Christoper Leonard’s “The Lords of Easy Money” takes aim at the Fed’s decision to inject new money into the banking system.
Tag Archives: Banking and Financial Institutions
Let Innocent Afghans Have Their Money
Afghanistan is on the verge of collapse.
Biden Will Nominate Three New Fed Officials
The nominees would bring more diverse leadership to the Fed, which has struggled to expand its ranks.
Libor, Long the Most Important Number in Finance, Dies at 52
Bankers used it until the end. Regulators say good riddance after its infamous fall.
Jerome Powell Says Fed Is Prepared to Raise Rates to Tame Inflation
The Federal Reserve chair is testifying before lawmakers as he seeks Senate confirmation to a second term.
Bitcoin, Inflation and the Misguided Fear of Government Money Creation
Bitcoin can’t solve a problem we don’t actually have.
Crusading for God, Family and … Bitcoin?
What’s the deepening alliance between MAGA and cryptocurrency?
U.S. Details Possible Sanctions on Russia Over a Ukraine Invasion
The Biden administration and its allies are developing new possible sanctions ahead of a series of meetings to defuse the crisis with Moscow.
How to Go From Homelessness to Venture Capital
Training programs like Year Up can rescue people like Fred Mutsinzi — but they aren’t cheap.
Will Inflation Push Us From Pandemic to Recession?
Inflation unchecked can become a father to extremism.
Why Banks Are Slow to Embrace Cloud Computing
Cloud computing is slowly changing how Wall Street banks handle their business, but concerns with security remain.
Goldman Sachs Follows Wall Street Rivals in Asking Staff to Work From Home
In a shift in policy as Covid cases rise, the Wall Street firm urged U.S. employees who can work remotely to do so until Jan. 18.
Santander UK Makes $175 Million in Mistaken Payments
Santander UK is working to collect about 75,000 payments made in error on Christmas Day to its own customers and to others who use different banks.
Trump Appointee Resigns After Fight With Democratic Bank Regulators
Jelena McWilliams, the chairwoman of the F.D.I.C., said in a letter to President Biden that she would step down effective Feb. 4. Her departure adds a second vacancy on the five-member board.
Fed’s Moves in 2022 Could End the Stock Market’s Pandemic Run
Shares soared as interest rates stayed low and stimulus programs helped the economy. But expected changes could make investors wary.
Trump Fraud Inquiry Won’t Be Resolved When Vance’s Term Ends Next Week
After leading a three-year investigation into the former president, the Manhattan district attorney, Cyrus R. Vance Jr., will hand it to his successor.
Cashing In Grandma’s Gold Coins, a Turkish Family Struggles to Get By
As inflation soars and the value of Turkey’s currency plummets, one couple described how working families can’t make ends meet and have had to cut back on basic necessities as well as life’s smaller pleasures.
Omicron Is an Economic Threat, but Inflation Is Worse, Central Bankers Say
Within 24 hours, the Federal Reserve, Bank of England and European Central Bank all stepped forward to deal with price increases.
The Bank of England raises its interest rate in bid to control inflation.
Britain’s central bank was the first major bank to raise interest rates as inflation climbed to the highest level in a decade.
Turkish Currency Hits a New Low, Again
The Central Bank has cut interest rates, even as inflation continues to soar, deepening President Erdogan’s disputed economic plan and setting off a new plunge in the lira.
Why Jerome Powell Pivoted on Inflation
A surge in wages and benefits got his attention. Other data soon confirmed his concern.
A Squabble at the F.D.I.C. Is Actually a Fight Over Biden’s Entire Economic Agenda
The current chairwoman could effectively run out the clock on the president’s first term.
Take Action Now to Curb Inflation
It’s better to act more aggressively now than wait and risk sparking a recession later.
How Bank Regulators Are Trying to Oust a Trump Holdover
Jelena McWilliams, the FDIC’s chairwoman, doesn’t always go along with President Biden’s agenda. Other regulators want to push her out.
Cash Is Out. Crypto Is In. Can We Trust What’s Happening to Money?
It’s not just about the demise of coins and dollar bills. It’s also about society’s faith in the very idea of money.
Saule Omarova, Biden’s Pick for Key Banking Regulator, Backs Out
Saule Omarova withdrew herself from consideration to be comptroller of the currency after attacks from Republicans and banking lobbyists that labeled her a communist.
