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Federal Reserve confirms its computers were hacked
The Federal Reserve acknowledged Wednesday its computer systems were accessed by hackers but said the incident did not affect the central bank’s “critical operations.” The acknowledgement came days after the hacker group known as Anonymous claimed it had posted personal information of some 4,000 bankers, purportedly obtained from the Fed.…
Terror suspect in custody for alleged plot to attack the Federal Reserve in NYC
Federal authorities have arrested a man in a sting operation who they say was planning a terrorist attack on the Federal Reserve building in Lower Manhattan, mere blocks from the site of the former World Trade Center. According to New York’s NBC Channel 4, the Jamaica, Queens man was arrested…
Fed’s bond-buying plan sparks strong financial rally
WASHINGTON — US stocks soared Thursday after the Federal Reserve announced a new “QE3″ bond-buying program focused on boosting jobs and pulling the housing market back to life. After trading flat before the Fed’s announcement, the Dow Jones Industrial Average ended up 206.51 points (1.55 percent) at 13,539.86. The S&P…
U.S. adds just 96,000 jobs in August, unemployment falls to 8.1 percent
The US economy added a poor 96,000 jobs in August, but the overall jobless rate fell to 8.1 percent from 8.3 percent, the Labor Department said Friday. The lower than expected job creation numbers are likely to feed into the Federal Reserve’s debate on embarking on new actions to help…
Federal Reserve sees tepid economy ahead of rate meeting
WASHINGTON — The US economy continued to grow at a tepid pace during the last two months, amid slight improvements in retail sales and the depressed housing market, the Federal Reserve said in a report Wednesday. “Economic activity continued to expand gradually in July and early August across most regions…
U.S. Federal Reserve official urges central bank to act on unemployment
Fed members increasingly concerned about economic recovery ahead of next jobs report and September policy meeting The Federal Reserve needs to take action now to bring down the jobless rate, a top Fed official said on Monday. Charles Evans, president of the Chicago Federal Reserve, said the central bank should…
Fed expected to hold fire despite weak U.S. growth
WASHINGTON — The Federal Reserve’s top policy makers are expected to shy away from taking new economic stimulus measures when they meet Tuesday and Wednesday, instead waiting until the economic picture becomes clearer. The interest rate-setting Federal Open Market Committee will gather for a two-day meeting in Washington under the…
Gloomy Fed pulls trigger on more economic stimulus
WASHINGTON — The Federal Reserve unleashed a fresh wave of economic stimulus Wednesday as it predicted subpar US growth would be even worse this year than thought. After a two-day meeting the Fed doubled down on a program to lower long-term borrowing costs, as it sharply revised down 2012 growth…
Sen. Sanders blasts conflicts of interest at the Federal Reserve
Sen. Bernie Sanders on Wednesday explained the importance of ending conflicts of interest at the Federal Reserve. Jamie Dimon, the CEO and chairman of JPMorgan Chase, serves on the New York Fed’s board of directors. The Fed supervises the financial sector and decides whether to provide bank holding companies with…
Fed sees sharp U.S. budget cuts as ‘sizable risk’
WASHINGTON — The Federal Reserve sees a quick, sharp tightening of US spending as a “sizable risk” to the economy, minutes from a recent top-level policy meeting revealed Wednesday. “Several” members of the Fed’s interest rate-setting panel have expressed fears that uncertainty about dramatic budget cuts could curb business hiring…
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