Federal Reserve news stories on Newser

It's Time for the Gold Standard

Evann Gastaldo — Mon, 14 May 2012 12:33:05 CDT

Call for a return to the gold standard, and “the Washington establishment goes ballistic,” writes Herman Cain in the Wall Street Journal . “Gold is kryptonite to big-spending politicians,” because a return to the gold standard would mean the government could no longer manipulate the economy, Cain argues. In order to...

We Need a Weaker Dollar

Kevin Spak — Fri, 06 Apr 2012 10:45:05 CDT

Ben Bernanke has become a popular punching bag for the right lately, with people like Ron Paul and Rick Perry trying "to bully the Fed into doing exactly the wrong thing," writes Paul Krugman in the New York Times . "The right wants the Fed to obsess over inflation," constantly warning...

Most Big Banks Pass Stress Test; 4 Fail

John Johnson — Tue, 13 Mar 2012 17:17:50 CDT

The Federal Reserve released the results of its latest round of stress tests at the nation's biggest banks, and they're generally being received as good news. Fifteen of the 19 banks passed, which is what outlets such as the Wall Street Journal and Washington Post are highlighting in the the...

Ron Paul to Bernanke: Do You Shop for Groceries?

John Johnson — Wed, 29 Feb 2012 14:29:05 CST

Ron Paul may have a presidential race to run, but he's never too busy to return to DC to do a little Fed bashing. Paul grilled Ben Bernanke today, declaring in his opening statement that "what we are witnessing today is the end stages of a grand experiment," reports the...

Fed Rule Writing Shrouded in Secrecy

Kevin Spak — Tue, 21 Feb 2012 11:27:28 CST

The Federal Reserve has been busily rewriting the rules of the financial system for years now, and it's been doing almost all of it behind closed doors. The Fed has held 47 votes on new regulations since Dodd-Frank was passed in July 2010, and only two of those were at...

Bernanke: Full Recovery Years Away

Mark Russell — Thu, 26 Jan 2012 02:03:14 CST

Don't get too excited about that pending economic rebound . The Federal Reserve's announcement it will keep interest rates super-low into 2014 is a key sign that the US economy is years away from truly recovering, reports the New York Times . Yes, the economy has picked up "moderately," said the Fed...

Fed: Don't Expect Rate Hikes Until 2014

Wed, 25 Jan 2012 12:12:10 CST

The Federal Reserve assured consumers and businesses today that they'll be able to borrow cheaply well into the future. The Fed said it's unlikely to raise its benchmark interest rate before late 2014, extending its time frame by at least a year and a half. The Fed said record-low rates...

Man Charged With Stealing $9.5M of Computer Code

Rob Quinn — Thu, 19 Jan 2012 09:44:05 CST

A Chinese computer programmer has been charged with stealing software code worth $9.5 million while working at the Federal Reserve Bank of New York. Prosecutors say Bo Zhang, a Chinese citizen who worked for a technology firm contracted to work on code at the New York Fed, copied a...

Bank of America May Pull Out of Some Areas

Kevin Spak — Fri, 13 Jan 2012 10:18:05 CST

Should we start calling it Bank of Some of America? If push comes to shove, the banking giant is prepared to pull its operations out of some parts of the country, sources tell the Wall Street Journal . The unpalatable retreat is one of several contingency plans the bank drew up...