Thursday, November 29, 2012
By Daniel P. Tucker : Associate Producer, WNYC News
The Federal Reserve Bank of New York said the New York-New Jersey regional economy will recover from Sandy by early 2013, but places like the Rockaways, Long Beach and parts of the Jersey Shore will need months and months more to bounce back.
Monday, September 10, 2012
Friday's growth report was disappointing, and the economy is growing at a snail's pace. Is this growth slow enough to justify another round of 'quantitative easing'?
Wednesday, August 01, 2012
The financial recovery is happening very, very gradually, and the Federal Reserve's policy-making committee predicted in June that without any changes in the organization’s behavior, unemployment would decrease by only a small margin in the second half of the year if, in fact, it decreases at all.
Friday, July 27, 2012
The American economy is slowing down.
GDP grew at a 1.5 percent rate in the second quarter, down from 1.9 percent in the first quarter, and anticipation is growing over what the Federal Reserve's policy-making committee will decide when it meets next week.
Wednesday, July 25, 2012
By an overwhelming bipartisan vote of 327 – 98, the House of Representatives approved Ron Paul’s “Audit the Fed” bill Wednesday afternoon.
Tuesday, June 12, 2012
Are you better off than you were ten years ago? According to a recent survey from the Federal Reserve, only one group is: the wealthiest 10 percent.
Monday, January 23, 2012
This week, President Obama delivers the State of the Union, then travels to five states that promise to be key battlegrounds for this year's election: Iowa, Arizona, Nevada, Colorado and Michigan. As the President begins his swing state tour, Republican candidates will be setting up camp in Florida, preparing for two debates in the next primary state.
Thursday, December 01, 2011
In an effort to help alleviate the symptoms of Europe's debt crisis, the Federal Reserve, the European Central Bank, and other international banks funneled U.S. dollars into European financial systems on Wednesday. The move helped markets by making American dollars more easily available outside the U.S. Stocks shot up in reaction to the news. The increased liquidity had the immediate effect of boosting the Dow Jones industrial average by 484 points. It was the biggest single day gain since March 2009. Some wondered, however, whether the move was a smart long-term investment, or just a temporary fix.
Wednesday, November 30, 2011
Bloomberg News reports what the Federal Reserve wouldn't: that the United States' central bank committed $7.77 trillion to bailing out the financial industry in the wake of the 2008 crisis, netting banks $13 billion in profits in the process.
The Fed's bailout package was more than ten times ...
Monday, October 31, 2011
The markets responded positively to the news last week of a euro zone deal to try and turn around their two-year financial crisis. Marcus Mabry, editor-at-large of the International Herald Tribune, which is the international edition of The New York Times, tells us how he expects the markets to continue to go this week and to be on the lookout at Italy, which could be the next euro zone country to be in financial trouble. Charlie Herman, business and economics editor for WNYC and The Takeaway, looks at the upcoming G20 Summit in France this week, and if they can come up with a framework to deal with Europe's economic troubles.
Tuesday, October 18, 2011
Thursday, September 22, 2011
European and Asian markets are being hammered this morning as markets react to the Federal Reserve's warning about the weak state of the U.S. economy, and fears of another recession in the euro zone. On Wednesday, the Fed predicted the U.S. economy was still years away from a full recovery, and announced it would buy long-term Treasury bonds and sell short-term bonds to stimulate lending. Andrew Walker, economics correspondent for the BBC, has the latest.
Monday, September 19, 2011
This week, Ben Bernanke and the Federal Reserve will hold a rare two-day meeting to decide on interest rates, which are currently close to zero. Meanwhile, President Obama will release details of his deficit reduction plan this morning, and one key component is taxing the wealthy, which has many Republicans screaming "class warfare." The Clinton Global Initiative annual meeting begins tomorrow, and the primary topic of discussion will be jobs, as unemployment and poverty prove to be an ever-increasing global problem. Later in the week, the Palestinian Authority will ask the United Nations Security Council for full membership, which the U.S. has already said they will veto.
Monday, September 12, 2011
President Barack Obama continues his jobs tour this week, with stops in Columbus, Ohio and Raleigh-Durham, N.C., rallying support for his jobs plan. Federal Reserve Chairman Ben Bernanke is expected to speak at a conference on regulation of systemic risk on Thursday, five days before the Federal Open Market Committee begins its meetings next week. Tonight, is the first Tea Party debate, which GOP presidential hopefuls Michele Bachmann, Mitt Romney and Rick Perry are expected to attend. And Anthony Weiner's old Congressional seat in New York's ninth district is up for grabs in a special election tomorrow.
Monday, September 05, 2011
It's Monday, so we're discussing news ahead for the week. Next Sunday will be ten years since the 9/11 attacks. This will be a week of reflection — not just for Americans but for everyone around the world. As we remember 9/11, many Americans are still without jobs and struggling to make ends meet. Charlie Herman, business and economics editor for WNYC and The Takeaway, says not to expect anything game-changing from Federal Reserve Chairman Ben Bernanke's speech this Thursday in Minnesota on the economic outlook. His speech will be followed by President Barack Obama's jobs speech. And across the Atlantic, Dominique Strauss-Kahn returned to France over the weekend, and the hunt for Col. Muammar Gadhafi continues in Libya.
Friday, August 26, 2011
Many eyes are on Jackson Hole, Wyoming today, as the markets wait on remarks from Federal Reserve Chairman Ben Bernanke. It was at last year's Fed Symposium that Bernanke laid the groundwork for the Fed to buy $600 billion in treasury bonds to stimulate the deflating economy. Many are hoping that this year, the Fed will unveil another economy-boosting plan. Conferences like the Fed retreat at Jackson Hole or Davos weren't always considered backdrops for major policy announcements. When did this change? And why?