New Fed Chairwoman Yellen keeps policy on track

Mar 20, 2014

New Fed Chairwoman Yellen keeps policy on track

New Federal Reserve Chairwoman Janet Yellen kept the central bank firmly on the path set by predecessor Ben Bernanke on Wednesday, shrugging off recent economic weakness as largely weather-caused. But she also took a crucial step to reshape how the Fed has signaled its ...

Pressure on emerging markets persists, despite currency hikes

Jan 30, 2014

Pressure on emerging markets persists, despite currency hikes

It’s proving contagious. First it was the central bank of India. A day later, on Wednesday, its counterparts in Turkey and South Africa followed suit in raising interest rates. But any hopes they may have had in seeing their currencies stabilize appear to have ...

Jan 28, 2014

Benjamin Bernanke's triumph — and defeat

by Robert Samuelson

In the initial days of the 2008-09 financial crisis, Ben Bernanke, the outgoing U.S. Federal Reserce chairm, mobilized the Fed as the lender of last resort and, arguably, averted a second Great Depression. His efforts to kick-start the economy by keeping short-term interest rates ...

Fed tipped to keep stimulus trim despite market turbulence

Jan 28, 2014

Fed tipped to keep stimulus trim despite market turbulence

Just as Ben Bernanke prepares to turn the chairmanship of the Federal Reserve over to Janet Yellen, global markets are on edge over the prospect that she’ll extend a policy he began: a steady pullback in the Fed’s extraordinary economic stimulus. Managing a slowdown ...

Jan 7, 2014

Will the bitcoin bite the dust?

by Kevin Rafferty

Bitcoin was one of Oxford Dictionaries' runners-up for the word of the year for 2013. The virtual currency has received a partial blessing from the chairman of the U.S. Federal Reserve. But will it bite the dust because of its volatility?

How the Federal Reserve was created

Dec 23, 2013

How the Federal Reserve was created

by Neil Irwin

A century ago this week, Congress passed the Federal Reserve Act, creating a central bank for a nation that was only beginning its economic ascendance. This is the story of how it came to be, from a nearly catastrophic financial panic to secret meetings ...

Dec 19, 2013

Improving U.S. economy leads Fed to ease stimulus

The Federal Reserve has sent its strongest signal of confidence in the U.S. economy since the Great Recession, deciding that America’s economic prospects are finally bright enough to withstand a slight pullback in stimulus spending. Yet the Fed also made clear Wednesday that it ...

Fed nominee Yellen passes key Senate hurdle

Nov 22, 2013

Fed nominee Yellen passes key Senate hurdle

Janet Yellen passed a key hurdle Thursday on her way to take the helm of the U.S. Federal Reserve when she earned the endorsement of the Senate Banking Committee. President Barack Obama’s pick to replace Fed Chairman Ben Bernanke now needs the approval of ...

World economy still being propped up by extraordinary aid

Nov 12, 2013

World economy still being propped up by extraordinary aid

Five years after the global financial crisis erupted, the world’s biggest economies still need to be propped up. They’re growing and hiring a little faster and creating more jobs, but only with extraordinary aid from central banks or government spending. And economists say major ...

Federal Reserve keeps stimulus intact on shaky U.S. economic recovery

Oct 31, 2013

Federal Reserve keeps stimulus intact on shaky U.S. economic recovery

The U.S. Federal Reserve will keep its massive economic stimulus program intact, officials said Wednesday, amid concerns that the recovery remains fragile. Their statement about the economy hardly changed from September and gave little direction as to when the central bank believes it can ...