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  • Sen. Dems pressure NY Fed over bank regulation Friday, 21 Nov 2014 | 12:12 PM ET
    The New York Federal Reserve building in New York.

    Several Democratic senators criticized the NY Fed as too close to the mammoth financial institutions it regulates.

  • LONDON, Nov 21- Investment chiefs at the world's biggest asset managers this week unanimously forecast a stronger dollar in 2015, but they were far more cautious than many big banks on how far it would rise against the euro. Six months into a long-awaited rally for the dollar, Goldman Sachs and Deutsche Bank are among those predicting that this is just the start of...

  • Medicare doles out $45B in improper payments Friday, 21 Nov 2014 | 10:46 AM ET

    Federal agencies have doled out billions in erroneous payments over the last five years, but the problem is worsening, Fiscal Times reports.

  • WASHINGTON, Nov 21- Several Democratic senators on Friday criticized the New York Federal Reserve Bank as too close to the mammoth financial institutions it regulates, taking particular aim at the hiring of Fed alumni at firms like Goldman Sachs- and vice versa. that ties between the Fed and the banking industry are perceived as cozy, and arguably contributed to...

  • WASHINGTON, Nov 21- A top Democratic senator said on Friday he remains concerned about slack oversight of the largest U.S. banks, and that the New York Fed in particular remains too close to the institutions it regulates. "Troubling reports suggest that it is back to business as usual at the Federal Reserve Bank of New York," Ohio Democrat Sherrod Brown said as he...

  • "We are conducting a careful and thorough assessment of the costs and benefits of financial holding company engagement in these activities," Fed Governor Daniel Tarullo said in prepared remarks ahead of a Senate subcommittee hearing on the issue of banks' involvement with physical commodities. Goldman Sachs Group Inc, Morgan Stanley and J.P. Morgan built huge...

  • WASHINGTON, Nov 21- The Federal Reserve will issue in the first quarter of next year a formal notice of rules it has been reviewing for financial holding companies and their activities in the physical commodities markets, a top official with the U.S. central bank said on Friday. "We are conducting a careful and thorough assessment of the costs and benefits of...

  • Nov 21- Sysco Corp, the biggest U.S. food distributor, is in advanced talks to sell some assets to a food company owned by Blackstone Group in order to win regulatory approval for its acquisition of US Foods Inc, the New York Post reported, citing sources. Once Sysco strikes a deal to divest some assets, the Federal Trade Commission is expected to clear the acquisition,...

  • What's QE, anyway? A look at central bank stimulus Friday, 21 Nov 2014 | 1:11 AM ET

    LONDON— It's the stimulus measure with the long, baffling name. Quantitative easing, or QE— the large-scale purchase by a central bank of government bonds and other securities— has been used by the U.S. Federal Reserve, Bank of England, and the Bank of Japan.

  • SEOUL, Nov 21- San Francisco Federal Reserve President John Williams said on Friday that very low growth with very low interest rates was a concern globally.

  • DIARY - Top economic events to Dec 4 Thursday, 20 Nov 2014 | 7:01 PM ET

    WASHINGTON- Federal Reserve Board Governor Daniel Tarullo testifies on " Physical Commodities" before the Senate Homeland Security& Governmental Affairs permanent subcommittee on investigations in Washington- 1430 GMT. WASHINGTON- New York Federal Reserve Bank President William Dudley testifies to Senate Banking subcommittee on Financial...

  • Fed to review its oversight of big banks Thursday, 20 Nov 2014 | 7:00 PM ET

    The Fed's announcement came a day before a Senate subcommittee is scheduled to hold a hearing on whether Fed examiners— particularly in the Fed's New York operation— have become too cozy with the big banks they oversee. The bailout of Wall Street banks during the 2008 financial crisis brought the issue forward. William Dudley, the president of the New York Fed,...

  • Separate studies to be undertaken by the Fed's Washington- based Board of Governors and its Office of Inspector General are meant to ensure that "divergent views" about the state of large banks are adequately aired. The issue will be the focus of a Senate Banking committee hearing on Friday that features New York Fed President William Dudley as the chief witness.

  • WASHINGTON, Nov 20- New York Federal Reserve President William Dudley defended the system for supervising major banks, saying it has been dramatically improved and made safer since the 2007-2009 financial crisis. In testimony prepared for a Senate Banking Committee hearing on Friday but released on Thursday, Dudley said "it is undeniable that banking...

  • U.S. Fed launches review of supervision of major banks Thursday, 20 Nov 2014 | 4:15 PM ET

    WASHINGTON, Nov 20- The U.S. Federal Reserve has launched a review of how it oversees major banks, calling on its inspector general to help with the probe after a series of critical reports. Separate studies to be carried about by the Fed's Washington- based Board of Governors and its Office of Inspector General are meant to ensure that "divergent views" about the...

  • NEW YORK, Nov 20- Margaret Patel, senior portfolio manager at Wells Capital Management, said on Thursday that the U.S. stock market should surprise to the upside next year and that the Federal Reserve will not raise rates until potentially 2016.. "Equities will do surprisingly well," Patel said at the Reuters Global Investment Outlook Summit in New York.

  • FDA approves Purdue's painkiller that can reduce abuse Thursday, 20 Nov 2014 | 1:46 PM ET

    Nov 20- The U.S. Food and Drug Administration has approved a long-acting narcotic painkiller with abuse-resistant properties made by Purdue Pharma L.P., the agency said on Thursday. The FDA approved the once-daily drug, Hysingla ER, with the expectation that it will reduce, though not necessarily prevent, abuse through snorting or injecting.

  • WASHINGTON, Nov 20- Underlying inflation pressures rose in October, even as falling gasoline prices kept overall U.S. consumer prices in check, bolstering expectations of a mid-2015 interest rate hike from the Federal Reserve. The Labor Department said on Thursday its so-called core Consumer Price Index, which excludes food and energy, increased 0.2 percent,...

  • Nov 20- Goldman Sachs Group Inc said it fired a junior employee and a supervisor over the leaking of confidential information from the Federal Reserve Bank of New York. The confidential information provided Goldman a window into the New York Fed's private insights, including details about at least one of the bank's clients, the New York Times reported, citing...

  • LONDON, Nov 20- The dollar eased off a seven-year peak just shy of 119 yen on Thursday ahead of data that is expected to show U.S. consumer prices moderating as deflationary forces take hold across the globe. The dollar earlier romped as far as 118.98 yen, its highest since August 2007, after minutes from the Federal Reserve suggested the United States is still...