Retail banking giant Wells Fargo has fixed problems in its 2015 bankruptcy plan and will now be allowed to open new international branches, US banking regulators said Monday. The reprieve comes a day before a high-stakes shareholder meeting at which the bank’s board is facing a no-confidence vote. Wells Fargo has struggled to right itself … Read more
The US Federal Reserve began a two-day meeting on Tuesday, having signalled it is likely to raise the benchmark interest rate as the world’s largest economy gains steam. Any increase in the key federal funds rate would come a bit earlier than had been expected at the start of the year, with central bankers prodded … Read more
The US Federal Reserve this week is poised to raise its benchmark interest rate amid burgeoning job growth and a surge of market optimism since President Donald Trump took office. Central bankers on Friday likely got the final push they needed, if they were in any doubt, after a strong employment showing 235,000 net new … Read more
U. S. Federal Reserve Vice Chair Stanley Fischer said there was significant uncertainty about U.S. fiscal policy under the Trump administration, but the Fed would be strict in meeting targets of creating full employment and getting inflation to 2 percent. Speaking at the Warwick Economics Summit on Saturday, Fischer also said he thought Dodd-Frank financial … Read more
I recently observed how the 2016 race reflects American conditions in the late 1970s — also stagnant — and how the political elites are echoing President Jimmy Carter’s feckless reaction in his notorious July 15, 1979 address to the nation in which he said, in part: The threat is nearly invisible in ordinary ways. It … Read more
In my previous column I observed here how the 2016 race reflects American conditions in the late 1970s — also stagnant — and how the political elites are echoing President Jimmy Carter’s feckless reaction in his notorious July 15, 1979 address to the nation in which he said, in part: The threat is nearly invisible … Read more
Who will conjure the American Dream back for us? Politics is part prestidigitation, part reality. A great magician distracts her audience’s attention while producing the payoff. Abracadabra! Want to see how it’s done? Focus on the hidden hand. In this case, the United States Senate. The real issue America for American politics is how to … Read more