U.S. stock index futures pointed to a flat-to-lower open on Tuesday, as investors awaited results from a number of industry heavyweights.» Read More
NEW YORK, April 3- Federal Reserve Governor Jeremy Stein, who has spearheaded the debate over whether monetary policy should be used to combat asset bubbles, will step down next month, leaving another big hole in the ranks of the U.S. central bank. Stein will leave on May 28 to return to his teaching post at Harvard University.
The biggest change was for American Express, whose minimum capital ratio under stress declined by 0.5 percentage point to 12.1 percent. M&T Bank, which had the next lowest capital level on Thursday, was revised up by 0.3 percentage point to 6.2 percent under stress.
Only Zions Bancorporation, a Salt Lake City, Utah- based lender with $56.0 billion in assets, would be left with a regulatory capital ratio beneath the Fed's 5.0 percent minimum under the exercise. M&T Bank Corp 5.9 Bank of America Corp 6.0. Morgan Stanley 6.1 Ally Financial Inc 6.3.
Eight of the nation's largest banks will begin using their own models and systems to calculate the amount of capital they need to set aside.
*Faces House committee Tuesday, Senate committee Thursday. *GOP could criticize Fed stimulus. Feb 9- Janet Yellen's first test as chair of the Federal Reserve comes on Tuesday when she faces U.S. lawmakers, some hostile to the central bank, who will want to know how committed she is to winding down the Fed's support for the economy.
LONDON, Feb 9- The euro zone and its constituent parts will report fourth quarter economic growth numbers at the end of the week, offering policy makers at the European Central Bank a needed snapshot of the bloc's underlying strength. There has been general improvement but a growing disparity between Germany and France, the currency union's largest economies.
The rapid drop to 6.6 percent in U.S. unemployment means Chair Yellen may have to redraw the Fed's taper plan.
*Fourth-quarter GDP grows at 3.2 percent annual rate.
The fund industry is criticized for its 7,500 funds—some say marketing takes precedence over investing. Are ETFs catching up when it comes to bloat?
*Senate votes 59-34 to move forward with nomination. WASHINGTON, Dec 20- Janet Yellen, an unwavering advocate of the Federal Reserve's aggressive steps to boost the U.S. economy, on Friday took a big step toward becoming the first woman to chair the central bank as her nomination cleared a Republican procedural hurdle in the Senate.
*Senate votes 59-34 to move forward with nomination. WASHINGTON, Dec 20- Janet Yellen, an unwavering advocate of the Federal Reserve's aggressive steps to boost the U.S. economy, on Friday took a big step toward becoming the first woman to chair the central bank as her nomination cleared a Senate procedural hurdle.
Dec 20- Janet Yellen owes part of her dovish reputation to her embrace of an "optimal control" policy approach that tolerates inflation temporarily overshooting the Federal Reserve's 2 percent goal, in return for a quicker decline in U.S. unemployment.
SAN FRANCISCO/ NEW YORK, Dec 20- By ensuring the Federal Reserve begins trimming its massive bond-buying stimulus before a more hawkish contingent of voters comes on board next year, Fed Chairman Ben Bernanke has greased the skids politically for his successor, Janet Yellen.
*Unemployment, inflation thresholds to guide rate decision. By Ann Saphir and Jonathan Spicer.
U.S. stock index futures pointed to a higher open on Wednesday, with lawmakers looking to strike a deal to lift the country's borrowing limit before Thursday's deadline.
News that high-profile investors are dramatically exiting positions in gold is a positive for bullion as it implies that the worst of institutional selling could be over.
Billionaire investor George Soros has been busy stocking up on hedge fund favorites as he joined others in dumping gold exchange traded fund (ETF) holdings in the second quarter.
U.S. stock index futures turned slightly positive Wednesday after Fed Chairman Ben Bernanke reiterated the central bank's plan to start paring back its bond-purchase program later this year, but said that could change if the economic outlook shifted.
Fed Chairman Ben Bernanke is not likely to say much new when he testifies before Congress Wednesday, but even so, he could rock the markets.
The threat of less central bank stimulus and higher interest rates crushed emerging markets more than most recently. And some investors see deals.