WASHINGTON—In a detailed review of the causes of the financial crisis, former Federal Reserve Chairman Alan Greenspan acknowledged a range of regulatory failures but strongly disputed the widely held view that the Fed left interest rates too low for too long. More The Crisis: Read the Greenspan paper [...]
AP - The stock market continued its slow and steady advance of the past month after the Federal Reserve said it would keep interest rates low to revive the economy.[Read more...]
Stock futures pointed to a higher open Wednesday after the Federal Reserve and Bank of Japan reaffirmed plans to keep interest rates low. More than two hours before the start of trading, Dow Jones Industrial Average futures were 24 points higher at 10710. The S&P 500 futures advanced 3.9 points to 1158.8 and Nasdaq 100 [...]
The Federal Reserve said it will end, as planned, one of its main supports for the U.S. economy—purchases of $1.25 trillion of mortgage-backed securities—allowing a nascent economic recovery to stand with less government support. Fed’s Balance Sheet View Interactive Journal Community Fed officials ended a [...]
AP - The Federal Reserve on Tuesday repeated its pledge to hold interest rates at record lows to foster the economic recovery and ease high unemployment.[Read more...]
Home construction tumbled in February, with major snowstorms crippling business already hobbled by foreclosures. More EconTracker: Where are housing starts headed? Odd Way to Measure Mortgage Modifications Separately, U.S. import prices in February posted their first monthly drop since July 2009, dragged down by lower fuel prices, indicating [...]
AP - A new Democratic Senate bill to tame the financial markets would give the government new powers to break up firms that threaten the economy, force the industry to pay for its failures and create a consumer watchdog within the Federal Reserve.[Read more...]
WASHINGTON—Several senior Republicans have joined negotiations with Banking Committee Chairman Christopher Dodd (D., Conn.) over how to construct consumer-protection rules, potentially bringing more Republican votes to a broader revamp of finance rules—if Democrats can stomach more concessions. “We’re very, very, very close to a deal,” Sen. Bob Corker (R., Tenn.) said in an interview. The [...]
WASHINGTON–Key senators were close to a deal on legislation to overhaul financial regulations, people familiar with the matter said, bringing the U.S. a step closer to sweeping changes to the way banks interact with consumers and the markets alike. Top senators from each party were near a breakthrough agreement to create a new consumer-protection [...]
The stock market extended its winning streak to four days as investors returned their focus to U.S. economic policy. The Dow Jones Industrial Average briefly slipped into the red late in the session during a speech by President Obama calling for further action on banking regulation, health-care reform, and other issues. However, it [...]
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