On the eve of a Senate hearing today into whether the Federal Reserve has been “captured” by the institutions it is supposed to regulate, the Fed announced a broad review of its supervision of the largest banks
When Dr. Alan Greenspan became chairman of the Federal Reserve, he moved from the world of rhetorical economics to the world of action. His most recent memoir attempts to make sense of how the financial crisis of 2008 came to be and how we can better predict future crises, along with the role of gold in a global monetary system.
U.S. five-year note yields touched the highest in almost a month after a higher-than-forecast reading in the Institute for Supply Management’s U.S. factory index boosted the argument for an interest-rate increase.
The Treasury Department will decide in the “very near future” what actions it can take to deter U.S. companies from cutting tax bills by moving their addresses to other countries, Treasury Secretary Jacob J. Lew said today.