Sep 26, 2012 A group representing British banks is giving up its responsibility for setting a key global interest rate. The British Bankers Association will no longer control LIBOR -- the London Interbank Offered Rate. That's the benchmark for hundreds of trillions of dollars in mortgages, student loans and other transactions around the world.
Sep 24, 2012 Banks are spreading the pain of fees to a wider swath of clients, according to a Bankrate study. Free checking is a dwindling option.
Sep 20, 2012 Bank of America is accelerating plans to cut costs by laying off workers. According to the Wall Street Journal, the bank has set a target of cutting 16,000 jobs by the end of this year -- about 6 percent of the bank's workforce.
Stacey Vanek Smith
Sep 14, 2012 Yesterday Federal Reserve Chief Ben Bernanke laid out the Fed's new economic stimulus plan. It's round 3 of so-called quantitative easing. The Fed will buy $40 billion worth of mortgage-backed securities every month, until it decides the economy has improved.
Sep 14, 2012 The Fed will spend $40 billion a month buying mortgage securities. Yesterday, that news was a big help to markets here in America. Today, it seems to be giving a helping hand to Europe as well.
Sep 14, 2012 Yesterday, Ben Bernanke announced the Federal Reserve is going to do another round of what’s called “quantitative easing.” The Fed will buy $40 billion worth of mortgage-backed securities every month until Bernanke and his colleagues are satisfied the job market -- and the economy -- have improved.
Sep 13, 2012 The Federal Reserve announced its third round of quantitative easing Thursday to help stimulate the economy. You've heard the explainers. You've seen the videos. Now, let's review all the analogies.
Sep 13, 2012 Cries of politics haunt past election-year decisions on monetary policy.
Heidi N. Moore
Sep 13, 2012 Chairman Ben Bernanke revealed that Federal Reserve is proceeding with a third round of quantitative easing. How will this help the economy?
Sep 13, 2012 The Federal Reserve wraps up its two day policy meeting today. It's expected to announce whether it will pump more stimulus money into the U.S. economy. Meanwhile, we just got inflation numbers for August. Wholesale prices increased 1.7 percent last month -- the biggest jump in three years.