Latest Ben S Items
The Federal Reserve on Wednesday for the first time announced a new target of 6.5 percent unemployment for the U.S. economy — down from the current 7.7. percent — and started an additional easing program aimed at achieving that goal.
Mitt Romney decried the Dodd-Frank Act as "the biggest kiss that's been given to New York banks I've ever seen." Since its passage, 122 community banks have closed. If the election had turned out differently, there would have been a prospect of repealing Dodd-Frank. There still may be grounds for a modicum of reform, particularly of "too big to fail" (TBTF) banks and doctrine.
Even with ho-hum growth, the U.S. is starting to look like an outperformer in a world where Britain and the rest of Europe are in a double-dip recession, Japan is falling into what may be a triple-dip downturn, and some formerly robust emerging markets recently have slowed to a near-standstill.
Federal Reserve Chairman Ben S. Bernanke on Tuesday urged Congress and the Obama administration to strike a budget deal to avert tax increases and spending cuts that would send the government over a "fiscal cliff" in January and could trigger a recession next year.
U.S. homes are entering the foreclosure process at a slower pace than a year ago, and fewer properties are being repossessed by lenders, new data show.
President Obama's second term means for the first time since the early days of our republic (Jefferson-Madison-Monroe), we'll have three straight two-term presidents.
Stocks plummeted Wednesday as the re-election of President Obama reinforced fears that a battle over higher taxes will drive the U.S. economy over the "fiscal cliff."
Chairman Ben S. Bernanke is rejecting arguments that the Federal Reserve's bold moves to bolster U.S. job growth could have unwanted consequences in emerging market countries.