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By Tammy Bruce
Topic - federal reserve bank of new york
Although delinquency rates have trended down for most household debt categories over the past several years, student loan delinquencies are on the rise.
Student loan debt hit an all-time high of $1 trillion as of December, according to the Federal Reserve Bank of New York, which raises concerns about young people being able to buy homes. Is one American dream canceling out the other?
Former U.S. Treasury Secretary Timothy F. Geithner's (GYT'-nurz) memoir has a title, "Stress Test," and a release date, May 13.
The most important president in America may not be Barack Obama, who chases golfing dreams in drought-stricken California while we pause this holiday to honor giants like Washington, Jefferson, Lincoln, Roosevelt and Reagan.
President Obama can add $1 trillion to the Social Security trust fund with an executive order ("$30 trillion in red ink," Comment & Analysis, June 11). According to the U.S. Consumer Finance Protection Bureau, student-loan debt is $1.2 trillion. The confluence of student-loan debt and the underfunded Social Security trust fund creates an opportunity.
Former Treasury Secretary Timothy Geithner has a book deal.
President Obama and members of Congress have spent so much that the federal debt is headed toward $16.4 trillion. Those lawmakers must be using budgetary skills they picked up in college, as undergrads around the nation are racking up red ink at a record pace. Student loan debt jumped $42 billion last quarter, the New York Federal Reserve reported last week, bringing the total owed to about $1 trillion.
The politics of renewable energy is heading the agenda in battleground Nevada, where Democratic Senate Majority Leader Harry Reid is hosting a fifth annual green-energy conference at a Las Vegas Strip resort.
Stronger news about the U.S. economy stilled the ripples from Europe's latest political impasse Tuesday, pushing U.S. stocks between modest gains and losses.
Wooing young voters, President Barack Obama is on a blitz to keep the cost of college loans from soaring for millions of students, taking his message to three states strategically important to his re-election bid. By taking on student debt, Obama is speaking to middle-class America and targeting an enormous burden that threatens the economic recovery.
The federal student-loan program seemed like a great idea back in 1965: borrow to go to college now, pay it back later when you have a job.
The federal student loan program seemed like a great idea back in 1965: Borrow to go to college now, pay it back later when you have a job. But many borrowers these days are close to flunking out, tripped up by painful real-life lessons in math and economics.
A stable dollar and prices are consistent with maximum sustainable job and wealth creation. However, the Fed's dual mandate to pursue full employment and price stability has given it license to meddle in the economy to boost short-term employment, with disastrous consequences.
Top Federal Reserve officials are prodding the White House and Congress to take more aggressive action to stop the free-fall in the housing market, warning that the U.S. economy will remain sluggish and vulnerable and will not fully recover until housing returns to better health.
Stronger reports on the job market and manufacturing sent stock indexes higher in afternoon trading Thursday. FedEx jumped 7 percent after reporting a surge in earnings.