Fed meets today

Fed chief Ben Bernanke last month publicly faced one of his fiercest critics, Republican Rep. Ron Paul, who accused the central bank of a variety of misdeeds -- including some linked to Saddam Hussein’s purchase of weapons and the Watergate break-in.His next test?  Quarterly press conferences with reporters, some of whom may not know the difference between the CPI and the PPI when it comes to economic indicators.The Fed announced today that Bernanke will hold news conferences immediately after the Fed’s Open Market Committee meets to consider economic conditions and set interest rates on April 27, June 22, and Nov. 2.  Each press conference will be webcast.“The introduction of regular press briefings is intended to further enhance the clarity and timeliness of the Federal Reserve’s monetary policy communication. The Federal Reserve will continue to review its communications practices in the interest of ensuring accountability and increasing public … [Read more...] about Fed Chief Says He Will Take Press Questions Each Quarter

THE TICKER A sawyer carries a cut of machine grade steel to be shipped throughout the Pacific Northwest at the Pacific Machinery & Tool Steel Company on March 6, 2018 in Portland, Oregon (Natalie Behring/Getty Images) Business executives across the country are registering alarm about the Trump team's aggressive push on trade — even as the president's base largely embraces the moves. The Fed’s latest beige book report released Wednesday  — for which each of the nation’s 12 regional banks survey business leaders, investors and economists in their areas — included 36 mentions of tariffs. The last such survey, published in early March, included none. These widespread fears of a trade war are darkening the picture for an economy otherwise expanding at a healthy clip, and stand in stark contrast to recent polling that shows GOP voters are lining up behind Trump in his trade fight with China.  In Washington, the Trump … [Read more...] about The Finance 202: Fed report shows business execs worry about Trump’s trade moves

Christopher Ingraham, The Washington Post Published 12:52 pm PST, Thursday, March 7, 2019 Total household net worth in the fourth quarter of 2018 dropped by the largest amount since the fourth quarter of 2008 when the country was in the midst of a steep recession, according to data released today by the Federal Reserve. Total household net worth is a measure of the assets - such as homes, stocks and bank accounts - owned by American families and nonprofits minus their debts. In the fourth quarter of 2018, it fell by about $3.7 trillion, a 3.5 percent quarterly decline. Going back to 1952, the start of the Fed's data, only three quarters - the third and fourth quarters of 2008, and the second quarter of 1962 - posted bigger declines in household net worth, percentage-wise. The data show that change was driven by the poor performance of the stock market in the fourth quarter of last year. The flailing stock market erased $4.6 trillion in assets from household and … [Read more...] about Household net worth falls by largest amount since Great Recession, new Fed data show

Aug 22, 10:16 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury World By AFP News 08/22/19 AT 9:52 AM PreviousNextGlobal stock markets traded sideways Thursday as investors avoided risk on the eve of a speech by Federal Reserve head Jerome Powell, hotly anticipated for clues on the interest rate outlook.The British pound, meanwhile, gained on optimism that an orderly Brexit may yet be on the cards."Caution is the word of the day... ahead of the key speech by the Fed chairman Jerome Powell," said analyst Naeem Aslam at trading firm ThinkMarkets.Markets paid little attention to US President Donald Trump providing some fresh hope for China-US trade talks.Wall Street, which posted healthy gains Wednesday thanks to blockbuster results from retailers, started Thursday's session on a modestly firmer note.Minutes published Wednesday from the Fed's July meeting -- when it cut rates for the first time since the financial crisis -- said … [Read more...] about Stock markets play waiting game before Fed chief speech

Andrew Luger on Wednesday announced two Minneapolis police officers would not be charged with federal civil rights violations in the shooting death of Jamar Clark.Clark, a 24-year-old African-American, was shot by two white police officers last fall and his death set off a number of protests.   The officers claimed Clark resisted arrest and grabbed for one of the officer’s weapons before he was shot and killed.  Other witnesses claimed Clark was handcuffed when he was shot.Earlier this year, Hennepin County Attorney Mike Freeman announced that no state charges would be brought against the officers.  Freeman’s investigation concluded that Clark was not handcuffed at the time he was shot.  He also concluded that Clark’s DNA was located on the grip of one of the officer’s weapons, indicating that he grabbed for it.Minneapolis Mayor Betsy Hodges requested a federal investigation in the immediate aftermath of Clark’s death … [Read more...] about Feds Clear White Officers in Jamar Clark’s Death