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Tag: Fed


And Now for a Little Good News About the Economy

The Federal Reserve released some positive news Wednesday about the state of the U.S. economy, pointing to better figures than expected in the second quarter of 2014 while registering ongoing concern about unemployment.

Posted on Jul 30, 2014 READ MORE


Janet Yellen

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Posted on Oct 21, 2013 READ MORE


Documents to Remain Open in Examiner’s Lawsuit Against Fed

A federal judge rejected the Federal Reserve Bank of New York’s plea to seal documents in a wrongful termination lawsuit filed by a former bank examiner who claims she was fired for doing her job.

Posted on Oct 15, 2013 READ MORE



Shutterstock

N.Y. Fed Moves to Seal Documents in Ex-Bank Examiner’s Suit

Carmen Segarra filed a lawsuit against the New York Fed and three of its employees alleging she had been wrongfully terminated last year after she determined that Goldman Sachs had insufficient conflict-of-interest policies.

Posted on Oct 14, 2013 READ MORE



AP/Eugene Hoshiko

Obama Will Nominate Janet Yellen as the First Woman to Chair the Fed

President Obama will reportedly nominate Fed Vice Chairwoman Janet Yellen to head the central bank, making her the first woman in the institution’s 99-year history to do so if she is confirmed by the Senate.

Posted on Oct 8, 2013 READ MORE



The New York Times’ Fear of AIPAC

A paragraph disappeared from the newspaper that cited the attack on Syria is really about showing the pro-Israel lobby group the U.S. is serious about Iran; economic scarcity melds the mind; meanwhile, the hypocrisy of the “red line” in Syria is highlighted by the fact that the Pentagon acknowledged using white phosphorus in Iraq a few years ago. These discoveries and more after the jump.

Posted on Sep 9, 2013 READ MORE


Larry Summers

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Posted on Aug 15, 2013 READ MORE


Summers Loving

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Posted on Jul 31, 2013 READ MORE



Larry Summers Again? Really?

President Obama seriously wants to nominate one of the men who caused the recession to chair the Fed; researchers are finding many animals, especially rodents, are smarter than the average human; and Detroit is suffering because of the auto industry’s utterly capitalist decision to put shareholders before everyone else. These discoveries and more after the jump.

Posted on Jul 26, 2013 READ MORE



AP/Mark Lennihan

The Return of Lawrence Summers, Mr. Spectacular Failure

The guy who tops the list of those responsible for sabotaging the world’s economy is lobbying to be the next chairman of the Federal Reserve.

Posted on Jul 15, 2013 READ MORE


Fed Chief Bernanke

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Posted on Jun 30, 2013 READ MORE



Photo illustration from an image by Colin Grey (CC-BY)

Gay Marriage: Why the Supreme Court Might Disappoint Conventional Thinking

Last week on Truthdig Radio in association with KPFK: The stock market plunges, Afghan author Qais Akbar Omar reacts to the news that direct talks between the United States and the Taliban have already broken down, Texas wages a war on high school kids and the Supreme Court threatens the happiness of gays everywhere.

Posted on Jun 24, 2013 READ MORE


Gay Marriage: Why the Supreme Court Might Disappoint Conventional Thinking

Last week on Truthdig Radio in association with KPFK: The stock market plunges, Afghan author Qais Akbar Omar reacts to the news that direct talks between the United States and the Taliban have already broken down, Texas wages a war on high school kids and the Supreme Court threatens the happiness of gays everywhere.

Posted on Jun 24, 2013 READ MORE



Shutterstock graphic of stocks falling.

Wall Street Doesn’t Like What Fed Chairman Has to Say

The Federal Reserve will continue to buy bonds at a rate of $85 billion a month, but Chairman Ben Bernanke said better economic indicators mean the central bank could end its quantitative easing policy in 2014.

Posted on Jun 19, 2013 READ MORE



By davelawrence8

Krugman: Praise for Bernanke, Criticism for Romney

In his latest takedown of Mitt Romney, the New York Times columnist criticizes the Republican presidential nominee for his stance on the Fed’s latest effort to jump-start the economy.

