Articles About Federal Reserve

Author:
James I. Clark III
Posted:
06.23.2010

Bernanke Sets Sights on the Growing Deficit

Federal Reserve Chairman Ben Bernanke is warning that – even as the nation struggles to recover from the worst recession in 75 years – Congress must deal with an “unsustainable” level of debt.  “Our nation’s fiscal position has deteriorated appreciably since the onset of the financial crisis and the recession,” Bernanke said in testimony before […]

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Author:
James I. Clark III
Posted:
06.07.2010

Senate, House Versions of Financial Reform Bill Headed to Reconciliation

Senator Christopher Dodd (D-CT) is enjoying a big victory in his last days in the Senate following passage of broad financial reform legislation designed to rein in the excesses that caused the financial meltdown.  First, the Senate and House versions of the bill must undergo reconciliation.  Under the new law, for example, homebuyers will have […]

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Author:
James I. Clark III
Posted:
05.25.2010

Congress Will Examine the Fed’s Actions During the Financial Crisis

In a rare moment of bipartisanship, the Senate voted 96 – 0 to attach a modified version of an amendment proposed by Sen. Bernard Sanders (I-VT) to the financial regulatory bill to investigate transparency in emergency lending practices by the Federal Reserve during the financial crisis.  “This amendment begins the process of lifting the veil […]

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Author:
James I. Clark III
Posted:
05.12.2010

Is the Fed About to Hike Its Federal Fund Rates?

The recent release of minutes from the Federal Reserve’s March meeting may hint that the nation is experiencing a sustainable recovery and is possibly facing upwards inflationary pressure.  The yield on 10-year Treasury notes has already surpassed four percent for the first time since last June; oil and copper traded at their highest prices in […]

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Author:
James I. Clark III
Posted:
05.11.2010

Trouble Ahead for Community Banks

The nation’s small and medium-sized banks – those with under $10 billion in assets – could see a spate of commercial loan failures in coming years, according to a report issued by the Congressional Oversight Panel as part of its supervision of the Troubled Asset Relief Program (TARP).  The panel’s chair, Harvard law professor Elizabeth […]

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Author:
James I. Clark III
Posted:
04.29.2010

Fed Governor: U.S. Faces “Significant Economic Challenges”

The United States still faces “significant economic challenges”, with unemployment at “stubbornly” high levels and businesses that are reluctant to spend as government deficits rise.  This is the opinion of Federal Reserve Governor Kevin Warsh, who said “Taking account of the broad range of economic and financial conditions, there is no wonder that the electorate […]

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Author:
Tom Silva
Posted:
04.28.2010

Increased Worker Productivity Putting Brakes on New Hires

Worker productivity increased 3.8 percent in 2009, the best record since 2002. Writing in the Washington Post, Neil Irwin notes, “That means high-level gains in productivity – which in the long run is the key to a higher standard of living but in the short run contributes to sky-high unemployment.  So long as employers can […]

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Author:
James I. Clark III
Posted:
04.15.2010

Financial Reform Legislation Faces Uphill Battle in the Senate

Senator Christopher Dodd (D-CT), chairman of the Senate Banking Committee, introduced revised legislation to regulate the nation’s financial system.  The plan would create a nine-member council, led by the Treasury secretary, to be on the alert for systemic risks, and direct the Federal Reserve to oversee the nation’s largest and most interconnected financial institutions. The […]

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Author:
James I. Clark III
Posted:
04.08.2010

Fed Experiments With End to CMBS Purchases

The Federal Reserve is ending its purchase of mortgage-backed securities, a sign of confidence that the nation’s economic recovery is well underway.  At the same time, the Fed voted to retain its benchmark interest rate at approximately zero percent, because of remaining economic weakness and the lack of inflation.  According to the Fed, it will […]

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Author:
James I. Clark III
Posted:
03.31.2010

Volcker Rule Seeks to Regulate Financial Markets

A draft of President Barack Obama’s financial reform legislation has been sent to Congress.  Dubbed the Volcker Rule in honor of the former Federal Reserve chairman’s  aggressive pursuit of these regulations, the five-page proposal will ban proprietary trading and mergers that give banks more than a 10 percent market share as measured by liabilities that […]

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