The Fed should "explicitly" say it will keep rates near zero until the economy is within a year of reaching Fed goals, a policymaker said.» Read More
Though it may not seem like much by the relatively loquacious and candid ways of his successor Ben Bernanke, Alan Greenspan was a proponent of transparency and made the Fed more transparent than his predecessors– even if his speeches and official testimony were memorably obtuse.
Daniel Mudd, chief executive of mortgage lender Fannie Mae, told CNBC that the housing slump won't hit bottom for another year and that the current credit crunch will spread “all across the housing market.”
The Fed's comments yesterday calmed some of the credit angst in the markets and set the stage for a move higher in global equities. U.S. stocks are positioned to trade higher this morning, and Cisco's strong earnings news is adding some punch to the Nasdaq.
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The Federal Reserve left a key interest rate unchanged on Tuesday as worries about inflation trumped concerns about turbulent financial markets. Fed Chairman Ben Bernanke and his colleagues voted unanimously to keep their target for the federal funds rate, the interest that banks charge each other, at 5.25 percent, where it has been for more than a year.
The U.S. Federal Reserve is expected to hold overnight interest rates steady and reaffirm concerns about inflation at its meeting on Tuesday, but may also acknowledge emerging signs of economic weakness.
The Bernanke Fed is being put to its first big test as Fed watchers monitor its handling of the credit drama when it releases its statement at 2:15 p.m. The Fed's one day meeting is not expected to end with any adjustment in rates, but traders are hoping for a tweaking of the Fed statement with language that will soothe some of the anxiety about mortgage and credit markets.
The market is in dire need of a rate cut, Cramer said. Here's his plea to Fed Chairman Ben Bernanke.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Financial journalism can be a complicated business. When you’re immersed in it, it’s sometimes easy to forget that you need to present your viewers, listeners and readers with material that’s clear, concise and accessible. Chet Currier never forgot. Chet -- one of the best financial columnists ever to put words to paper -- passed away this past weekend at the age of 62.
After a first quarter swoon, business is more upbeat about the current quarter and the rest of the year--especially when it comes to hiring, profits and productivity, the latest survey by the National Association for Business Economics shows.
Many lawmakers, along with advocates for low-wage workers, are celebrating the first increase in the federal minimum wage in a decade. Yet many acknowledge that raising it from $5.15 an hour to $5.85 will provide only meager help for some of the lowest paid workers.
Investors picked up where they left off a week ago, as stock prices hurtled to new highs with the Dow Industrials setting another milestone, but a Friday selloff kind of spoiled the mood.
Even fed Chairman Ben Bernanke says the slump is worse than originally thought.
Federal Reserve Chairman Ben Bernanke devoted a significant amount of his prepared testimony on the economics of the housing market, mortgage lending and regulation. Here are excerpts of his semi-annual monetary policy report to to House Committee on Financial Services, July 18, 2007.
I’ll be the first to admit that Federal Reserve Chairman Ben Bernanke’s semi-annual testimony before Congress isn’t one of my favorite occasions. ... But I’ve come to notice that “highlights” of the Q & A – which I define as interesting, non-repetitive answers that have the potential to be market moving – come most often when Mr. Bernanke gets an intelligent question...
The Federal Reserve's latest projections for core inflation signal the U.S. central bank hasyet to be convinced inflation is easing, suggesting monetary policy will stay on hold until it sees more compelling data.
"One risk to the outlook is that the ongoing housing correction might prove larger than anticipated, with possible spillovers onto consumer spending,” Fed chairman Ben Bernanke told the House Committee on Financial Services this morning. That’s not what he said just two months ago. May 17, in Chicago, at the Federal Reserve Bank of Chicago’s 43rd Annual Conference on Bank Structure and Competition.
Many analysts are facing this week's flood of earnings with a healthy dose of skepticism, knowing that results will once again have to exceed Wall Street's expectations to continue the market's advance. The earnings parade comes as the Dow Jones Industrial Average and the S&P 500 trade at record highs with the blue-chip index touching 14,000 for the first time. But rally aside, analysts believe there are still issues hanging over the market, which have caused a large share of the volatility since June.
Federal Reserve Chairman Ben Bernanke is likely to tell Congress this week the central bank is more worried U.S. inflation will flare than it is that housing market turbulence will seriously damage the economy.
What a week. The earnings parade arrives, two key reports on inflation are released and Fed Chairman Ben Bernanke makes two appearances before Congress. The stock market's red hot rally at the end of the past week was fired in part on expectation that global growth will continue to pump up earnings, and a slew of corporate report cards will be dealt out next week when banks, techs, airlines and others report quarterly results.