Posted on Sep 17, 2012 READ MORE



AP/Barry Thumma

See You at the Club: Fed Fat Cats Dip Into the Till

American families have lost 20 years of growth while at least 18 bankers and tycoons sat on Fed boards that coincidentally bailed out their institutions.

Posted on Jun 14, 2012 READ MORE



Medill DC (CC BY 2.0)

No New Stimulus, Bernanke Says

In spite of May’s weak jobs report, Fed Chairman Ben Bernanke still sees no reason for the central bank to expand its efforts to boost the American economy. The Fed is assessing whether the economy would continue to grow fast enough to reduce the unemployment rate without further intervention, he said.

Posted on Jun 7, 2012 READ MORE



U.S. Treasury

Treasury Projects a Profit From Bailout

Just as Mitt Romney has locked up the Republican nomination on a boast of fiscal conservatism, President Obama’s Treasury Department has said it expects to turn a tidy $2 billion profit from TARP and other extraordinary measures taken to bail out the financial industry.

Posted on Apr 15, 2012 READ MORE



Jon Wade (CC-BY)

Citigroup and 3 Other Banks Can’t Take the Stress

Despite hefty bailouts and infinitesimal interest rates, Citi, Ally Financial, MetLife and SunTrust were not able to pass the latest round of stress tests designed and measured by the Federal Reserve.

Posted on Mar 13, 2012 READ MORE



AP / Charlie Riedel

Marginalizing Ron Paul

Paul is being denigrated as a presidential contender even though on the vital issues of the economy, war and peace, and civil liberties, he has made the most sense of the Republican candidates.

Posted on Dec 29, 2011 READ MORE



Israeli Segregation à la Rosa Parks

An Israeli woman is relegated to the back of the bus by a group of Orthodox Jews; New York celebs party with the Occupiers; and studying fish may be the key to understanding why uninformed voters are a necessary evil in our democracy. These discoveries and more after the jump.

Posted on Dec 18, 2011 READ MORE


The Evil Fed

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Posted on Sep 22, 2011 READ MORE



Jacob Bøtter (CC-BY)

Another Bailout Joins the Goofball Economy

The whole thing is nuts. The economy is a shambles, saved from a free fall only by the Federal Reserve’s unprecedented promise of free money for banks for at least two years.

Posted on Aug 9, 2011 READ MORE


Bernanke
AP / Susan Walsh

Bernanke Baffled by Troubling Economic Trends

This is not really the kind of headline we want to read about the Federal Reserve right now, but top banana Ben Bernanke acknowledged at a news conference Wednesday that the Fed was “caught off guard by recent signs of deterioration in the economy.”

Posted on Jun 22, 2011 READ MORE


One-Man Fire Brigade

Ben Bernanke may or may not succeed in saving the economy, but at least he has the courage to try—and the honesty to tell the truth. The same cannot be said of our elected officials.

Posted on Dec 7, 2010 READ MORE



Wikimedia Commons / Robert Mihaly (CC-BY-SA)

New Data Show Extent of Fed’s Free Money Programs

Thanks to Bernie Sanders and the new financial regulation passed by Congress, we’re learning more about the Federal Reserve’s $3.3 trillion bailout of Wall Street in 2008. It turns out the Fed lent money ... (more)

Posted on Dec 1, 2010 READ MORE


Reviving Economy

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Posted on Nov 15, 2010 READ MORE


washington
Flickr / jmlawlor

Fed Shifts to Bond-Buying Mode to Boost Economy

The Federal Reserve is taking action to try to give the flagging U.S. economy a much-needed jolt by committing to buy up some of the government’s debt in the form of long-term Treasury securities.

