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Central Bank

Central Banks' "Responsible Irresponsibility"?

Mohamed A. El-Erian | Posted 11.11.2012 | Business
Mohamed A. El-Erian

Central bankers seem to be the only policymakers both willing and able to respond to many unusual challenges. Yes they are using imperfect tools. Yes the outcomes of their actions involve collateral damage and unintended consequences. But they see all this as preferable to the alternative of doing nothing.

Twilight Zone Economics

Michael Pento | Posted 10.07.2012 | Business
Michael Pento

In this upside down world of phony Keynesian Economics, doing "whatever it takes to preserve the Euro" apparently now means promising to dilute the purchasing power of the currency into oblivion.

Don't Blame Bernanke

Robert Kuttner | Posted 10.05.2012 | Politics
Robert Kuttner

If you watched any of the PBS encore broadcast of the Ken Burns documentary, The War, this past week, you have some sense of what kind of a production machine can be energized by government contracts in the face of a depressed economy. There is so much that we could spend that money on -- energy self sufficiency, infrastructure, a smart electrical grid, public transportation, better education at all levels -- all of which would not only create economic activity and jobs, but would make for a more productive economy. But nothing like this is part of the mainstream conversation. If you propose this sort of thing, you are packed off to the Museum of Un-reconstructed Keynesians. White House economists quietly admit that you are right, but you are politically radioactive (even with a Nobel Prize.)

Did Draghi Say What Investors Heard?

Raymond Ressy | Posted 10.03.2012 | Business
Raymond Ressy

Regardless of whether Draghi's recent statements were a statement of the obvious, investors seized upon the words as a way to try to force the ECB to take action.

The Fed's Next Move

Michael Pento | Posted 09.15.2012 | Business
Michael Pento

If they get their wish, watch for the gold market to explode higher in price, as the U.S. dollar sinks into the abyss.

Dimon Cutters

Michael Farr | Posted 06.14.2012 | Business
Michael Farr

No matter what anyone tells you, it stands to reason that this European crisis is significant and will be around for quite a while longer. What will markets do?

The Instant Solution to the New Depression: Debt-free Money

Scott Baker | Posted 08.04.2012 | Business
Scott Baker

Shouldn't money have some relation to actual wealth? Isn't wealth not just numbers on a screen, but something like those things and services that meet human desires, produced by labor and using the fruits of the Earth?

Deflation Isn't the Enemy

Michael Pento | Posted 07.24.2012 | Business
Michael Pento

We now have entire nations which have become insolvent. It would be very difficult to argue that having a banking crisis is better than enduring a sovereign debt crisis, especially since much of the assets banks hold is sovereign debt.

Bernanke: Fed Responded To Crisis With 'Best Of Bad Options'

AP | MARTIN CRUTSINGER | Posted 06.13.2012 | Business

WASHINGTON — Chairman Ben Bernanke said Friday that the Federal Reserve was left with few good options when it stepped in to shore up the larges...

Turning Foreclosures Into Rentals, The Federal Reserve Way

AP | Posted 04.06.2012 | Business

WASHINGTON -- The Federal Reserve has issued policy guidelines for banks turning foreclosed homes they own into rentals, a trend that could help boost...

Markets Wake Up to Central Banks' Complicated Tradeoffs

Mohamed A. El-Erian | Posted 06.05.2012 | Business
Mohamed A. El-Erian

This week's market action serves as a vivid reminder of how dependent valuations are on central bank policies. The question for markets thus boils down to whether central banks will do more; and the issues these institutions face are extremely and increasingly complex.

Bernanke: Gold Standard 'The Reverse Of What A Central Bank Would Normally Do'

Reuters | Posted 05.20.2012 | Business

WASHINGTON, March 20 (Reuters) - Federal Reserve Chairman Ben Bernanke on Tuesday took aim at proponents of the gold standard, saying that such a sy...

Zach Carter

Wall Street Speculation Drove Oil Price Spike Higher, Federal Reserve Study Finds | Zach Carter | Posted 03.21.2012 | Business

WASHINGTON -- Two economists at the St. Louis Federal Reserve have published findings that indicate that Wall Street speculation is responsible for 15...

Island Nation Downgrade To Junk

AP | Posted 05.13.2012 | Business

NICOSIA, Cyprus — International credit ratings agency Moody's downgraded euro member Cyprus to junk status Tuesday on heightened concerns over i...

Teen Allegedly Takes Mom's Car, Robs Two Bank At Drive-Through Window

Posted 02.26.2012 | Crime

This kid needs to be grounded. A 16-year-old Utah teenager, who lives in Orem, allegedly took his mother's car and robbed two banks Saturday at the...

Political Economy In a Bad Economy

Otaviano Canuto | Posted 03.26.2012 | World
Otaviano Canuto

As the world struggles to recover from the financial crisis, developing and developed countries alike depend on effective finance ministries and their associated central finance agencies (CFAs) to help deliver good fiscal outcomes.

Ben Bernanke: Federal Reserve Not 'Out Of Ammunition' Yet

AP | By MARTIN CRUTSINGER | Posted 01.25.2012 | Business

WASHINGTON -- The Federal Reserve's announcement that it is unlikely to raise its benchmark interest rate until late 2014 is simply its "best guess," ...

Swiss Central Bank Chief To Break Silence Over Insider Deals

AP | FRANK JORDANS | Posted 03.06.2012 | Business

ZURICH — The Swiss National Bank chief denied any wrongdoing Thursday and said he had no plans to resign over private currency deals that produc...

U.S. Housing Market Expected To Expand As Euro Crisis Threat Looms

Posted 12.19.2011 | Business

The U.S. housing market, once the epicenter of the global financial collapse that spawned today's European debt crisis, is on the verge of deliver...

China Slowdown Spreading To Services Sector

Posted 12.05.2011 | Business

China's services sector cooled in November to its weakest growth in three months, an HSBC purchasing managers' index showed on Monday, the latest ...

Retail Groups Sue Fed Over Debit Swipe Fee Rule

AP | EILEEN AJ CONNELLY | Posted 01.22.2012 | Business

NEW YORK — A coalition of retail groups sued the Federal Reserve on Tuesday, claiming the regulator ignored the law by setting too high a cap on...

IMF Warns China To Act Quickly To Avoid Real Estate, Other Asset Bubbles

Posted 11.15.2011 | Business

China's biggest commercial banks face systemic risks if a combination of credit, property, currency and yield curve shocks that could be withstood...

Stagflation Risk and What This Means for Stocks

Gemma Godfrey | Posted 12.19.2011 | Business
Gemma Godfrey

As the outlook for growth continues to deteriorate, whilst the price for goods and services remain stubbornly high, the risk of stagflation returns. This would be a tough scenario, where policy options tackling one of these issues would only worsen the other.

Goldman Ordered To Hire Consultant To Review Mortgage Loans

Posted 11.01.2011 | Business

NEW YORK (Lauren Tara LaCapra) - The U.S. Federal Reserve ordered Goldman Sachs Group Inc to hire a consultant to review practices of a former mor...

Banks Unlikely To Get Higher Debit Card Fee From Retailers

Posted 08.29.2011 | Business

WASHINGTON (Dave Clarke) - Banks are hoping to win at least a small reprieve from the Federal Reserve on Wednesday when the central bank releases ...