Economist looking for unambiguous signs of a national economic recovery won’t it in the Federal Reserve’s latest edition of the Beige Book that was released on March 3. Though nine of 12 Fed regions showed improvements, “in most cases the increases were modest.” Continue reading The Latest Fed Beige Book Report: Just a Little Better Than Bad The Latest Fed Beige Book Report: Just a Little Better Than Bad originally appeared on DailyFinance on Wed, 03 Mar 2010 15:40:00. Filed Under: Economy Permalink | Tweet this! | Comments

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The Latest Fed Beige Book Report: Just a Little Better Than Bad

News likely to affect stock prices Friday, including discount interest rate hike by the Fed, Dell reports decrease in quarterly earnings, and Toyota president to testify before congressional hearing about massive recalls. Continue reading Stocks in the News: Banks, Dell, Huntsman Stocks in the News: Banks, Dell, Huntsman originally appeared on DailyFinance on Fri, 19 Feb 2010 07:55:00. Filed Under: Company News , Investing , JP Morgan Chase , Dell , Goldman Sachs , Bank of America , Citigroup , Toyota , Wells Fargo & Co. Permalink | Tweet this! | Comments

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Stocks in the News: Banks, Dell, Huntsman

Prior to the Federal Open Market Committee meeting in January, there was speculation about whether the Fed’s monetary-policy arm would announce a shift in the benchmark rate away from the overnight rate it charges banks, to the interest paid on bank reserves. Economists at Bank of America ( BAC ) joined the speculation that the Fed may start pointing to the rate paid on reserves as its primary monetary-policy tool . While this might seem like inside-baseball for most Americans, the change could result in higher interest rates for your business or consumers loans and especially most credit cards that are now variable and reset based on the ups and downs of the prime rate. Continue reading Why Major Change in Fed’s Interest Rate Policy Would Be Worrisome Why Major Change in Fed’s Interest Rate Policy Would Be Worrisome originally appeared on DailyFinance on Sat, 06 Feb 2010 08:00:00. Filed Under: Economy , People , Investing , Bank of America Permalink | Tweet this! | Comments

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Why Major Change in Fed’s Interest Rate Policy Would Be Worrisome

It’s a case of dueling surveys. Two polls released last week and one issued Monday set out to probe how investors view President Barack Obama’s economic policies. But they provide contradictory readings. One released by Bloomberg News says 77% of its subscribers — mostly high-income individuals in the financial services sector — think President Obama is against business and can’t manage a financial crisis. A USA Today /Gallup poll was also downbeat, finding that 34% of Americans believe it will be four or more years before the economic recovery starts. But not everyone in the Gallup survey, which reached similar findings in July, is ready to stick their heads in the oven. Continue reading Investor Sentiment Surveys About Obama Can’t All Be Right Investor Sentiment Surveys About Obama Can’t All Be Right originally appeared on DailyFinance on Mon, 25 Jan 2010 18:00:00. Filed Under: Economy , Investing , JP Morgan Chase Permalink | Tweet this! | Comments

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Investor Sentiment Surveys About Obama Can’t All Be Right

The viability of President Obama’s proposals on bank reform remains to be seen as they pass through Congress, but they send an undoubtedly sharp signal about what the next battle after health care will be. The principles are difficult to argue against, since the financial system has become increasingly concentrated in a handful of top-heavy firms, and overlap between retail banking and more complex trading activities has not been reduced. In this situation, the specter of systemic risk is held back only by the precedent of a nearly-unlimited commitment by the U.S. Treasury and Federal Reserve to prevent such a disaster. Continue reading Obama’s Bank Rhetoric Misses the Mark Obama’s Bank Rhetoric Misses the Mark originally appeared on DailyFinance on Fri, 22 Jan 2010 15:00:00. Filed Under: Economy , JP Morgan Chase , Bank of America , Citigroup , Wells Fargo & Co. Permalink | Tweet this! | Comments

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Obama’s Bank Rhetoric Misses the Mark

Federal Reserve Chairman Ben Bernanke faced mounting Senate opposition for another four-year term Friday, and the White House worked aggressively to keep his nomination afloat. President Barack Obama’s chief of staff, Rahm Emanuel, and Treasury Secretary Timothy Geithner were on the phone throughout the day to key senators to shore up support, said two senior administration officials, speaking on condition of anonymity to more freely discuss behind the scenes activity. Continue reading White House Fights for Bernanke Support in Senate White House Fights for Bernanke Support in Senate originally appeared on DailyFinance on Fri, 22 Jan 2010 19:09:00. Filed Under: Economy Permalink | Tweet this! | Comments

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White House Fights for Bernanke Support in Senate

The Federal Reserve is giving up on the fight to keep some of its bank bailout dealings secret . Federal Reserve Chairman Ben Bernanke (pictured) sent a letter to the General Accountability Office inviting the congressional auditors to conduct a “full review” of the Fed’s aid to struggling insurance giant AIG ( AIG ), according to a report from Bloomberg . Continue reading Federal Reserve No Longer To Keep Its Secrets about AIG Bailout Federal Reserve No Longer To Keep Its Secrets about AIG Bailout originally appeared on DailyFinance on Tue, 19 Jan 2010 17:15:00. Filed Under: Economy , Investing , American International Group , INC. Permalink | Tweet this! | Comments

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Federal Reserve No Longer To Keep Its Secrets about AIG Bailout

The ‘frugal consumer’ era continued in November. Outstanding U.S. consumer debt fell by a record $17.49 billion in the month, to $2.46 trillion. This marks the 10th straight monthly credit decline, the U.S. Federal Reserve announced Friday. In a Bloomberg News survey, economists had expected November consumer credit to contract by $5.5 billion. Continue reading U.S. Credit Card Debt Falls for a Record 10th Straight Month U.S. Credit Card Debt Falls for a Record 10th Straight Month originally appeared on DailyFinance on Fri, 08 Jan 2010 16:30:00. Filed Under: Economy Permalink | Tweet this! | Comments

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U.S. Credit Card Debt Falls for a Record 10th Straight Month

Federal Reserve officials who gathered last month agreed the economy appeared solidly on its way to recovery and gaining momentum, according to minutes from the Dec. 15-16 meeting , released Wednesday. Nevertheless, some members disagreed over the need for continuing and future stimulus. Continue reading Fed Governors Fretted Over Stimulus, High Unemployment Fed Governors Fretted Over Stimulus, High Unemployment originally appeared on DailyFinance on Wed, 06 Jan 2010 18:50:00. Filed Under: Economy Permalink | Tweet this! | Comments

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Fed Governors Fretted Over Stimulus, High Unemployment

This year sure was packed with stunning turnarounds: Few foresaw a soaring stock market but tumbling approval ratings for President Obama. And it may have one last twist in store for investors. Many investors saw a crumbling dollar as a sure bet in the wake of the Federal Reserve’s unprecedented liquidity injections, but over the last month the greenback has instead mounted a sharp turnaround. And while the mainstream sentiment remains negative on the currency, a high-profile minority of investors – with both more bullish and bearish economic outlooks than most — are now betting that the rally will continue into the new year. Continue reading A Resurgent Dollar Could Be 2010’s First Surprise A Resurgent Dollar Could Be 2010’s First Surprise originally appeared on DailyFinance on Wed, 30 Dec 2009 16:30:00. Permalink | Tweet this! | Comments

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A Resurgent Dollar Could Be 2010’s First Surprise