In its latest forecast for the world’s largest economy, the US central bank, the Federal Reserve, has said economic growth will be between 2.8% and 3.5% in 2010 - better than its previous forecast of 2.5% to 3.5%. However, the Fed has warned that despite strong growth for this year, unemployment will...
Posted to
Finance
on 02-18-2010
Filed under: All Financial News, Economy News, Federal Reserve, forecast, stimulus package, unemployment, Barack Obama, warning, growth, Jobs, high, scheme
Speaking about moves that defy “all logic, morality, and sensitivity,” it was a big day for bonus announcements in the financial sector.
First up, everyone’s favorite insurance company that Washington forced them to own—American International Group (AIG). From the Associated Press this morning...
Posted to
Economics
on 02-03-2010
Filed under: Obama Administration, U.S. Government, Bailout, Financial Sector, banking industry, Financial Services, Investment Banks, Wall Street, Barack Obama, Bank of America, american international group, AIG, Wages, Goldman Sachs, retention bonuses, President Obama, banking sector, Wall Street bonuses, Insurance, insurance company, executive compensation, bankers, B of A, retention pay, Lloyd Blankfein, banker bonuses
President Barack Obama’s decision not to travel to Spain in May for a US-European Union summit does not come as a great surprise to EU policymakers. They knew weeks ago that he had gone cool on the idea. Nonetheless, it will hurt. It will be read as a signal from the White House that the president...
Posted to
Comment
on 02-02-2010
Filed under: US, Foreign policy, barack obama, Spain, EU summits, EU foreign policy, Catherine Ashton, Ashton, Van Rompuy, US-European relations, South Africa
Fifty-six-year old Ben Bernanke has won a second term as chairman of US central bank, the Federal Reserve.
The US Senate confirmed the appointment after it voted 77-23 in favour of Bernanke, whose current term ends on Sunday.
At the time of his nomination last August, US President Barack Obama said:...
Posted to
Finance
on 01-29-2010
Filed under: All Financial News, Economy News, Federal Reserve, Ben Bernanke, Barack Obama, vote, criticism, support, second term, win