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New York Fed fired examiner who refused to go soft on Goldman Sachs: report

A version of this story was co-published with The Washington Post. In the spring of 2012, a senior examiner with the Federal Reserve Bank of New York determined that Goldman Sachs had a problem. Under a Fed mandate, the investment banking behemoth was expected to have a company-wide policy to…

Oil drops after Fed douses stimulus hopes

World oil prices slid on Wednesday after the Federal Reservepoured cold water on hopes of more monetary stimulus, while traders awaited the latest snapshot of US crude inventories. New York’s main contract, West Texas Intermediate crude for delivery in May, dropped 66 cents to $103.35 a barrel. Brent North Sea crude for May lost 24 cents…

Fed takes wait-and-see approach on U.S. economy

A third straight month of strong US job creation is unlikely enough to budge the Federal Reserve’s policy makers from their easy-money stance when they meet Tuesday, analysts said. Even if Friday’s February jobs numbers suggest a firming of the US economy, the central bank’s leadership remains unconvinced about any…

Fed pays near-record billions to U.S. Treasury

The Federal Reserve said Tuesday it had paid $76.9 billion to theUS Treasury from its estimated 2011 earnings, mainly income from interest collected on a range of securities. The amount was only three percent below the 2010 record payment of $79.3 billion, and reflected the extraordinary actions the Fed has taken to prop up…

Durbin: Republicans are trying to manipulate the Fed

Sen. Dick Durbin (D-IL) was one of several individuals not happy with House and Senate GOP leaders sending a letter to urge Fed chairman Ben Bernanke not to provide the economy more monetary stimulus. And the Illinois politician expressed his anger Wednesday morning on MSNBC, calling Republicans’ actions “outrageous.” When…

Durbin: Republicans are trying to manipulate the Fed

Sen. Dick Durbin (D-IL) was one of several individuals not happy with House and Senate GOP leaders sending a letter to urge Fed chairman Ben Bernanke not to provide the economy more monetary stimulus. And the Illinois politician expressed his anger Wednesday morning on MSNBC, calling Republicans’ actions “outrageous.” When…

U.S. Fed set to gingerly lift foot off stimulus pedal

WASHINGTON (AFP) – The Federal Reserve appears ready to ease off the stimulus pedal that is pumping life into the US economy at a key meeting that opens Tuesday, despite signs of slowing growth. Most economists expect the Federal Open Market Committee will signal the Fed’s $600 billion asset purchase…

Obama’s Nobel-winning Fed pick withdraws, slams partisan politics

WASHINGTON/NEW YORK (Reuters) – Nobel Prize winner Peter Diamond said on Sunday he planned to withdraw as a nominee for Federal Reserve governor, after his nomination was repeatedly opposed by Republicans. “It is time for me to withdraw, as I plan to inform the White House,” Diamond, an economics professor…

Federal Reserve chief Bernanke signals end of stimulus plan

WASHINGTON – Ben Bernanke sought to cast the Federal Reserve as a dependable custodian of the US recovery in a first-ever press conference Wednesday, as the bank began to inch away from crisis-era policies. Heralding a second attempt to halt — and eventually reverse — stimulus spending that has helped…

Bernanke seen indicating no haste to tighten Fed policy

WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Wednesday will likely use his first-ever news conference on monetary policy to hammer home the case for a patient approach to withdrawing the central bank’s extensive support for theU.S. economy. Following a two-day Fed policy meeting, Bernanke will face the press in the first regularly…

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