Posted on Aug 10, 2010 READ MORE



Flickr / Sister72 (CC-BY)

Paul Krugman Is Freaking Us Out

He’s a one-man downer, but mainly because he’s smart, credible and pulls no punches. In his latest New York Times column, the Nobel Prize winner warns that the Federal Reserve isn’t taking a negative enough view of the economy—with potentially dire consequences. Happy Monday to you, too, Paul.

Posted on Jul 11, 2010 READ MORE


Bernanke
Wikimedia Commons / U.S. Federal Reserve

Bernanke: Unemployment to Be ‘High for a While’

There are economic indicators that we want to be on the high end of the scale, but unemployment isn’t one of them. Unfortunately, according to Federal Reserve Chairman Ben Bernanke, the U.S. unemployment rate ... (continued)

Posted on Jun 8, 2010 READ MORE


AIG sign

Senate Gives the Go-Ahead for Fed Lending Probe

When big financial institutions got themselves into a serious pickle in the fall of 2008, the Federal Reserve was there with beaucoup bucks in loans to prop them up. On Tuesday, the Senate voted unanimously to launch an inquiry into the Fed’s lending practices during the financial crisis.

Posted on May 11, 2010 READ MORE



‘iBailout’: Pocket Activism

The creator of “iBailout!!” says he wants to put his socially conscious games in front of a mainstream audience that might not normally engage with politics and activism.

Posted on Feb 4, 2010 READ MORE



‘iBailout’: Pocket Activism

Nick Marroni says, “My goal is to make games that have social and political relevance.” To that end he has created a satirical iPhone game called “iBailout!!” You play as the “Fed,” a robot that eats money. Just don’t let the angry mob get you.

Posted on Feb 4, 2010 READ MORE



Wikimedia Commons / Henry Han

Banks Gamble With Almost-Free Money

The Fed has been lending money at record-low rates, but instead of passing on the cash to businesses and consumers, big banks are rolling the dice in the financial markets. China and Japan have warned that these American high jinks could once again upend ... (continued)

Posted on Nov 24, 2009 READ MORE



Flickr / freemarketmyass

Bernanke Says Recession Is Over, Economy Still Sucks

Fed Chair Ben Bernanke declared Tuesday that the recession is “very likely over at this point,” but don’t get too excited. The non-investment bankers among us still have a lot to worry about: “[I]t is still going to feel like a very weak economy for some time as many people still find their job security and their employment status is not what they wish it was.”

Posted on Sep 15, 2009 READ MORE



Flickr / Roger@elaws ?

Nothing Has Changed on Wall Street

A year after Lehman Brothers went under—taking a big chunk of the economy with it—the deregulation and lax oversight that enabled the crisis are still a problem. According to this New York Times report, things might even be worse.

Posted on Sep 13, 2009 READ MORE



Federal Reserve

Bernanke Talks of Better Economic Times Ahead

After seemingly endless months of relentlessly distressing financial reports, Federal Reserve Chairman Ben S. Bernanke said Friday that the economic news is looking up on both the national and global economic fronts, and that “prospects for a return to growth in the near term appear good.”

Posted on Aug 21, 2009 READ MORE



Flickr / The TruthAbout...

Some Banks to Repay Bailout Funds

Some of the country’s major banks are prepared to pay back money they borrowed under the TARP program, but don’t get too excited. The initial repayment is expected to be a meager $50 billion, which Timothy Geithner wants to inject right back into other troubled banks.

Posted on Jun 9, 2009 READ MORE


Merkel Banks
telegraph.co.uk

Merkel Speaks Out on the Fed

German Chancellor Angela Merkel expressed what she called “great skepticism” at the ability of central banks to resolve the economic crisis, hinting that reliance on the institutions in Europe, the U.S. and the U.K. might backfire.

Posted on Jun 3, 2009 READ MORE


Bernanke
AP photo / Susan Walsh

Bernanke Gets Our Hopes Up

The good news: Federal Reserve Chairman Ben Bernanke believes the U.S. economy may show signs of bouncing back before 2010—yay! The bad news: Bernanke also believes that aftershocks from the recession may continue to wreak havoc for a good while to come—sigh.

