CNBC's Sara Eisen reports the Senate Banking Committee considers the nomination of Stanley Fischer for Fed Vice Chairman.» Read More
Markets hang on the Fed's every word, and already investors have been handicapping the outcome of possible changes in the Fed's statement Wednesday afternoon.
There is still a long way to go for the US economy before it gets better, and a long-term strategy to deal with the increasing budget deficit is needed for the Federal Reserve's quantitative easing policies to be successful, economists told CNBC Tuesday.
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.
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.
Federal Reserve Chairman Ben Bernanke deserves to be reappointed, because he did a great job in saving the US banking system from collapsing, Jack Welch, author of "Winning" and "Straight from the Gut," told CNBC Thursday.
We've recently received questions from clients that go something like this, "If you are so nervous about the stock market after it has run-up 40% in 3 months, why do I have only 10%-15% cash in my equity portfolio?"
National Economic Counsel Advisor Larry Summers told CNBC Tuesday that President Obama's call for new regulations in the financial industry has no winners or losers and is more like a re-organization than creating new agencies
Federal Reserve Chairman Ben Bernanke on Wednesday urged financial institutions that specialize in community development and banking to the poor to take steps to ensure they emerge from the financial crisis stronger.
Below is the full transcript from the interview with President Obama on June 16th, 2009.
I think Ben Bernanke knows the way out of what could be an inflationary mess, with all the stimulus that is being introduced....I think he knows the way out, and we should let him take it. I'm fearful that the Chairmanship of the Federal Reserve is going to be politicized, and, while we are not worried about near-term inflation, we sure better have a guy who knows the way out when the time comes.
St. Louis Fed President James Bullard told CNBC Monday that he is cautiously optimistic that there will be economic growth in the US during the second half of the year.
President Barack Obama is ready to roll out an overhaul of the intricate rules and systems that govern America's troubled financial institutions, proposing the most ambitious revision since the Great Depression.
The long-running and personal feud between Mr. Dugan and Ms. Bair is now helping to shape President Obama ’s attempt to revamp financial regulation aimed at preventing the regulatory lapses that contributed to the economic crisis.
“I would assume this will go down to the wire," says one economist. “The jury is still out on whether all these programs are working or not working. There’s no mileage for the administration to declare early.”
Did the Federal Reserve’s Ben Bernanke lie about pressuring the Bank of America not to back out of the Merrill Lynch merger? BofA spacer CEO Ken Lewis made this charge to New York AG Andrew Cuomo, and basically repeated it with a bit of sugar-coating in a House hearing today on Capitol Hill.
The US Dollar Index, which averages the exchange rates between the US dollar and six major world currencies, has fallen over 10 percent since the high on March 5, 2009.
The Federal Reserve's balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional audit, Jim Grant, editor of Grant's Interest Rate Observer, told CNBC.
A Fed interest rate hike in the coming months is being viewed with caution by analysts, who say the economy is nowhere near ready for a brake on growth.
The Obama administration needs to present a detailed plan to investors to show how it will "restore fiscal sustainability," Pimco CEO Mohamed El-Erian told CNBC.
The recent surge in interest rates is threatening not only the housing market but the overall economic recovery and three-month-long stock rally, experts say .