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By ELLEN GAMERMAN | September 26, 1997
WASHINGTON -- When the nation's capital was facing bankruptcy in 1995, President Clinton appointed Andrew F. Brimmer, a respected economist, to help turn around the city's government.Brimmer's stage has been the district's financial control board, a federally appointed panel with authority over everything from the budget to school lunches. Brimmer, 71, is the unpaid chairman of that five-member board, whose reach over city management was made even broader by a federal plan approved this summer.
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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | September 30, 2010
Maryland's top financial regulator is joining the board of the Federal Reserve. Sarah Bloom Raskin was confirmed as a Fed governor late Wednesday by the U.S. Senate, a move that was expected. Janet Yellen, president of the Federal Reserve Bank of San Francisco, was given the go-ahead to join the board of governors as vice chair. Raskin, the state's commissioner of financial regulation for the past three years, is resigning from that job effective Friday. Her deputy, Mark Kaufman, has been nominated for the commissioner position, a job that requires approval by the state Senate.
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NEWS
By Gilbert A. Lewthwaite and Gilbert A. Lewthwaite,Washington Bureau of The Sun | August 4, 1991
WASHINGTON -- The world's biggest banking scandal has engulfed this nation's capital, throwing the integrity of high-profile individuals and federal institutions into question.No hard evidence has yet been produced of any criminal cover-up within the Reagan or Bush administrations. But federal officials stand accused of ignoring repeated and serious allegations against the Bank of Credit and Commerce International since the early 1980s and of bowing to pressure from top-dollar Washington lobbyists.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | April 29, 2010
Sarah Bloom Raskin is deeply interested in the economy's effect on everyday life, a driving force in her work to keep Marylanders from being scammed, foreclosed on or caught up in a bank failure. That consumer focus caught White House attention. Raskin, Maryland's top financial regulator, is one of three nominated Thursday by President Barack Obama to fill empty seats on the powerful Federal Reserve Board of Governors. She would join at a fraught time for the Fed, which has been criticized for paying too little attention to consumer issues.
BUSINESS
By New York Times | April 8, 1991
Amid a rift at the Federal Reserve Board over whether lower interest rates are needed to help the nation out of recession, the central bank's policymakers have curtailed the authority of chairman Alan Greenspan to reduce rates on his own, high government officials said over the weekend.The reduced authority means, in effect, that Greenspan must now work harder to justify interest-rate cuts that he wants to make during the six-week intervals between the meetings of the Federal Open Market Committee, the policymaking body of the Federal Reserve.
BUSINESS
By Thomas Easton and Thomas Easton,New York Bureau | June 18, 1992
NEW YORK -- No need to get overly excited, but the economy in the Maryland area and the nation is continuing to expand, if modestly.The Federal Reserve Board's survey of current economic conditions, released yesterday, was upbeat and, given the Fed's tendency to be blase about even the most dramatic trend, unusually emphatic about the overall outlook."
BUSINESS
By Thomas Easton and Thomas Easton,New York Bureau | June 18, 1992
NEW YORK -- No need to get overly excited, but the economy in the Maryland area and the nation is continuing to expand, if modestly.The Federal Reserve Board's survey of current economic conditions, released yesterday, was upbeat and, given the Fed's tendency to be blase about even the most dramatic trend, unusually emphatic about the overall outlook."
BUSINESS
By Robert Nusgart and Robert Nusgart,SUN REAL ESTATE EDITOR | April 20, 1997
One day an economic forecast is released that sparks fear that inflation is accelerating, which in turn sends the stock market zooming downward.Less than a week later, another set of government numbers are released that indicate inflation isn't as strong as we thought. Down go the fears and up goes the market.Ah, but those in the know are still wary of the Federal Reserve Board. Will it raise rates again when it meets in May or do nothing?What does it all mean to a consumer in the market for the best mortgage he or she can find?
BUSINESS
By Robert Nusgart and Robert Nusgart,SUN REAL ESTATE EDITOR | April 20, 1997
One day an economic forecast is released that sparks fear that inflation is accelerating, which in turn sends the stock market zooming downward.Less than a week later, another set of government numbers are released that indicate inflation isn't as strong as we thought. Down go the fears and up goes the market.Ah, but those in the know are still wary of the Federal Reserve Board. Will it raise rates again when it meets in May or do nothing?What does it all mean to a consumer in the market for the best mortgage he or she can find?
NEWS
By Howard Kleinberg | February 6, 1995
FEW OF US have any more idea of how the Federal Reserve system works than we do of why otherwise cogent O.J. Simpson defense lawyer Carl Douglas proclaims "withdraw" in the middle of seemingly almost every sentence.Having been deprived of special education at Harvard's, Stanford's or Wharton's schools of business, we are among the vast majority who feel that, despite an elected president and legislative body, Alan Greenspan really is the person who is in charge of this country.While he may not have the power to declare war, make treaties or approve health care reform, Mr. Greenspan, abetted by six other members of the Federal Reserve's Board of Governors -- all frightfully obscure -- can impact our pocketbooks remarkably.