Posted on May 5, 2009 READ MORE


Bernie Sanders
senate.gov

Bernie Sanders Wants Answers, Writes Legislation to Get Them

Fed chief Ben Bernanke may be able to dole out trillions in the blink of an eye, but on Tuesday he ran headlong into Congress’ only independent democratic socialist. Sen. Bernie Sanders demanded to know where all the Fed’s money was going. Bernanke said “no.” Sanders fired back by introducing a bill that would require such information to be posted to the Fed’s Web site.

Posted on Mar 3, 2009 READ MORE


Ben Bernanke
Federal Reserve

How Low Can Bernanke Go?

Ben Bernanke and his squad of rate setters are expected to cut interest by as much as three-quarters of a point on Tuesday. With rates already at 1 percent, we mortals are left wondering what the Fed chief plans to do when he runs out of rates to cut. Update

Posted on Dec 15, 2008 READ MORE


Escape Foreclosure
publicradio.org

Fed Faces Mortgage Challenge

The mortgage market got a lift following Tuesday’s announcement that the Federal Reserve was throwing in with a $600 billion resuscitation bid, but as Fortune’s Colin Barr points out, history offers at least two examples that the road ahead could be rocky.

Posted on Nov 25, 2008 READ MORE



Flickr / LoopZilla

Fed to Rescue Another Shaky Bank

What’s a hundred billion dollars between capitalists? The Fed and the Treasury are once again throwing good cash after bad business. This time the culprit is Citigroup, which could get bailed out—courtesy of you—to the tune of $100 billion. And with that, we’d like to announce that Truthdig is officially too big to fail. Update: Done deal.

Posted on Nov 23, 2008 READ MORE


Volcker
group30.org

Former Fed Chief: U.S. Already in a Recession

Former Federal Reserve Chairman Paul Volcker said Tuesday that the U.S. was already in a recession, despite the efforts of the U.S. government and other nations’ leaders to intervene. “I have seen a lot of crises but I have never seen anything quite like this one,” said Volcker, who headed up the Fed for eight years before Alan Greenspan took over in 1987.

Posted on Oct 14, 2008 READ MORE


Bernanke
AP photo / Manuel Balce Ceneta

And Now, Even More Bad Financial News

There will hopefully come a day when the news from Wall Street is actually good (at the moment, anything better than utterly terrifying news would be nice), but Tuesday was not that day, despite Federal Reserve Chairman Ben Bernanke’s intimations that help could soon be on the way.

Posted on Oct 7, 2008 READ MORE


Obama ad

Obama Ads, McCain-Is-Economically-Clueless Edition

Turns out that having Phil Gramm on one’s economic advisory team may not be the best way to demonstrate one’s readiness to inherit the gigantic mess that the U.S. economy has become under the Bush administration’s not-so-close watch—or at least that’s what Obama’s camp is pointing out in this ad on the financial debacle.

Posted on Sep 19, 2008 READ MORE


Greenspan
broadcatching.wordpress.com

Greenspan Talks Recession as Oil Prices Soar

Seems like everything is a crisis these days, what with the subprime mortgage crisis, the oil crisis and, perhaps most troubling of all, the climate change crisis. Former Federal Reserve Chairman Alan Greenspan acknowledged the complexity and interconnectedness of these unsettling trends Tuesday, stopping short of declaring that a major recession is on the way but without ruling out a recession of lesser magnitude.

Posted on Jun 24, 2008 READ MORE


Too Big to Fail

The government spread out a nice, soft net to catch the collapsing financial firm Bear Stearns. But if you’re a little guy who gets in trouble, expect to meet up with a somewhat harder surface.

Posted on Mar 20, 2008 READ MORE


U.S. Job Loss Highest in 5 Years

The short month of February was long on economic problems, as 63,000 U.S. jobs were lost over the 29 days. In other words, for those betting that a recession isn’t around the corner, the outlook is dim.

Posted on Mar 7, 2008 READ MORE


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