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Cain withdraws from Fed consideration, citing lower pay, influence

2 days ago DieselGasoil Comments Off on Cain withdraws from Fed consideration, citing lower pay, influence
(Reuters) – Herman Cain, facing resistance from his own political party as U.S. President Donald Trump’s pick to fill a seat on the Federal Reserve Board, withdrew Monday from consideration for the post, citing what he said would be a decrease in influence and pay. FILE PHOTO: Former Republican presidential hopeful Herman Cain gives the Read More

Herman Cain withdraws from consideration for Fed seat, Trump says

3 days ago DieselGasoil Comments Off on Herman Cain withdraws from consideration for Fed seat, Trump says
(Reuters) – U.S. President Donald Trump said on Monday that businessman and former presidential candidate Herman Cain withdrew from consideration for a seat on the Federal Reserve Board. FILE PHOTO: Former Republican presidential hopeful Herman Cain gives the Tea Party Express response to U.S. President Barack Obama’s State of the Union Address, at the National Read More

Financial market ‘pause party’ makes Fed rate cut less likely

4 days ago DieselGasoil Comments Off on Financial market ‘pause party’ makes Fed rate cut less likely
WASHINGTON/NEW YORK (Reuters) – Risk-taking has been the rage since the Federal Reserve quit hiking interest rates at the end of last year. U.S. stocks are back near record highs and investors are stockpiling the lowest-grade corporate bonds with only a smidgen of extra compensation for the added risk. Traders work on the floor at Read More

Would a political Fed rescue the world?

2 weeks ago DieselGasoil Comments Off on Would a political Fed rescue the world?
WASHINGTON (Reuters) – As a financial crisis spread across the globe in September of 2008, the U.S. Federal Reserve gathered in an emergency atmosphere as requests flooded in from other central banks for access to dollars. A Wall St. street sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., Read More

As Trump pressures Powell, Wall Street gives Fed a passing grade

2 weeks ago DieselGasoil Comments Off on As Trump pressures Powell, Wall Street gives Fed a passing grade
SAN FRANCISCO/WASHINGTON (Reuters) – As President Donald Trump keeps up his attacks on the Federal Reserve’s policies, Wall Street is cautiously embracing them, giving a passing grade to the Fed’s communication since its shift in January to a “patient” approach on rate hikes. FILE PHOTO: U.S. President Donald Trump looks on as Jerome Powell, his Read More

U.S. consumer watchdog says ‘all options on table’ for enforcing Wells Fargo order

2 weeks ago DieselGasoil Comments Off on U.S. consumer watchdog says ‘all options on table’ for enforcing Wells Fargo order
WASHINGTON/NEW YORK (Reuters) – The U.S. Consumer Financial Protection Bureau (CFPB) has told Congress that “all options are on the table” for enforcing a 2018 consent order against Wells Fargo, raising the prospect of potential future penalties or other sanctions against the bank. FILE PHOTO: A Wells Fargo ATM machine is shown in Los Angeles, Read More

How Wells Fargo’s regulators and employees drove out its CEO

2 weeks ago DieselGasoil Comments Off on How Wells Fargo’s regulators and employees drove out its CEO
NEW YORK/WASHINGTON (Reuters) – The day after former Wells Fargo & Co Chief Executive Tim Sloan told U.S. lawmakers he was transforming the bank’s high-pressure culture, Federal Reserve officials met privately with bank employees. FILE PHOTO: Wells Fargo CEO Tim Sloan testifies before a House Financial Services Committee hearing titled: “Holding Megabanks Accountable: An Examination Read More

Herman Cain says he faces ‘cumbersome’ vetting for Fed board seat

3 weeks ago DieselGasoil Comments Off on Herman Cain says he faces ‘cumbersome’ vetting for Fed board seat
WASHINGTON (Reuters) – Former Republican presidential candidate Herman Cain said he will face a “cumbersome” process as he is vetted for a seat on the Federal Reserve Board. FILE PHOTO: Former republican presidential candidate and Georgia business man Herman Cain speaks during the Southern Republican Leadership Conference at the College of Charleston in Charleston, South Read More

Trump urges Fed to lower U.S. interest rates

3 weeks ago DieselGasoil Comments Off on Trump urges Fed to lower U.S. interest rates
WASHINGTON/NEW YORK (Reuters) – President Donald Trump said on Friday the U.S. Federal Reserve should lower interest rates and take other unconventional measures to ease pressure on an economy that he said they slowed down. “I think they should drop rates,” Trump told reporters. “I think they really slowed us down. There’s no inflation.” The Read More

Trump picks former presidential candidate Cain for Fed board

3 weeks ago DieselGasoil Comments Off on Trump picks former presidential candidate Cain for Fed board
(Reuters) – U.S. President Donald Trump plans to nominate former pizza chain executive and Republican presidential candidate Herman Cain for a seat on the Federal Reserve Board, where he will help set interest rates for the world’s biggest economy. FILE PHOTO: Former Republican presidential candidate Herman Cain waves as he take the stage to address Read More