Bernanke Says QE Works While Posing No Immediate Bubble Risk

Federal Reserve Chairman Ben S. Bernanke defended quantitative easing, saying it has helped the economy and shows no immediate sign of creating a bubble in asset prices. “We don’t think that financial stability concerns should at this point detract from the need for monetary policy accommodation which we are continuing to provide,” he said today in Washingtonat a […]

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First U.S. Shutdown in 17 Years Imminent With No Talks

“Republicans and Democrats say they don’t want to close the government, though neither side is budging from their positions. House Republicans, led by Speaker John Boehner, want to delay President Barack Obama’s Affordable Care Act for a year and make other changes to the law. Democrats, led by Obama, say that won’t happen. Obama will […]

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Gross Says Investors Shouldn’t Trust Moody’s on U.S. AAA Rating

“Investors shouldn’t trust the opinion of Moody’s Investors Service on the U.S.’s Aaa rating and should rely instead on the company’s competitors, according to Pacific Investment Management Co. founder Bill Gross. Moody’s and the U.S. Treasury are one “happy family,” Gross, manager of the world’s biggest bond fund, said today in a post on Twitter. […]

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Fed Finds 18 Large Banks Weak in at Least One Capital Area

“Five years after one of the most costly financial crises in U.S. history, the 18 largest banks still fall short in at least one of five areas critical to risk management and capital planning, the Federal Reserve said. While many banking companies have improved capital planning techniques and raised capital levels, “there is still considerable […]

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