Tomrrow, starting at 10 AM ET, Fed Chairman Ben Bernanke will report to the Senate Banking Committee: The Semiannual Monetary Policy Report to the Congress David Wessel at the WSJ has a preview: The View From Bernanke’s Perch at the Fed Neil Irwin at the WaPo has some comments: Why Wall Street doesn’t understand the Fed Bernanke will very likely tell the Senate Banking Committee on Wednesday that cutting [interest on excess reserves] is one of a handful of options that the Fed is evaluating should the economic recovery continue to stumble. The others … are strengthening its promise to keep interest rates low for an extended period and buying enough mortgage securities to replace those that mature
Posts Tagged economic
From the Financial Times: Spain to reveal bank ‘stress tests’ results “The Bank intends to make public the results of these stress tests, showing estimated loan losses, the consequent capital requirements and the contribution of promised balance sheet reinforcements, so that the markets have a perfect understanding of the circumstances of the Spanish banking system,” [Miguel Angel Fernández Ordóñez, governor of the Bank of Spain, said on Wednesday]. excerpt with permission And from the Financial Times: Berlin agrees to release stress test results The German government has dropped its resistance to publishing the results of bank stress tests ..
The Organization for Economic Cooperation and Development upgraded its outlook for worldwide economic growth. The agency said “Gross domestic product (GDP) across OECD countries is projected to rise by 2.7% this year and by 2.8% in 2011
From Nick Timiraos at the WSJ: U.S. Role in Mortgage Market Grows Even Larger Government-related entities backed 96.5% of all home loans during the first quarter, up from 90% in 2009, according to Inside Mortgage Finance
From Christina Romer, Chairman Council of Economic Advisers: Back to a Better Normal: Unemployment and Growth in the Wake of the Great Recession My first and most fundamental point is that when it comes to the economy we are very far from normal.
By John Tamny of Forbes It’s very difficult to pick up any kind of financial publication these days without reading about China’s growing economy, and what this means for the economic health of the United States. While an enhanced division of labor has traditionally been viewed as bullish for all who participate in what is a [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Like GM and Toyota (TM) before it, VW aims to be the largest car company in the world within a few years and plans to have a huge lead over its competition. In the meantime, VW said that in the fourth quarter of 2009 net income dropped 73% from the year-earlier period to 257 million euros ($350.4 million). [[ This is a content summary only
When you trace the roots of the record-busting foreclosure rate and the havoc that has wrought on the American economy over the last few years, San Francisco’s mailboxes probably don’t come to mind as a logical starting point. But they should.
John Tamny of Forbes A popular belief among the economic commentariat today is that the mere existence of the Federal Deposit Insurance Corp. represents “moral hazard.” With bank deposits insured, the common thought is that bank executives feel more comfortable taking massive risks because their losses will be covered by the taxpayer. Well, if we ignore that [[ This is a content summary only.
EU economic inspectors and IMF officials have been in Greece to review the economic carnage. What they found was at the horrible end of a scale that ranges from good news to bad.
