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JPMorgan Chase & Co, Wells Fargo & Co. and other major U.S. banks plan to boost their dividend payments after passing stress tests evaluated by the Federal Reserve.
The share buybacks signal that regulators view banks as being healthy enough to withstand the remaining uncertainties in the economy, after the banking system has been profitable for a year. Get the full story »
Federal Reserve Chairman Ben Bernanke. (Jonathan Ernst/Getty Images)
Some of the largest U.S. banks will be notified on Friday whether they passed a second round of stress tests conducted by the Federal Reserve, the Wall Street Journal reported on Thursday. Get the full story »
The Federal Reserve is sticking with its $600 billion Treasury bond-purchase program to strengthen the economy as Japan’s nuclear crisis raises worries around the globe. Get the full story »
Former Federal Reserve Bank Chairman Alan Greenspan, right, takes a question Tuesday morning about his recent publication, "Activism." (Chip Somodevilla/Getty)
Massive government intervention to save the economy is to blame for the lagging recovery, Former Federal Reserve Chairman Alan Greenspan said Tuesday..
“What we need to do now is to calm down; let things move by themselves,“ he said at a forum at the Council of Foreign Relations. “And indeed of rate of activism has decreased significantly and the ratio of capital flow has inched back up.” Get the full story »
U.S. families — by defaulting on their loans and scrimping on expenses — shouldered a smaller debt burden in 2010 than at any point in the previous six years, putting them in position to start spending more.
Total U.S. household debt, including mortgages and credit cards, fell for the second straight year in 2010 to $13.4 trillion, the Federal Reserve reported Thursday. That came to 116 percent of disposable income, down from a peak debt burden of 130 percent in 2007, and the lowest level since the fourth quarter of 2004. Get the full story »
The U.S. economy still needs the Federal Reserve’s super-easy monetary policy, a top official said on Thursday, but the recovery may be strong enough June that the central bank will not need to extend its current $600 billion bond-buying program. Get the full story »
U.S. industrial output unexpectedly fell in January as a return to normal winter temperatures caused a sharp fall in utility output, while production from mines also fell, a Federal Reserve report showed on Wednesday.
Industrial production fell 0.1 percent in January after an upwardly revised 1.2 percent jump in December, which had been driven by unseasonably cold weather that spiked heating demand. Get the full story »
The Federal Reserve is turning over a record $78.4 billion to the U.S. Treasury Department after its swollen securities portfolios generated big profits in 2010, the central bank said on Monday. Get the full story »
The sluggish U.S. economy shows signs of gaining strength but still needs a lot of help from the Federal Reserve to get back on track, a top Fed policy maker said on Friday. Get the full story »
Federal Reserve officials in December felt the U.S. economic recovery was still weak enough to warrant monetary support despite growing signs of strength, Fed meeting minutes released on Tuesday showed.
Wall Street economists have been revising up forecasts for economic growth in recent weeks on the back of signs showing business activity and consumer spending picking up steam. Get the full story »
The nomination of Nobel prize-winning economist Peter Diamond to the Federal Reserve’s Board was scuttled on Wednesday when the Senate failed to vote on it before adjourning for the year. Get the full story »
The Federal Reserve does not believe any one hedge fund can topple the financial system and therefore the private pools of capital may escape direct supervision by the central bank, an industry source familiar with the Fed’s position said. Get the full story »
U.S. factory output grew for the fifth straight month in November, adding to evidence that manufacturing remains an engine of growth.
The Federal Reserve said Wednesday that output by the nation’s factories, utilities and mines increased 0.4 percent last month, after falling 0.2 percent in October. Get the full story »
Federal Reserve Chairman Ben Bernanke will likely face more pressure from some of his own colleagues next year to scale back the Fed’s $600 billion bond-buying program to rev up the economy.
Two regional Fed bank presidents known to be especially vigilant about the risk of price increases will become voting members of the Fed’s main policymaking group, the Federal Open Market Committee. Get the full story »
