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Breaking: Dollar hits 15-year low against Yen
VIA AP 8:13 AM ET: The U.S. dollar slid to a 15-year low against the yen Wednesday, dragged down by the anemic recovery in the world’s biggest economy. The greenback was quoted at 84.71 yen in London, the lowest since 1995. Investors stepped up selling of dollars after the Federal…
Bernanke footnote: Fed wants end to ‘minimum reserve requirements’
In the footnotes of a speech U.S. Federal Reserve Bank Chairman Ben Bernanke would have given to the House Financial Services Committee on Feb. 10, lies a unique and startling disclosure. Hosted on the Federal Reserve’s own servers, the written testimony of the bank’s chairman explains in plain text what…
Federal Reserve to face fierce policy debate
The US Federal Reserve’s policy makers are expected to maintain benchmark interest rates at virtually zero percent at their meeting this week amid intense debate on how soon the central bank should tighten monetary policy. More than a year after the central bank slashed the federal funds rate to an…
Fed chairman Bernanke faces growing opposition to bid for second term
President Barack Obama’s administration is scrambling to save the nomination of Federal Reserve chairman Ben Bernanke as more opposition emerges from members of the president’s own party. Two Senate Democrats announced they would vote against Bernanke’s bid for a second term on Friday, underscoring a major populist shift in the…
House panel asks Paulson to testify in AIG probe
WASHINGTON (Reuters) - A House panel slated to look into the collapse and bailout of insurer American International Group has widened its probe, adding former Treasury Secretary Henry Paulson to its list of invited witnesses.…
House committee wants Geithner testimony over AIG bailout scandal
The chairman of the House oversight committee has questions about the $182 billion in bailouts given to American International Group and he’s ready to call in the U.S. Treasury secretary to get some answers. At least one television host is suggesting the New York Federal Reserve’s involvement in the bailout…
Geithner’s Fed tried to keep sweet deal for banks a secret: Issa
The controversy surrounding Treasury Secretary Tim Geithner’s role in the 2008 Wall Street bailouts was ramped up Thursday with the revelation of emails that show the New York Federal Reserve — then run by Geithner — pressured insurance giant AIG to withhold information about payments the company made to its…
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