Financial markets around the world were roiled Thursday after Japanese stocks suffered their biggest slide since the country was hit by a devastating tsunami more than two years ago.
Former IRS Commissioner Douglas H. Shulman's testimony that he deliberately kept himself in the dark about the tax service's brewing scandal runs counter to the responsibilities of agency heads regardless of whether they are political appointees, some government analysts said.
Before they arrive in Washington, D.C., the bikers of Rolling Thunder drive through hundreds of small towns, where they can count on receiving a hand from friends like Gary Komassa.
The economy is growing moderately and employment has picked up recently, but growth continues to be held back by budget constraints, Federal Reserve Chairman Ben S. Bernanke testified Wednesday.
Stocks fell in afternoon trading Wednesday on news that several Federal Reserve policymakers in a meeting earlier this month favored cutting back on stimulus programs as early as June if the economy continued to improve.
Several Federal Reserve policymakers this month favored slowing the central bank's efforts to maintain record-low long-term interest rates as early as June — if the economy showed strong and sustained growth. But those officials appeared at odds over what evidence would demonstrate such gains.
The stock market turned higher Tuesday as investors banked on continued policy support from the Federal Reserve. Two big retailers also topped Wall Street's expectations for the most recent quarter.
A plunge in the cost of gas drove down a measure of U.S. consumer prices last month by the most since December 2008. Excluding the drop in fuel costs, prices were largely unchanged.
