Investor's Business Daily - The Senate confirmed Elizabeth Duke to join the Fed's 7-member Board of Governors, more than a year after President Bush nominated her and Larry Klane to fill empty seats. Klane still hasn't been confirmed. Bush also has appointed Fed Gov. Randall Kroszner to a new term. Dems aren't moving on that either, though he can stay in office until a replacement is named. Fed Gov. Frederic Mishkin will step down at the end of Aug. -- read full article
Fri, 27 Jun 2008 22:48:12 GMT - Yahoo! News: Business
Reuters - The U.S. Federal Reserve worried
about exposing its balance sheet to credit risks when it
launched a lending facility for top bond dealers in an
emergency move in mid-March, minutes of two Fed meetings
released on Friday showed.
Reuters - As the Federal Reserve and
securities regulators neared an agreement on investment banks,
leaders of the U.S. Senate Banking Committee on Friday warned
them not to get ahead of Congress with any Wall Street reforms.
Reuters - Stocks fell on Friday, pushing the Dow
to the brink of a bear market, hounded by concerns that record
oil prices and the seemingly endless credit crisis will further
damage the economy.
AP - Wall Street pared its losses late Friday as the approaching end of the quarter had investors picking up stocks to close out their portfolios — the practice widely known as window dressing.
AFP - European stocks mostly fell on Friday as oil prices shot to record levels, but losses were less than falls on other global markets hit by soaring crude costs and a weak US economy.
AP - The millions of economic stimulus payments gave a massive jolt to household finances in May, sending after-tax incomes up by the largest amount in 33 years. -- read full article
Fri, 27 Jun 2008 15:55:33 GMT - Yahoo! News: Business
Reuters - The Senate confirmed banker
Elizabeth Duke for a seat on the Federal Reserve in a surprise
move on Friday after months of political deadlock over
vacancies at the U.S. central bank's board of governors. -- read full article
Fri, 27 Jun 2008 18:09:40 GMT - Yahoo! News: Business
Reuters - The Dow Jones industrial average
(.DJI) of stocks slid on Friday into bear market territory as
investors fretted about the impact of record oil prices and
mounting credit losses in the financial sector.
Reuters - The Federal Reserve worried about
exposing its balance sheet to credit risks when it launched a
lending facility for top bond dealers in an emergency move in
mid-March, minutes of two Fed meetings released on Friday
showed.
Reuters - Stocks fell sharply on Friday, as
concerns about the impact of record oil prices on the economy
and fears of more credit losses in the bank sector rattled
investors.
Reuters - Consumer confidence fell more than
expected in June, hitting another 28-year low as surging prices
and mounting job losses contributed to a bleak outlook,
according to a survey released on Friday.
AP - New Zealand's government said Friday the economy shrank by 0.3 percent in the first quarter of 2008, but the country may just escape falling into recession if the central bank's forecast for minor second-quarter growth holds true. -- read full article
Fri, 27 Jun 2008 04:32:38 GMT - Yahoo! News: Business
