During the debate over financial regulation, the Federal Reserve chairman, Ben S. Bernanke, has been surprisingly quiet. But behind the scenes, he has been a forceful proponent of giving the Fed more power, both defending his management of the economic crisis and arguing that more authority would help the agency act more decisively to reduce the chances of a recurrence, according to interviews with lawmakers and officials from the Fed, the Treasury and the White House.
Futures popped about 5 points as durable goods were unexpectedly positive (up 1.8 percent, expectations were for a drop of 0.9 percent).
Futures jumped Wednesday after a better-than-expected rise in durable-goods orders.
If you're looking for clues as to the impact of a government-sponsored option for health insurance, Florida's experiment with a public option for homeowner's insurance offers some clues - and real concerns, writes Tony Fratto a former Deputy Assistant to the President and Deputy Press Secretary for the Bush Administration.
Warren Buffett's latest assessment of the U.S. economy will be a prime topic of conversation later this morning when he appears live on CNBC television. Buffett is scheduled to be interviewed by Squawk Box co-anchor Becky Quick at 11:45a ET, just before he hosts a charity lunch at New York's Smith & Wollensky steakhouse.
With signs the economy is improving but still fragile, Federal Reserve policymakers are considering whether some programs intended to drive down rates on mortgages and other consumer debt should be slowed down.
Stocks are moving sideways on lackluster action. While we are not seeing the active selling we saw yesterday, buyers are clearly hesitant to step in.
President Obama is prescribing change in the healthcare system. The issue is front and center right now before Congress and Wall Street...We may see some volatility in a sector that’s traditionally very stable. Analysts say it’s time to reexamine your pharma stocks and position yourself for the changes President Obama will make.
The President has spoken out in support of the clean energy legislation that is making its way through the Congress. There should be a vote this Friday in the House--there is a very good chance it will pass, although its fate in the Senate is less than clear since it needs 60 votes to pass.
The Obama Administration’s aggressive and seemingly frantic pressure to get a health care bill passed over the next few weeks (a virtual impossibility) brings back memories of sixteen years ago, in 1993 when the newly inaugurated Clinton Administration tried exactly the same thing. And it was that very aggressiveness on the part of (most particularly) Hilary Clinton that (thankfully) ultimately doomed the project. I predict the same thing will happen again in 2009.
Futures indicated a fairly flat open for Wall Street Tuesday, after the stock market saw its worst one-day loss in two months, as defensive stocks rose.
Plus, get calls on health care, the banks and more.
Does the Obama administration really want to grant a virtual dictatorship to the Federal Reserve on monetary policy and banking oversight and regulation? The Fed already has enough trouble figuring out monetary policy. So this business about the central bank engaging in systemic-risk regulation and all the accompanying regulatory bells and whistles makes no sense.
It looks like President Obama’s big-bang health-care reform is going down to defeat. This is good. But my question is why do we need it at all?
While the Obama administration’s financial overhaul plan is directionally correct, it requires refinement, said Gene Ludwig, CEO of Promontory Financial, a firm that tries to fix troubled banks.
Both parties not only question the Fed’s performance but worry that the financial reforms will make the central bank even more politicized.
And you thought PETA sending President Obama a Katcha Bug Humane Bug Catcher was the end of the Presidential Fly Flap. The most hilarious twist yet in the uproar over the President's quick dispatch of a fly to fly heaven is an interview with...the fly's widow.
President Obama's proposed financial reform has sparked a debate among lawmakers and members of the financial sector. Some argue that the plan's creation of a separate consumer protection agency will cause unnecessary confusion, while others say it will give the Federal Reserve too much power. CNBC talked to the experts for their opinion on the proposal.
The high cost of securing health insurance for all Americans, the top domestic priority of President Obama, has Congressional Democrats scrambling to scale back their proposals or find ways to trim tens of billions of dollars a year from existing health programs.
Creating a separate Consumer Financial Protection Agency could cause banks to make unsound loans, said Camden Fine, president and CEO of the Independent Community of Bankers.