserve released a statement today after its June meeting, and ahead of Ben Bernanke's press conference Wednesday afternoon. The press conference will be only the second one in the Federal Reserve's history.
Federal Reserve Chairman Ben Bernanke has a formidable challenge this afternoon when he addresses the economic and investment community post the 2-day FOMC meeting
The Federal Reserve will likely nod to renewed weakness in the U.S. economy in a post-meeting policy statement on Wednesday, but don't expect policymakers to do anything about it any time soon.
The Federal Reserve will likely acknowledge renewed weakness in the U.S. economy in a post-meeting policy statement on Wednesday, but don't expect policymakers to do anything about it any time soon.
