In separate speeches, Janet Yellen, president of the Federal Reserve Bank of San Francisco, and Dennis Lockhart, president of the Federal Reserve Bank of Atlanta, warned that rising unemployment could crimp consumers, restraining the recovery. Consumer spending accounts for about 70 percent of economic activity. That’s because there is no real economic recovery at all. […]
Commentary by Kevin Hasset Sept. 28 (Bloomberg) — Treasury Secretary Timothy Geithner’s appearance in Congress last week to explain how President Barack Obama would overhaul financial regulation elicited the most striking sign yet that the wheels have come off the administration’s economic-policy team. The White House had proposed, and Geithner was ready to defend, such […]
Posted by Leon H. Wolf Via USA Today, TARP IG Neil Barofsky has some harsh words for the way the TARP funds have been handled: A Treasury Department watchdog is warning that a key $700 billion bailout program has damaged the government’s credibility, won’t earn taxpayers all their money back and has done little to […]
By: Chris Wessling Author Peter Schweizer says as a young lawyer in Chicago, Barack Obama played an important role in shifting the balance of power away from free-market forces – actions that continue to reverberate today. “A lot of people are familiar with Barack Obama as a community activist, but people don’t realize that he […]
The dollar’s position as the world’s leading reserve currency faces increased pressure as the financial crisis allows emerging economies greater influence on the world stage, analysts said. A report last week in The Independent claiming that China, Russia and Gulf States are among nations prepared to ditch the dollar for oil trades has heightened the […]
