Former Treasury Secretary Timothy Geithner has taken a job as president of the private equity firm Warburg Pincus.» Read More
President Obama is in the process of interviewing three candidates for the position at the helm of the central bank: Larry Summers, Janet Yellen, and a dark horse, Donald Kohn.
President Obama pushed back against criticism of his former economic adviser Lawrence Summers, who is seen as a leading candidate to become the new chairman of the Federal Reserve.
President Barack Obama pushed back on Wednesday against criticism of his former economic adviser, Lawrence Summers, who is seen as a leading candidate to become the new chairman of the Federal Reserve, Democratic lawmakers said.
Some in Washington said the plan was most likely White House positioning designed to contrast the president's compromising spirit with Republican stubbornness ahead of partisan fiscal fights expected after Labor Day.
July 30- The two-horse race to replace Ben Bernanke as the Federal Reserve chairman appears to have come down to gender. The White House, it seems, would prefer Larry Summers, Bill Clinton's U.S. Summers is a distinguished economist, a former chief economist of the World Bank and briefly, until he was subsumed by controversy, president of Harvard University.
Obama and Congress face two fiscal deadlines in quick succession. And in early November, Congress must raise the legal limit on the country's borrowing authority or risk an unprecedented default on the government's debt, a much more consequential event than a shutdown because of its potential to cause chaos in financial markets and harm the economy.
WASHINGTON, July 25- President Barack Obama could be months away from announcing his pick to replace Ben Bernanke at the Federal Reserve, yet critics are already making an unusual public effort to stop one contender in the race- former U.S.
WASHINGTON, July 23- President Barack Obama has not made a decision on a nominee to replace Federal Reserve Chairman Ben Bernanke, who is expected to step down at the end of his term in January, a person familiar with the process said on Tuesday.
WASHINGTON, July 18- When Gina McCarthy steps into her new role as administrator of the U.S. Environmental Protection Agency she will face an army of lawyers trying to sway the agency as it writes rules on power-plant emissions that will form the centerpiece of the Obama administration's climate-action plan.
NEW YORK, July 15- A federal judge is days away from deciding if New York developer Larry Silverstein can recover as much as $3.5 billion from airlines for damages to the World Trade Center on Sept. 11, 2001, on top of more than $4 billion he has received from insurers.
The United States, the European Union, Britain, Japan and other nations should come up with a regulatory regime that works across all borders. One common derivative, for example, an exchange-rate swap, allows parties in the United States to get payments in U.S. dollars while those in Europe are paid in euros.
WASHINGTON, July 8- Amid questions about the future of President Barack Obama's healthcare reform law, the White House has hired a widely respected policy expert from the Clinton administration to help coordinate final implementation of "Obamacare."
SAN FRANCISCO, July 3- Silicon Valley has tried to distance itself from the controversial U.S. surveillance programs exposed by Edward Snowden, but there is a long history of close cooperation between technology companies and the intelligence community.
Erskine Bowles, deficit commission co-chairman, praised a tax-reform plan that would start over with a "blank slate."
*Ethiopia, Ghana, Kenya among first countries in program. JOHANNESBURG, June 30- Pointing to Africa's crippling lack of electrical power, President Barack Obama is due to announce on Sunday a $7 billion initiative over five years to double access to power in sub-Saharan Africa.
At issue in the case were the estate taxes a New York lesbian widow owed upon her wife Thea Spyer's death in 2009. Because they were gay, surviving spouse Edith Windsor missed out on a lucrative tax break- the exemption from the federal estate tax on wealth passed from one spouse to another.
*Justices pave way for same-sex marriage in California. WASHINGTON, June 26- The U.S. Supreme Court delivered a landmark victory for gay rights on Wednesday by forcing the federal government to recognize same-sex marriages in states where it is legal and paving the way for it in California, the most populous state.
LUCERNE, Switzerland, June 26- Billionaire Marc Rich, who invented oil trading and was pardoned by President Bill Clinton over the then-biggest tax evasion case in U.S. history and busting sanctions with Iran, died on Wednesday from a stroke in Switzerland at 78..
LONDON, June 26- Marc Rich, father of modern oil trading and founder of the group that became Glencore Xstrata, has died at the age of 78, the head of his philanthropic foundation said on Wednesday.
WASHINGTON/ SAN FRANCISCO, June 21- Twelve of the 14 judges who have served this year on the most secret court in America are Republicans and half are former prosecutors. Another helped direct the White House war on drugs.