ECONOMY & MARKETS

Euro weak on profit-taking, dollar recovers

QE3 Reviving Fears Of Global Currency Wars

Thursday's announcement by the U.S. Federal Reserve that it would be engaging in a third round of open-ended bond-buying, known as QE3, to energize the economy saw a resoundingly positive reception in the foreign financial markets, where indexes rose Friday. But market-watchers were expecting the global equity party would lead to an inevitable hangover soon, in the form of intervention by central banks around the world, to stop massive inflows of dollars into non-U.S. economies -- in short, a...
Luxury home in Malibu, California

How Washington Subsidizes Home-Buying For The 1%: Report

Government-owned Fannie Mae and Freddie Mac, which were set up to help blue-collar and middle-class workers buy their own homes at lower interest rates, are also helping the nation's one percent to purchase luxurious homes.
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An investor gestures as he talks to a person in front of an electrical board showing stock information at a brokerage house in Huaibei

Asian Markets Gain As Fed Launches QE3

Asian stock markets made gains Friday as investor confidence was lifted following the announcement of another round of quantitative easing by the U.S. Federal Reserve which is expected to rejuvenate the economic growth.
US Federal Reserve

US Economy To Grow 2% Or Less This Year: Fed

The U.S. central bank lowered its forecast for economic growth this year, but it reiterated its expectations for unemployment. Further, the bank said it now expects the Fed's first interest rate hike to take place in 2015.
Ben Bernanke

Bernanke Press Conference On QE3 - Live Blog

The Fed's decision to increase securities purchases by $40 billion per month - QE3 - exceeded analysts' expectations, and in his press conference Bernanke outlined the central bank's reasons for the move.
Fed Chairman Ben Bernanke

Fed Announces QE3, Bigger Than Expected

The Federal Reserve will begin buying more than $80 billion of securities per month in the third attempt at stimulating the U.S. economy by boosting the central bank's balance sheet.
US Federal Reserve

US Federal Reserve Sept. 13 Meeting Statement [Full Text]

In the statement, the Federal Reserve announced Thursday it will buy $40 billion per month of mortgage-backed securities, the start of the so-called third round of quantitative easing, QE3. The Fed also said it will continue 'Operation Twist,' bringing total securities purchased per month to $85 billion.
Fed Chairman Ben Bernanke

Live Stream of Bernanke Press Conference: Where to Watch

Here are two places to get a live stream of the news conference that Ben Bernanke, the chairman of the Federal Reserve, will hold today following the conclusion of a two-day meeting by the central bank's rate-setting committee.
China GDP

Is China’s Stimulus For Real? Economists Lower 2012 Growth Forecasts

China's economic slowdown is expected to reach its nadir in the third quarter, leaving growth for 2012 likely to fall below 8 percent, a level unseen since 1999. While top Chinese leaders remain confident that the world's second-largest economy still has "ample strength" in either monetary or fiscal domains to propel economic growth, economists caution that the $158 billion stimulus unveiled by China may not be all it's hyped up to be.
Corsica

Corsica: Violence In Paradise

The island, officially French but in fact very much its own place, is among the most beautiful in the Mediterranean, but it still suffers from endemic violence by nationalists and mobsters. What's wrong with Corsica, then?
Traders work on the floor of the New York Stock Exchange

US Stock Futures Signal Lower Open Ahead Of Fed Decision

The U.S. stock index futures point to a lower open Thursday as investors maintained a cautious mode ahead of the Federal Reserve meeting in which there is the likelihood of another round of quantitative easing measures to be announced to invigorate the economy.
Woman walks past stock quotation board outside brokerage in Tokyo

Asian Markets Rise On US Easing Hopes

Most of the Asian markets made gains Thursday as investors remained hopeful waiting for the policymakers in the U.S. to announce monetary easing measures to boost the global economy and rejuvenate the economic growth momentum.
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Asian Shares Slip On Caution Over Fed Action

Asian shares eased Thursday ahead of the U.S. Federal Reserve's decision later in the day, but investors remained optimistic of further stimulus action to bolster the world's largest economy.
New homes under construction are seen at Hawaiian Gardens, California

US Homebuilder Stocks Surge, But Will It Last?

One of the best-performing sectors this year was also one of the hardest hit by the recession: homebuilders, whose stocks have outpaced the broader market with a modest rebound in home prices and increased demand for properties, but much of recovery has unevenly benefited the luxury sector.
Barack Obama

Obama Earns ‘F’ On Issue Most Important To Voters

Voters continually claim that one issue is most important to them this election. It’s an area where President Barack Obama fails miserably and, for that reason, is trying desperately to avoid it -- the economy.
German Court ESM Ruling

German ESM Ruling: World Stocks Rally, But Don’t Sound The All-Clear Yet

Market bulls charged on Wednesday -- running U.S. stock futures, European stocks, the euro, oil and gold higher -- in the wake of a German court ruling that backs the country's participation in the euro zone's new bailout fund created to prevent the weakest euro economies from going bust. However, some economists warn that it's too early to sound the all-clear on the fate of the single currency bloc.

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