BUSINESS
By KNIGHT RIDDER/TRIBUNE | September 1, 2005
WASHINGTON - Whoever replaces Alan Greenspan as Fed chief will have to navigate the economy through so many uncharted and dangerous waters, it's a wonder anyone wants the job. For starters, economic expansions become more fragile with age, and this one has never seemed very healthy from the start. In addition, housing prices are certainly inflated, if not in a bubble, and will be a headache whether they keep rising or fall. And no Fed chief can rest easy with energy prices at current high levels because "stagflation" - high inflation mixed with stagnant growth - is certainly a possibility.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | May 19, 2005
WASHINGTON - Edward M. Gramlich, one of two Democrats on the Federal Reserve Board, said yesterday that he will resign at the end of August. Gramlich, 65, joined the Fed in 1997, appointed by President Clinton. He said he would become a professor at the University of Michigan, and he plans to write books on the economics of airlines and on low-income housing. Gramlich's resignation will leave two open positions on the seven-man Federal Reserve Board. The other vacancy will be created by the departure of Ben S. Bernanke, who has been nominated to be chairman of the Council of Economic Advisers.
NEWS
By Steve Chapman | May 6, 2003
CHICAGO - In 1998, The New Republic magazine reported that at one Wall Street investment house, bond traders took time each year on Alan Greenspan's birthday to sing "Happy Birthday" and eat cake. At another, it said, traders had "turned an empty office into a Greenspan shrine," with photos of the Federal Reserve Board chairman, quotations from his speeches and an armchair in which he had once sat. It turned out that the co-author of the article, Stephen Glass, had made up these tales to enliven the piece.
NEWS
By ELLEN GAMERMAN | September 26, 1997
WASHINGTON -- When the nation's capital was facing bankruptcy in 1995, President Clinton appointed Andrew F. Brimmer, a respected economist, to help turn around the city's government.Brimmer's stage has been the district's financial control board, a federally appointed panel with authority over everything from the budget to school lunches. Brimmer, 71, is the unpaid chairman of that five-member board, whose reach over city management was made even broader by a federal plan approved this summer.
BUSINESS
By Robert Nusgart and Robert Nusgart,SUN REAL ESTATE EDITOR | April 20, 1997
One day an economic forecast is released that sparks fear that inflation is accelerating, which in turn sends the stock market zooming downward.Less than a week later, another set of government numbers are released that indicate inflation isn't as strong as we thought. Down go the fears and up goes the market.Ah, but those in the know are still wary of the Federal Reserve Board. Will it raise rates again when it meets in May or do nothing?What does it all mean to a consumer in the market for the best mortgage he or she can find?
BUSINESS
By Robert Nusgart and Robert Nusgart,SUN REAL ESTATE EDITOR | April 20, 1997
One day an economic forecast is released that sparks fear that inflation is accelerating, which in turn sends the stock market zooming downward.Less than a week later, another set of government numbers are released that indicate inflation isn't as strong as we thought. Down go the fears and up goes the market.Ah, but those in the know are still wary of the Federal Reserve Board. Will it raise rates again when it meets in May or do nothing?What does it all mean to a consumer in the market for the best mortgage he or she can find?
BUSINESS
By LOS ANGELES TIMES | April 14, 1997
WASHINGTON -- When Federal Reserve Board Chairman Alan Greenspan began warning in February that he was seeing early signs that inflation might be intensifying, many private analysts wondered what his crystal ball had that their own forecasting models did not."I just don't see any serious indication that inflation is on the rise again," said one Wall Street economist at the time. "Of course," he added, "I'm always very cautious in contradicting the Fed. Maybe they know something we don't."As it turns out, they probably did.A new survey by the respected National Bureau of Economic Research shows that the Federal Reserve's confidential internal prognostications are consistently far more accurate than those of private economists, both in predicting inflation trends and in forecasting economic growth.
BUSINESS
By Kevin L. McQuaid and Jay Hancock | June 11, 1995
Recent reports of a surging loss of jobs in May combined with higher-than- average claims for unemployment assistance and dropping home sales have led many analysts to question whether the Federal Reserve Board's attempt to orchestrate a "soft landing" of the economy is succeeding. Some economists say the economy is in a "hard landing" that easily could slip into a recession. Last week Fed Chairman Alan Greenspan defended the board's actions, saying he doesn't believe a recession is on the horizon despite the "quite pronounced" slowdown.
BUSINESS
By LOS ANGELES TIMES | April 14, 1997
WASHINGTON -- When Federal Reserve Board Chairman Alan Greenspan began warning in February that he was seeing early signs that inflation might be intensifying, many private analysts wondered what his crystal ball had that their own forecasting models did not."I just don't see any serious indication that inflation is on the rise again," said one Wall Street economist at the time. "Of course," he added, "I'm always very cautious in contradicting the Fed. Maybe they know something we don't."As it turns out, they probably did.A new survey by the respected National Bureau of Economic Research shows that the Federal Reserve's confidential internal prognostications are consistently far more accurate than those of private economists, both in predicting inflation trends and in forecasting economic growth.
BUSINESS
By Kenneth R. Harney | October 6, 1996
HOME LOAN applicants nationwide should be the beneficiaries of a new Federal Reserve Board rule on upfront disclosure of fees charged by mortgage brokers.Effective Sept. 30, all fees levied by loan brokers and paid directly by the borrower must be included as part of the mandatory truth-in-lending "finance charge" disclosure that consumers receive within three business days of applying for a home mortgage.Before the new rule, the federal government offered no uniform guidance on what fees brokers had to disclose up front as part of the finance charge or annual percentage rate (APR)
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