In Partnership with:
1168 Stories, most recent news story added Sun May 27, 3:39 pm ET
Rep. Barney Frank (D-Mass.) says that JPMorgan Chase's $2 billion loss earlier this month reaffirms the argument for regulating Wall Street. In an interview with the Daily Beast published online on Saturday, Frank signaled his belief that if the banking fiasco occurred five years ago, there "would have been a lot more panic and nervousness in the economy."
US prosecutors have gained an early edge in Raj Gupta’s insider trading trial. Judge Jed Rakoff largely adopted their version of a preliminary jury instruction a week after allowing them to introduce wiretap evidence. The former McKinsey & Co boss and Goldman Sachs director hasn’t put on his defence yet. But he’ll need some breaks soon if he’s going to beat the insider trading rap.
Is the Federal Reserve too complex to manage, too? That’s usually a question for big banks like JPMorgan, recently humbled by a surprise trading loss. But it’s also not a bad one for the Fed. From the presence of JPMorgan boss Jamie Dimon on the New York Fed board to the US central bank’s forays into housing policy, the Fed seems to be pleasing no-one.
Maybe Ben Bernanke can take a page from Japan’s central bank and book a reunion tour of Destiny’s Child to help sell some of Uncle Sam’s debt? Japan’s debt-laden government has enlisted the popular music group AKB48 (pictured) to help it sell government bonds, as investors...
For all the trillions pumped into the global financial system to save it, the thing is that the world's economic problems aren't monetary in nature.
When Paul Krugman dies, he’ll be primarily remembered for three things: He won the 2008 Nobel Prize in economics; he has been one of the world’s most-read and most-influential political pundits; and he said with total seriousness (watch the video) that a way to fix America’s economy...
NEW YORK -- When Jennifer Anderson's family could no longer afford their mortgage and lost their home, she expected many years to pass before they would again become property owners.
For several months now, warnings have been growing in volume about the "fiscal cliff" the U.S. economy is rapidly approaching at the end of 2012. Essentially, the fiscal cliff is a double whammy of expiring tax breaks and automatic spending cuts which are scheduled to kick in at the end of this year.
You can't blame investors for feeling a bit squeamish regarding deploying new money in the U.S. stock market these days, with the Dow Jones Industrial Average’s (DJIA) recent slide from 13,300 to 12,450 unnerving even the most experienced institutional investors. Where’s the market headed in the next six months?.
He lays out several objections. he sets up a too-simple dichotomy between "independence" and "political control." The devil is in the details here. [...] Furthermore, "political control" is unclear here — which politicians have control? Would central bankers be directly elected?
CNBC's Steve Liesman is a huge fan of Grateful Dead. When he's not interviewing a Fed president or attending a Ben Bernanke presser, the senior economics reporter is probably jamming with his band.
Federal Reserve Chairman Ben Bernanke will testify on the economic outlook to the congressional Joint Economic Committee on June 7, the panel said on Thursday. The committee said the hearing would be held ...
Jerome Powell was sworn in to the Fed's Board of Governors on Friday, the central bank said in a statement.
ST. LOUIS (Reuters) - Greece could exit the euro zone without doing deep damage to the U.S. and European economies if the transition is handled properly, a top U.S. Federal Reserve official said on Wednesday. Concerns about a Greek exit have kept global financial markets under pressure in recent days. "I'm one that thinks that Greece could exit, and it could be handled in an appropriate way ...
U.S. mortgages rates have dropped to record lows for four consecutive weeks, but that doesn't mean more homes will be sold. In fact, at least one housing expert argues that extremely low rates are causing banks to be even more stringent with underwriting approvals, turning away more prospective buyers and hurting the national housing market.
Fed: Jerome Powell Sworn In To Fed Board Of Governors
Open slideshowReuters
Open slideshowReuters
Open slideshowReuters
Open slideshowReuters
Open slideshowAFP News
Open slideshowThe Canadian Press