The Federal Reserve is all but certain next week to begin a multibillion-dollar effort to coax the recovery along, but privately, Ben S. Bernanke, the chairman, worries that more is needed to turn the sluggish economy around and revive employment, reports the New York Times.
During times of uncertainty investors need to think of the long-term, Sharmin Mossavar-Rahmani, chief investment officer of private wealth management group at Goldman Sachs spacer told CNBC on Thursday.
Is there an easier solution to fixing the economy? Should we look at cutting military benefits? Taxing religious property? Selling national park land? Share your opinion.
Phil Bredesen says those states that have become dependent on federal funding are going to be in trouble in January when stimulus money dries up.
TrimTabs is estimating U.S. equity mutual funds saw INFLOWS of $759 million in the past week. Why is this significant? That would be the first time in essentially 6 months that inflows have gone into U.S. equity mutual funds, which are largely owned by retail/individual investors.
Exxon reported a modest beat—important to look at the earnings stream, because the profits are big. Upstream earnings—that's exploration and production of oil and gas $5.47 billion—$1.46 billion more than same period last year—this is the first full quarter with XTO included.
The Treasury Department’s Inspector General for TARP, Neil Barofsky, handed down that opinion in his review of the Obama administration's programs Monday, noting that fewer than 470,000 households received permanent modifications under Treasury’s Home Affordable Modification Program, or HAMP, and that the program is not on track to meet goals of modifying 3-4 million mortgages by 2012.
Oscar Goodman is winding down his tenure as perhaps the most famous mayor in Las Vegas' history. He hopes to go out on a high note, even as the state reports the city's unemployment rate has reached a record high of 15 percent.
Over the summer, Barack Obama promised a college education program that would produce 8 million more college graduates by 2020. Recently uncovered data from the Bureau of Labor Statistics suggest that this is a terrible idea.
Washington State governor Christine Gregoire says her state and others are struggling—running out of money and dealing with major budget shortfalls.
Treasurys, which have been trading poorly for several weeks, are down again today...the possibility of a very modest QE2 program from the Fed (see the Hilsenrath piece in the WSJ this morning) is pushing the dollar up and pressuring commodity, industrial, and energy stocks.
The two stories related to mortgages do not have a great deal in common, other than tracing their lineage to the home loans of dubious provenance that were doled out to anyone with a pulse between 2005-07 and quickly packaged up into securities and sold by Wall Street to accounts around the planet.
Lost in all of the attention paid to the heavy spending by Republican-oriented independent groups in this year’s midterm elections is that Democratic candidates have generally wielded a significant head-to-head financial advantage over their Republican opponents in individual competitive races. The NYT reports.
Across Washington, lobbyists have been working behind the scenes now for months to prepare for the possible power shift after the November election. The NYT reports.
Barely eking out a gain yesterday, the index is now up 5 straight days heading into today’s session. Even though it has been nearly a straight ride up for the markets over the last 2 months, the S&P’s current winning streak is its longest since July, when it was up 6 straight days.
Denture wearers will get a tax break on the cost of adhesives to keep their false teeth in place. But nursing mothers will not be allowed to use their tax-sheltered health care accounts to pay for breast pumps and other supplies, reports the New York Times.
Earnings: inflation rears its head, compressing margins at big users of raw materials. My prior reported noted strength in the luxury retailers—but let's look at the other side of the coin today—the middle market, particularly home improvement, continues to see terrible results. And one reason margin is under pressure is inflation.
Airgas sent a letter to Air Products reiterating its opposition to the $65.50 offer. More importantly, it also stated that each of Airgas' ten directors think the offer is inadequate. This is significant because in a hotly disputed vote Air Products succeeded in replacing three Airgas directors.
Coach has confirmed that global luxury brands are in good shape. Coach reported astonishing numbers, well above expectations (gross margins of 74.2%!) with strength not just in Asia but also in the U.S.
The US can afford another stimulus package but needs to commit to long-term deficit reduction to help states handle pension liability, Laura D’Andrea Tyson, an economic adviser to Obama, told CNBC Monday.