April's U.S. job growth surprises

May 3, 2014

April's U.S. job growth surprises

U.S. employers hired workers at the fastest clip in more than two years in April, pointing to a rebound in economic growth after a dreadful winter and keeping the Federal Reserve on track to end bond purchases this year. The brightening outlook was, however, ...

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 ...