Dartmouth College Professor Andrew Levin, former advisor to Janet Yellen made a proposal to reform the Fed. He also suggest the Fed to be reviewed by GAO annually.
MetLife has won a legal battle against US regulators over systemically important' financial institution (SIFI) status. A Washington court has rejected Financial Stability Oversight Counsil's (FSOC) attempt to classify MetLife as SIFI.
Wall Street hits the record high in 2016. The market reacted positively after the Fed chairwoman's speech in the Economic Club Of New York on Tuesday.
U.S. stocks swung on Tuesday ahead of Fed statement. While Morgan Stanley and JPMorgan warned that similar to Europe and Japan, stimulus program may not be effective to stimulate growth.
U.S. jobs rate shows highest employment rate in seven years and dollar stays at seven month high. While Japanese and Chinese shares up, Asian stock markets were mixed as condition supports the case for Feds rate hike in December.
There are mixed opinions coming from the US Central Bank in the past few weeks, but the Federal Reserve policymakers aren't really as divided as they seem as they work under the same framework in determining when to increase interest rates.
Most financial markets in Asia ended the week higher after the US Federal Reserve decided to keep interest rates unchanged. China's Shanghai Composite Index was up 0.4% Friday. Despite that, the bourse was still down 3.2% for the week as investors worried over the Fed decision as well as weakness in economic data.
There may be a big drop in unemployment rate, but U.S. still fails to calm markets with the big possibility that the Federal Reserve will increase interest rates. According to Telegraph UK, U.S. unemployment rate dropped to a seven-year-low last month. According to data from the US Labor Department, unemployment rate went down 5.1pc in August, the lowest it has been since April 2008. This is also a level that the Fed considers to indicate "full employment."
Former U.S. Treasury Secretary Larry Summers claims that the aggressive sell-off on the global markets can lead to "a very serious situation" and raising interest rates could be a big mistake.
U.S. stocks closed broadly higher on Friday, with major indexes ending up more than 1 percent on hopes Greece would be able to secure fresh funding at an upcoming meeting, which would allow it to avert bankruptcy and remain in the euro zone.
A September interest rate hike is "very much in play" if the U.S. economy continues to strengthen, though the Federal Reserve could also wait until December to start tightening policy, an influential Fed official said in a newspaper interview.
Federal Reserve Chair Janet Yellen met with top executives from GE Capital (GE.N) prior to the company's move to shed financial assets, and she met with a top Democrat who opposes legislation aimed at Fed reform, her April calendar shows.
Now that International Monetary Fund head Christine Lagarde has told the Fed to wait to raise interest rates, the IMF staff has followed up with suggestions that the U.S. central bank remake its communications policy and, in a phrase, ditch the dots.
Bond yields and the dollar fell on Thursday after the Federal Reserve signaled that U.S. interest rates would rise more slowly than markets had expected, while Greece's drift closer to default pushed European stocks lower.
The U.S. economy is growing moderately after a winter swoon and likely strong enough to support an interest rate increase by the end of the year, but concerns remain over the recovery of the labor market, U.S. Federal Reserve officials said on Wednesday.
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