The $12 billion US government debt may force Congress to engage in a brawl with the President that could see the government shut down. It could also lead the Obama administration to produce the toughest Budget in a decade, with massive spending cuts.
US Federal Reserve
US Fed bosses: record-low rates to stay for a while
In the US, four Federal Reserve board members have tried to explain to Americans that while the economy is definitely recovering, it’s not really doing so in the conventional sense.
Is the US Fed about to get neutered?
US Democrat senators are looking to overhaul the country’s financial system, stripping the Federal Reserve of its supervisory powers and creating three new agencies to protect consumers and police banks. You can read the whole proposed Bill here.
Political economy: US Fed says we’re saved
The US Fed says economic activity has picked up… but household spending is sluggish, interest rates will remain the same, and the economy is still shedding jobs. No surprises here, says Henry Thornton.
Fed’s Thursday statement the key to US concerns
Forrget China, South Korea, and even Japan: when it comes to confidence in the global financial system, the world remains firmly coupled to the US.
New rules for bailed-out bankers revealed
The US Treasury and Federal Reserve have announced their new rules on executive pay at big and bailed-out banks: many will have their salaries capped at $500,000, total compensation will be cut by 50%, and cash guarantees will be restructured as stock.
The invisible hand of power: how the Federal Reserve keeps economists silent
The US Federal Reserve’s network of influential and powerful scholars, economists and consultants has the country’s economists too scared to make any real criticisms of the central bank, a Huffington Post investigation has found.
The Dyer index: of Feds, markets, moods and oil
So the US economy is levelling out, according to the US Federal Reserve, and that justifies a 50% plus surge in stockmarkets? Let’s crunch the numbers.
Bernanke’s hidden warning on US economy
Early reports on Fed chairman Ben Bernanke’s speech overnight ignored his warnings over continued sluggish growth in the recession-hit US.
From the desk of Ben Bernanke…
Currently in DC testifying before Congress, US Fed chief Ben Bernanke took some time out to pen an overview of his thoughts for the WSJ, outlining his plan for an exit strategy from the stimulus package.
US Fed keeps its powder dry
It will only be when Reserves Balances visibly start to get back to something resembling 2007/08 levels, that we will know that any talk of “credit thawing” is for real, writes Julian Gillespie.
Wall St giddy on the fumes of recovery
Wall Street had its best session for months overnight, but trouble may still lie ahead, writes Glenn Dyer.
Does Bernanke deserve a second term?
Ben Bernanke’s stint as Federal Reserve chairman has been checkered at best, says Desmond Lachman — surely there are better candidates out there?
Who will bail out Bernanke?
The vultures are circling for US Federal Reserve chief Ben Bernanke.
Crikey Says: The Fed’s challenging money mountain
Looking ahead on the global economy: the ship has steadied, but rocky shoals lay ahead… or perhaps jagged mountain peaks.
What China’s economy can learn from the US
While America’s public finances are troubling, Beijing and the rest of the world should examine the future for economies, including China’s, that have become overwhelmingly dependent on exports.
Will Bernanke bugger up the recovery?
Ben Bernanke has been raising public fears about future US budget deficits, says Jeff Madrick. If he backs his ideology with actions, the economy could suffer.
Bernanke warns against big spending — take note Kev
Ben Bernanke laid out the challenge for the Congress: cut the debt and cut spending and do it quickly.
Citi off the Dow as Fed lays down the law
Citigroup was exiled from the Dow Jones industrial average overnight as the US Federal Reserve laid down the law to 19 US banking groups with Government capital injections.
This pie chart could solve the GFC
While the politicians quibble over bailout packages, the real heroes of the GFC could be those dour dudes at the Fed. Here’s a pie chart that puts into perspective the size their involvement.
Fed fallout to spread far and wide
The US Federal Reserve’s forecasts send a grim message: not only will American unemployment be higher for longer, but so will jobless levels in other economies.
Geithner gets cushy in the bankers’ club
US Treasury Secretary Timothy Geithner’s audacity in sidling up to the investment bankers responsible for the financial crisis is galling.
Bank DeathWatch: two more US banks add to toll
America is now heading for its worst year for bank failure since 1993.
Don’t panic! US Fed tells flailing economy
A surprise speech overnight from the US Fed used words like “recession”, “depression” and “panic” at will, writes Glenn Dyer.
