The U.S. Federal Reserve would use cash from mortgage bonds to buy more government debt in its latest effort to halt a recent slide in the U.S. economic recovery. The planned move by the central bank signals a major policy change involving the reinvesting of about $1.3 trillion from maturing mortgage-linked debt which was incurred […]
The United States Federal Reserve is expected to announce a downgrade of the economic outlook The United States Federal Reserve will meet on Tuesday and is expected to announce a downgrade of the economic outlook while finding ways to jump-start the struggling economy. Amid a possible double-dip recession and persistently weak economic numbers in recent […]
Government-backed mortgage finance companies Fannie Mae and Freddie Mac can possibly be replaced or not be part anymore of a U.S. housing finance system because they are just too risky, Federal Reserve chairman Ben Bernanke said Friday. In a letter to Representative Marcy Kaptur, Bernanke said that firms like Freddie and Fannie pose systemic risk […]
The consumer travel rebound is being slowed down by high airfares, despite an increase in corporate travel, so says Orbitz Worldwide President and CEO Barney Hartford. In an interview with CNBC on Thursday, Hartford said, “We’re seeing a really good recovery, especially in corporate travel, but generally, the travel industry is doing a lot better.” […]
Businesses are careful about hiring due to decreased spending by American consumers. Shoppers will need to be less thrifty if the U.S. wants unemployment rates to go down and economic turnaround to be sustained. However, data released Tuesday reflected just the opposite of the needed spending spike, with Americans unwilling to increase spending even as […]
Speaking before an audience at the New York University’s Stern School of Business, U.S. Treasury Secretary Timothy Geithner talked about the government’s financial reform program. Secretary Geithner promised in Manhattan that President Obama’s administration through the treasury department will do everything to help Wall Street understand the new financial regulations which many business people are […]
China has overtaken Japan to become the world’s second largest economy, next to the United States. The economic powerhouse is set to change the global balance of power in terms of finance, political influence, and military might. Some estimates already place China ahead of Japan in total economic production, which regains their top position in […]
A record $1.47 trillion budget deficit is set to be reached by the United States — almost 10 percent of its gross domestic product. The good news is that it is $84 million short of the projected deficit set earlier by the government. However, the White House Office of Management and Budget (OMB) on […]
China’s Banking Regulatory Commission (CBRC) said that local government financing loans will not go bad, seeking to alleviate concerns about its potential risks. The commission explained that risks can be minimized through safety nets to ensure repayments, and that these loans are supported by guarantees. On a separate announcement, Finance Minister Xie Xuren also called […]
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