China Cuts RRR as Evergrande, Kaisa Face Deadlines
Evergrande and Kaisa must come up with hundreds of millions of dollars in days. Beijing sought to reassure markets overall, but signaled it might let Evergrande fail.
The Markets Are Confused, but Wall Street Is Still Making Predictions
The emergence of the Omicron variant underlines the difficulty of planning even a few weeks ahead. Wall Street is forecasting next year’s precise market returns, regardless.
Britain Enlists Banks to Fight Climate Change
The financial industry will be relied on to meet climate goals. NatWest, a lender to oil giants, provides a template.
Powell Says Fed Could Finish Bond-Buying Taper Early
The Federal Reserve could pull back economic support faster as inflation lasts, and its chair signaled that for now the Omicron variant is a “risk.”
Taliban and 9/11 Families Fight for Billions in Frozen Afghan Funds
The White House must figure out what to do with the Afghan central bank’s account at the Federal Reserve, now frozen under U.S. law.
Bankers Took Over the Climate Change Summit. That’s Bad For Democracy.
Environmentalists are skeptical. They should be.
Wall Street Warms Up, Grudgingly, to Remote Work, Unthinkable Before Covid
Finance employees who couldn’t imagine working from home before the pandemic are now reluctant to return to the office. Their bosses can’t figure out how to bring them back.
Powell or Brainard? Why Biden’s Pick to Lead the Fed Matters Now
Joe Biden’s pick to head the Federal Reserve is coming down to Jay Powell or Lael Brainard.
Fact-Checking Kevin McCarthy’s 8-Hour Speech
The House Republican leader made a number of false or misleading claims about the social spending bill, President Biden, immigration policy and Teslas.
Wall Street Is Finally Getting Access to China. But for How Long?
Citigroup, JPMorgan Chase and Goldman Sachs are among those eyeing huge potential profits, undeterred by Beijing’s sudden policy changes and friction with the United States.
N.Y. Taxi Drivers Will Receive Millions in Aid After Hunger Strike
The announcement was a victory for drivers who stopped eating to protest an earlier bailout plan they said did not go far enough.
What Jerome Powell Didn’t Do: Lay the Groundwork for Higher Rates
He said high inflation was mostly a result of pandemic effects like supply network disruptions, a problem he thinks the Fed can’t fix.
Federal Reserve Announces Plan to Slow Bond Buying Program
The Federal Reserve is dealing with high inflation at a time when millions of workers remain on the job market’s sidelines.
What to watch at the Fed’s meeting Wednesday.
The Federal Reserve is expected to announce plans at 2 p.m. Wednesday to slow its bond buying while leaving interest rates near zero. But the focus is on what comes next.
Regulators Ask Congress to Create New Rules for Cryptocurrencies
A Treasury Department report says stablecoin issuers should operate like banks to avoid destabilizing runs that could erode financial stability.
Banks Tried to Kill Crypto and Failed. Now They’re Embracing It (Slowly).
Digital payments technology is forcing the financial system to evolve. Banks feel their power waning and want to regain control.
How Corruption Ruined Lebanon
The deadly port blast, the triple-digit inflation, the energy shortages — Lebanon’s many crises have a shared root: misrule by a self-dealing elite.
Biden Needs to Diversify the Fed’s Leadership
President Biden has a chance to overhaul the stale culture of central banking.
Federal Reserve Announces New Trading Restrictions on Central Bank Officials
The Federal Reserve faced scrutiny after two regional bank presidents disclosed questionable 2020 trading. Now it’s revamping the rules.
U.S. Warns Climate Poses ‘Emerging Threat’ to Financial System
A Financial Stability Oversight Council report could lead to more regulatory action and disclosure requirements for banks.
Stocks Hit a Record as Investors See Progress Toward a Spending Deal
After weeks of fluctuations driven in part by Washington gridlock, share prices hit another high and put a dismal September in the rearview mirror.
Fed Ethics Office Warned Officials to Curb Unnecessary Trading During Rescue
Months later, some Federal Reserve leaders resumed their market activity, stoking a scandal now engulfing the central bank.
Democrats to Scale Back Proposal for Banks to Report Account Balances to IRS
Banks would have to provide data on accounts with annual deposits or withdrawals exceeding $10,000, not including payroll and beneficiary deposits, rather than $600.
S.E.C. Describes the GameStop Frenzy, but Not What to Do About It
A long-anticipated report did not suggest any policy changes in response to the meme stock frenzy that caused some little-regarded shares to soar.