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Federal Reserve Chairman Ben Bernanke is speaking as though the Fed has controls over unemployment as well as price stability. That's a sure way to get Congress to exercise the authority by which it created the Fed and start overseeing it more closely.
Dec. 10 (Bloomberg) -- Treasuries declined before the sale of $13 billion of 30-year bonds today, after investors such as central banks bought the least amount of 10-year notes since June at an auction yesterday.
WASHINGTON (AP) - Two years of steep job cuts all but ended last month, unexpectedly pulling down the unemployment rate and raising hopes for a lasting economic recovery.
Dec. 10 (Bloomberg) -- Switzerland’s central bank said it will stop purchases of corporate bonds as it joins other countries in starting to withdraw emergency measures.
Dec. 10 (Bloomberg) -- Foreclosure filings in the U.S. will reach a record for the second consecutive year with 3.9 million notices sent to homeowners in default, RealtyTrac Inc.
WASHINGTON — Treasury Secretary Timothy Geithner told Congress on Wednesday that the administration will extend the government's financial bailout program until next fall, saying it is needed to protect against fresh economic shocks.
Japan’s currency snapped three days of gains against the so-called Aussie and fell for a second day against the kiwi after the statistics bureau in Sydney said the jobless rate fell to 5.7 percent and Reserve Bank of New Zealand Governor Alan Bollard said he expects to begin raising interest rates in the middle of next year.
The euro was steady against the dollar Thursday, but near recent lows as worries about European governments' finances continued to weigh on the common currency.
Dec. 10 (Bloomberg) -- Foreclosure filings in the U.S. will reach a record for the second consecutive year with 3.9 million notices sent to homeowners in default, RealtyTrac Inc.
WASHINGTON (AP) — The Obama administration has extended the $700 billion financial bailout program until October, setting up a struggle between Democrats who favor using some of the leftover money to help generate jobs and Republicans who say it should be used to shrink soaring budget deficits.
It wasn't too long ago big-time hedge fund managers like James Pallotta were erecting monuments to themselves. In Pallotta's case, it was a $21 million Georgian-style mansion he built in 2007 in Weston, a leafy Boston suburb uncomfortable with such displays of wealth.
Dec. 10 (Bloomberg) -- The yen fell for the first time in four days against the euro after an Australian report showed companies added six times as many jobs as economists estimated, spurring demand for higher-yielding assets.
Dec. 10 (Bloomberg) -- The yen fell for the first time in four days against the euro after an Australian report showed companies added six times as many jobs as economists estimated, spurring demand for higher-yielding assets.
Dec. 10 (Bloomberg) -- The Australian dollar carry trade, in which investors borrow Japanese yen, Swiss francs and U.S. dollars to invest in higher-yielding Australian assets, is stoking gains in the nation’s currency, central bank official Guy Debelle said.
Dec. 10 (Bloomberg) -- Treasuries were little changed as the U.S. prepared to sell $13 billion in 30-year bonds today after an investor group including central banks bought the least amount of 10-year notes since June at yesterday’s auction.
Dec. 10 (Bloomberg) -- Wall Street firms are recovering. Their standing with the American public isn’t. Executives at financial firms, coming off two years of failures, bailouts and writedowns, are less popular than Congress, lawyers and insurance companies.
