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President Obama is "now a lame duck and paralyzed" in his ability to use fiscal policy to influence the economy, Hans Redeker, the global head of foreign exchange strategy at BNP Paribas, told CNBC Wednesday.
It probably makes sense to convert your old 401 (k) to a Roth IRA if you think you're going to be in a higher tax bracket later and you have the money to pay the taxes you'll incur with the conversion.
Read here an excerpt covering the Federal Open Market Committee's discussion of monetary policy, taken from the minutes of the FOMC's Aug. 10 meeting.
With the economy this uncertain and corporate M&A activity on the rise, "this is not the time for investors to just think about IG (investment grade) or high yield as sectors. You want to look at name specific," Fisher said.
The US economy needs another government stimulus program as big as the one President Obama pushed through Congress in February 2009, economist Paul Krugman said on CNBC Monday.
What was obvious at last week's annual meeting of central bankers at Jackson Hole, Wy., was that they aren't certain how to conduct policy now that interest rates are near zero. There also are big differences about what to do when things return to “normal.”
It seems to me that the debate about the pending expiration of the Bush tax cuts boils down to a very difficult choice between two bad outcomes. Despite what some politicians would have us believe, extending the cuts will adversely affect a very bad deficit situation.
The Fed chairman, Ben S. Bernanke, has made it clear that the Fed cannot simply conjure up a recovery. The New York Times reports.
A rally in stocks (today's gains were the biggest in nearly four weeks) has caused havoc in the bond market with the yield on the 10-year Treasury note doing something we don't see often—backing up considerably (yield rising, price falling.)
Even as the economy languishes and likely has several quarters of slow growth ahead, Fed Chairman Ben Bernanke was able to convince investors Friday that the central bank will do all it can to promote growth.
Read the full text of Federal Reserve Chairman Ben Bernanke's speech in Jackson Hole, Wyoming here.
While immediate market tensions have mostly passed, the sovereign debt crisis continues to be a challenge in Europe and fiscal consolidation is an important “long-term project,” said Axel Weber, president of the Deutsche Bundesbank.
What does your desk look like? Everything in it's place? Do you straighten your stack of Post-it notes? Or does it look like a tornado just went through?
Economic growth has turned slower than policy makers had expected but will steady into the end of the year and get back to normal in 2011, St. Louis Fed President James Bullard told CNBC.
A major disaster sets the perfect stage for grandstanding. And nothing was more “major” at the time than Hurricane Katrina. Business and government leaders laid out their dramatic plans to come to the rescue.
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The Katrina anniversary is all about contrasts. More than one resident has called it a tale of two cities and, as cliched as that phrase may be, it certainly applies here. Unemployment is below the national average, but poverty is twice the national rate.
"In its recent statements, the Fed didn't explain its actions after modestly changing policy," Bank of America chief economist Mickey Levy said. "Bernanke needs to lay out what the Fed's views are on inflation."
As long as we think housing is still in deep trouble, nobody's going to make a move.
Members of the Federal Reserve, led by chairman Ben Bernanke, are meeting at their annual symposium in Jackson Hole, Wyo. All eyes and ears will be on Bernanke's remarks to the group on Friday, which will be his first public comments since the Fed announced it will use proceeds from mortgage bonds to buy Treasury securities.