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NEWS
April 26, 2006
Janet Yellen, president of the Federal Reserve Bank of San Francisco. "We are now operating in the vicinity of full employment. The market for skilled workers does appear to have tightened noticeably, with some upward wage pressure emerging in some sectors."
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NEWS
January 2, 2014
By most statistical measures, 2013 will be remembered as a respectable but not great year for the U.S. economic recovery. The gross domestic product grew by about 2.5 percent, which was slightly better than the nation has seen since the end of the Great Recession, and the number of jobs grew by about 200,000 a month. But you wouldn't know that on Wall Street, which just wrapped up a year that was anything but average. By any standard, it was a monster year for stocks, one of the best of all time and a surprise to all the investment doomsayers.
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NEWS
By Eileen Ambrose, The Baltimore Sun | August 25, 2013
Federal Reserve Chairman Ben Bernanke plans to step down when his term expires at the end of January - if not sooner - and President Barack Obama is expected to nominate a successor this fall. Right now, the front-runners appear to be former Treasury Secretary Lawrence Summers, an economic adviser to the president during his first term; and Fed Vice Chair Janet Yellen, No. 2 at the Fed but without close ties to the president. Some dark horses have emerged. Obama, for example, floated the name of Donald Kohn, Yellen's predecessor at the Fed before his retirement in 2010.
NEWS
By Eileen Ambrose, The Baltimore Sun | August 25, 2013
Federal Reserve Chairman Ben Bernanke plans to step down when his term expires at the end of January - if not sooner - and President Barack Obama is expected to nominate a successor this fall. Right now, the front-runners appear to be former Treasury Secretary Lawrence Summers, an economic adviser to the president during his first term; and Fed Vice Chair Janet Yellen, No. 2 at the Fed but without close ties to the president. Some dark horses have emerged. Obama, for example, floated the name of Donald Kohn, Yellen's predecessor at the Fed before his retirement in 2010.
NEWS
By The Washington Post | March 13, 2010
With the expected appointment of Janet Yellen to be vice chairman of the Federal Reserve, President Barack Obama would be installing in the central bank's No. 2 spot a close ally of Fed Chairman Ben Bernanke and an economist who views supporting growth as the most immediate challenge ahead. Yellen, currently president of the Federal Reserve Bank of San Francisco, is one of three people under consideration at the White House for appointment to the Fed Board of Governors. Sarah Bloom Raskin, the Maryland commissioner of financial regulation, and Peter Diamond, an economist at the Massachusetts Institute of Technology, are leading candidates for two vacant positions, sources said.
NEWS
January 2, 2014
By most statistical measures, 2013 will be remembered as a respectable but not great year for the U.S. economic recovery. The gross domestic product grew by about 2.5 percent, which was slightly better than the nation has seen since the end of the Great Recession, and the number of jobs grew by about 200,000 a month. But you wouldn't know that on Wall Street, which just wrapped up a year that was anything but average. By any standard, it was a monster year for stocks, one of the best of all time and a surprise to all the investment doomsayers.
NEWS
June 2, 2014
Commentator Peter Morici thinks Federal Reserve Chairwoman Janet Yellen is out of touch with inflation and what ought to be done about it (" Yellen: It's later than you think May 27). He himself, however, seems a bit out of touch with reality when he tosses off a comment like "milk [is] expensive and steak [is] a special occasion luxury rather than a weekly staple on the family menu. " I don't know about his weekly staples, but I indulge in steak only about twice a year. Maybe Mr. Morici should investigate what families - middle-class or otherwise - actually do call "staples" before he makes such sweeping statements.
NEWS
By Michael Dresser, The Baltimore Sun | July 31, 2013
President Barack Obama has appointed Sarah Bloom Raskin, a former top Maryland financial regulator, as deputy secretary of the U.S. Treasury Department, the White House announced late Wednesday. Raskin, 52, has served as a governor of the Federal Reserve since 2010. Previously she was appointed by Gov. Martin O'Malley as commissioner of financial regulation in 2007. If confirmed by the Senate, she would replace Deputy Secretary Neal Wolin, who has served since 2009. The Financial Times website reported that Raskin, a resident of Takoma Park, would become the highest-ranking woman ever to serve in the Treasury Department.
BUSINESS
By BLOOMBERG BUSINESS NEWS | January 11, 1997
WASHINGTON -- Federal Reserve Governor Lawrence Lindsey yesterday said he will resign next month, creating a second vacancy for President Clinton to fill on the U.S. central bank's board.Lindsey, 42, a Bush administration appointee, will resign Feb. 5 to join the American Enterprise Institute, a Washington think tank known for its advocacy of conservative policy positions.Lindsey will be the resident scholar and the first to hold the Arthur F. Burns Chair in Economics, named for the former Fed chairman, AEI President Christopher DeMuth said.
BUSINESS
By BLOOMBERG NEWS | June 17, 1998
WASHINGTON -- Federal Reserve Board Chairman Alan Greenspan said yesterday that the recent wave of industrial and financial-services mergers isn't likely to decrease competition. Still, mergers could create corporate bureaucracies so large that shareholders' returns are hurt, he said.Bank mergers "have led to a substantial rise in national concentration measures [but] they have little or no evident impact on average concentration measured at the more relevant local market level."Greenspan and top Clinton administration antitrust officials gave at times contrasting views on the merger wave at a hearing before the Senate Judiciary Committee.
NEWS
By The Washington Post | March 13, 2010
With the expected appointment of Janet Yellen to be vice chairman of the Federal Reserve, President Barack Obama would be installing in the central bank's No. 2 spot a close ally of Fed Chairman Ben Bernanke and an economist who views supporting growth as the most immediate challenge ahead. Yellen, currently president of the Federal Reserve Bank of San Francisco, is one of three people under consideration at the White House for appointment to the Fed Board of Governors. Sarah Bloom Raskin, the Maryland commissioner of financial regulation, and Peter Diamond, an economist at the Massachusetts Institute of Technology, are leading candidates for two vacant positions, sources said.
NEWS
April 26, 2006
Janet Yellen, president of the Federal Reserve Bank of San Francisco. "We are now operating in the vicinity of full employment. The market for skilled workers does appear to have tightened noticeably, with some upward wage pressure emerging in some sectors."
NEWS
August 18, 1994
Sen. Paul S. Sarbanes reacted predictably -- i.e. negatively -- to the latest increase in short-term interest rates ordered by a unanimous Federal Reserve Board acting, for the first time, with two Clinton appointees aboard. "I think it's bad for the economy," the Maryland Democrat declared, "and if it's bad for the economy it's bad for elected officials." Mr. Sarbanes is a three-term-senator seeking a fourth six-year term in November.Of course, the senator is right. No "elected official," especially one involved in a political campaign, is going to go around stumping for higher interest rates.
BUSINESS
By BLOOMBERG NEWS | September 12, 1997
WASHINGTON -- The U.S. trade deficit in goods, services, and investments narrowed to $39.030 billion in the second quarter as export demand strengthened, government figures showed yesterday.The so-called current account balance is the broadest measure of international trade. The second-quarter deficit is down from the first quarter, for which the U.S. posted a deficit of $39.972 billion, initially reported as $40.966 billion.A decline in the trade deficit in goods and services more than offset an increase in net capital flows abroad, Commerce Department analysts said, leading to the narrower second-quarter current account deficit.
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