All Posts Tagged Tag: ‘Federal Reserve’

Elizabeth Warren Calls For Probe Into The Federal Reserve Bank of New York

Elizabeth Warren, United States senator from Massachusetts, has called for an investigation into the relationships the Federal Reserve Bank of New York has with the financial institutions it regulates. Whistler-blower Carmen Segarra gave secret tapes to “This American Life”. The program published them, and they seemed to suggested that the Fed has been far too deferential in its regulatory duties. …

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Mortgage Rates Decline; Rises Loom in Future

As the spring season rolls in and the winter doldrums roll out, people are finally exiting their homes and exploring the world once again. Luckily for those recovering from an intense winter hibernation, the economy shows positive signs for the first quarter. Job growth increased by 192,000 for the month of March, and unemployment remained at 6.7 percent. More important …

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Janet Yellen’s First Press Conference Goes Awry

Recently confirmed Federal Reserve Chair Janet Yellen held her first press conference and Federal Open Market Committee meeting on Wednesday. In general the meeting went over well, except for some confusion about the fate of the Fed’s low short-term interest rates which unfortunately spiraled into even more trouble for Yellen. Under the previous Chair, the board agreed to maintain the …

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Student Loans Spike to Top $1 Trillion

The sharp rise in the nation’s student loan debt, now upwards of $1 trillion, is most concentrated among Americans with poor credit, according to a report released by the Federal Reserve Bank of New York on Tuesday. According to the report, student rose debt rose 12 percent in 2013 to reach $1.08 trillion. Student debt remains the second largest source …

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Janet Yellen to Make First Speech as New Fed Chair

Janet Yellen, as the newly appointed Fed chair and first woman to ever hold the post, will make her first comments today before the House Financial Services Committee and then Thursday before the Senate Banking Committee. She has addressed these committees before as vice chair for three years and as a leading economist for a long time, but now she …

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U.S. GDP Increases 3.2% in 4th Quarter

Ever since the government shutdown occurred in October last year, economists and consumers alike have been worried about the future state of the United States economy. Thanks to the latest reports from the Commerce Department, however, those fears should be allayed. During the 4th quarter last year, the GDP of the US rose 3.2%. While this figure is down from …

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Janet Yellen Confirmed as Next Federal Reserve Chair

Yesterday, the Senate voted 56-26 to usher in Janet Yellen as the next Chair of the Federal Reserve. Yellen’s acceptance came as no surprise, especially seeing as she was easily approved by the Senate Banking Committee in November. Yellen is the first woman to ever head the Federal Reserve and is expected to continue the country on the path it …

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Janet Yellen Approved for Fed by Senate Committee

Thursday morning, the Senate Banking Committee approved Janet Yellen’s nomination to become the next Chair of the Federal Reserve by a 14 to 8 vote. This vote comes as no surprise to political pundits, especially seeing as Democrats hold 12 of the 22 seats on the committee and Yellen has been supported by Democrats and Republicans, alike, before the vote …

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Labor Department Reports 148,000 Jobs Added

The U.S. Labor Department finally released its September employment report Tuesday morning, having been delayed by the government’s 16-day shutdown, which began on October 1. According to the monthly overview, U.S. employers added 148,000 new job positions in September, a dismal comparison to the 185,000 jobs that were added each month last year. The most enterprising positions indicated in the …

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JP Morgan Chase and US Justice Department Cut $13 Billion Deal as America Suffers

The ongoing Kabuki theater between Big Government and Big Finance took a new turn on Saturday, when it was announced that JPMorgan Chase & Co, one of the top 10 banks in the world, has struck a preliminary $13 billion deal with the US Justice Department. The deal will quietly mothball Federal investigations into hyper-destructive mortgage loans the bank sold …

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Janet Yellen Nominated to Lead Federal Reserve

As expected, President Obama announced Wednesday that he would be nominating Fed vice chairwoman Janet Yellen to lead the Federal Reserve. She would replace retiring chairman Ben Bernanke. “For nearly 8 years, Ben has led the Fed through some of the most daunting economic challenges of our lifetime…Against the volatility of global markets, he’s been a voice of wisdom, and …

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Obama Nominates Yellen To Fed Chief Position

President Obama will nominate the Vice Chair of the Federal Reserve, Janet Yellen, to fill Ben Bernanke’s position as chairman of the nation’s central bank when Bernanke’s term ends on January 31st. The fact that Janet will be the first woman to head the organization especially in the middle of the present economic climate is being widely discussed and, in …

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