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Banking & Finance

The latest coverage of the banking and financial sectors.

Sen. Bernie Sanders, I-Vt., speaks to local residents during a breakfast meeting, Tuesday, Dec. 16, 2014, at the Drake Diner in Des Moines, Iowa. (AP Photo/Charlie Neibergall)

Bernie Sanders in Iowa: No way to address country's problems without 'political revolution'

By David Sherfinski - The Washington Times

Sen. Bernie Sanders, Vermont Independent, said in Iowa Tuesday he's trying to gauge whether or not he'll be able to mobilize enough grassroots support against the "billionaire class" to make a serious run at the White House in 2016. Published December 17, 2014

Federal Reserve Chair Janet Yellen makes a statement on jobs and economic outlook, Wednesday, Dec. 17, 2014, at the Federal Reserve in Washington. The U.S. economy is finally doing better, and the Federal Reserve may be ready to acknowledge that fact.   (AP Photo/Cliff Owen)

Fed will be 'patient' about possible rate hike in 2015

By David R. Sands - The Washington Times

Sending a subtle but clear signal of a change to come, the Federal Reserve Board ended a two-day meeting by holding U.S. interest rates steady and saying it will be "patient" about ending the easy-money stance it has adopted since the onset of the Great Recession. Published December 17, 2014

Recent Stories

Signs advertising currencies light next to the exchange office in Moscow, Russia, Tuesday, Dec. 16, 2014. After a massive overnight rate hike by Russia's Central Bank, the ruble staged a two-hour rally Tuesday morning before rolling back to new historic lows. (AP Photo/Alexander Zemlianichenko)

Russian government strike fails to halt ruble's slide

- The Washington Times

A sharp overnight hike in interest rates by Russia's central bank has failed to halt a record slide in the value of the ruble, which after a brief rally has fallen more than 11 percent against the dollar Tuesday in the face of intense selling by speculators.

Massachusetts Sen. Elizabeth Warren speaks to supporters during a rally for Kentucky senatorial candidate Alison Lundergan Grimes at the International Brotherhood of Electrical Workers Local Union 369 meeting hall in Louisville, Ky., Tuesday, Oct. 28, 2014. (AP Photo/Timothy D. Easley) ** FILE **

Elizabeth Warren: 'I am not running for president'

- The Washington Times

Sen. Elizabeth Warren of Massachusetts, who helped rally Democratic opposition to a trillion-dollar spending bill that passed over the weekend, provided an opportunity for fresh 2016 political tea-leaf reading in an interview for NPR's "Morning Edition."

More than 170,000 homes were sold in short sales in the U.S. from January through September this year, with an estimated $8.1 billion of mortgage debt forgiven, according to the latest data available from housing research and analytic firm RealtyTrac. (Associated Press)

'Short sales' home sellers face huge tax bills if breaks aren't reinstated

- The Washington Times

The wrangling in Congress that has prevented a package of expired tax breaks from being reinstated threatens to slap massive tax bills on thousands of Americans who have given up their homes in "short sales," a common practice after the 2008 real estate crash in which banks allow homes to be sold at lower prices than the amounts owed on the mortgages.

Recent Opinion Columns

Anvil and Dollar Inflation Illustration by Greg Groesch/The Washington Times

Fed yearns for higher inflation to disguise asset bubbles

Recent statements by Federal Reserve officials would lead just about anyone to believe that one of the bank's central missions has always been to guard against the lurking threat of deflation. They warn that since official inflation has remained below the Fed's 2 percent target for almost two years, the country is liable to fall into a stagnant morass unless the Fed acts boldly to hit its target. It may surprise many that this view is strictly a 21st-century development. The fear (some would say paranoia) regarding sub-2 percent inflation was nowhere in evidence in the past, even when inflation was lower than it is today.