The Federal Reserve is widely expected Wednesday to stick with its aggressive efforts to strengthen a still-subpar economy.
Ben Bernanke is intensifying speculation that this year will be his last as Federal Reserve chairman by deciding to skip the Fed’s annual August conference in Jackson Hole, Wyo.
As big financial institutions like Goldman Sachs and JPMorgan Chase get set to report earnings over the next week, they are under pressure to show investors they can correct mistakes from the financial crisis and still post big profits. While profitable of late, there are worries that the recent run-up in earnings is just masking the problems.
The number of people seeking U.S. unemployment aid barely changed last week, and the average over the past month fell to a fresh five-year low. The decline in layoffs is helping strengthen the job market.
The Federal Reserve foresees unemployment remaining high into 2015, suggesting it will keep short-term interest rates near record lows at least until then.
Billionaire Warren Buffett says American banks are stronger than they’ve been in years, and won’t derail the economy.
Federal Reserve Chairman Ben Bernanke said Thursday that banks’ overly tight lending standards may be holding back the U.S. economy by preventing creditworthy borrowers from buying homes.
Chairman Ben Bernanke offered a sharp defense Monday of the Federal Reserve’s bold policies to stimulate the weak economy, while cautioning Congress to respect its private discussions.
Republican Mitt Romney is trying to shift the focus of the presidential campaign away from anti-American violence overseas and back to the economy, accusing President Barack Obama of ignoring Chinese trade violations and pointing to a new Federal Reserve effort to bolster the economy as evidence of Obama’s weak policies.
On Monday, the Treasury Department sold 553,846,153 shares in AIG on Monday, turning an $18 billion profit on the $32.50 a share price.
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