The United States and China can manage differences over Beijing’s currency policies without starting a trade war that damages both sides, U.S. Treasury Secretary Timothy Geithner said on Thursday.
“We’re not going to have a trade war. We’re not going to have currency wars,” Geithner said one day after the House of Representatives passed legislation authorizing [...]
Archive for the ‘Global Economy’ Category
China not headed for currency war- Geithner
October 1st, 2010 by Financial Writer
Tags: economic activity, economic recovery, economy recovery, financial system, Global Economy, Global Markets, IMF, loans, money
more...New U.S. financial risk council meets Friday
September 30th, 2010 by Financial Writer
A new council of U.S. regulators charged with identifying risks to the financial system holds it first meeting later on Friday with an agenda that includes risky trading and how to pick which non-bank financial institutions need special scrutiny.
The Financial Stability Oversight Council, created under the financial overhaul signed into law in July, is scheduled [...]
Tags: economic growth, economy recovery, european central bank, financial crisis, financial system, loans, stock market, us economy
Dollar slides; potential Fed easing in focus
September 29th, 2010 by Financial Writer
The dollar fell to its lowest level in eight months Wednesday, as growing expectations that the Federal Reserve will further ease monetary policy outweighed simmering problems in Ireland and other European countries.
Three Federal Reserve members have speeches planned for the day, and traders will be listening for any hints on their disposition to engage in [...]
Tags: economic, Federal Reserve, financial markets, financial system, monetary, us economy
Obama Signs Bill to Cut Taxes for Small Businesses
September 27th, 2010 by Financial Writer
President Barack Obama signed legislation that will cut taxes and provide credit help for small businesses, calling it an essential step for job growth in a slow economy.
Small businesses “have borne the greatest brunt of this recession” because of lower demand from consumers and less available credit, Obama said.
The government “can’t create jobs to replace [...]
Tags: business investment, economic recovery, financial system, money, obama administration, stock market, us economy, us treasury
Bernanke Boasts Of New Regulation Success In Speech
September 25th, 2010 by Financial Writer
Federal Reserve Chairman Ben Bernanke boasted about the improvements new regulations have provided to the old structure in a speech at Princeton University yesterday.
“First, the recent reform legislation has improved the design of the regulatory framework, closing important gaps such as the lack of oversight of the shadow banking system,” he said.
Bernanke also felt the [...]
Tags: Federal Reserve, financial crisis, financial reform, financial system, Global Economy, private bankers, us economy
Volcker: Fed Must Not Sow Seeds of Inflation
September 23rd, 2010 by Financial Writer
Paul Volcker, special adviser to President Barack Obama, said on Thursday that while the Federal Reserve’s purchases of long-term Treasuries are “understandable,” the central bank must be careful not to set the stage for future inflation.
The former Federal Reserve chairman, known for slaying inflation in the 1980s by hiking interest rates well into the double [...]
Tags: economic recovery, Federal Reserve, home sales, inflation, interest rates, mortgage market, recession, unemployment
Fed will keep eye on demand despite inflation nod
September 22nd, 2010 by Financial Writer
Even though the Federal Reserve drew a bright line under its inflation mandate at its meeting this week, officials will remain keenly focused on the strength of demand in deciding whether to ease again.
The Fed edged nearer to giving the wobbling U.S. economic recovery another shot in the arm on Tuesday by saying it stands [...]
Tags: economic growth, economic indicators, economic recovery, Federal Reserve, financial system, inflation, us central bank, us economy
AT A GLANCE: Fed Hints At Steps To Help Economy, Rates Unchanged
September 21st, 2010 by Financial Writer
THE NEWS: Members of the Federal Open Market Committee Tuesday kept key interest rates unchanged and deferred taking any new steps to boost the economic recovery, but it hinted it’s becoming uneasy about the outlook for the U.S. economy in 2011 and said it is prepared to provide additional accommodation as needed.
THE DETAILS: Fed officials [...]
Tags: Dow Jones Industrial, economic recovery, financial crisis, financial markets, interest rates, stock market, us economy
Yuan Climbs to Strongest Since 1993 After Obama Criticizes China Policies
September 20th, 2010 by Financial Writer
The yuan climbed to the strongest level since 1993 after President Barack Obama criticized China for not letting its currency strengthen.
China’s leaders haven’t done “everything they said would be done” to allow appreciation, Obama said at an hour-long town hall discussion in Washington. Yuan forwards gained for a fourth day as the dollar weakened against [...]
Tags: Chinese economy, currency market, economic growth, economy recovery, financial markets, financial system, japan's economy, us economy
Yen Falls From 15-Year High Against Dollar After Japan Sells Its Currency
September 18th, 2010 by Financial Writer
The yen tumbled from a 15-year high versus the dollar and weakened against all of the most-traded currencies after Japan intervened for the first time since 2004 to curb gains that threaten an export-led recovery.
The yen had its biggest weekly decline against the greenback since April after Finance Minister Yoshihiko Noda said on Sept. 15 [...]
Tags: bank of japan, currency market, economists, Federal Reserve, finance minister, financial system, interest rates