Central Banks Drop Tightening Talk as Easy Money Goes On

The Bank of Canada’s dropping of language about the need for future interest-rate increases and today’s decisions by central banks in Norway, Sweden and the Philippines to leave their rates on hold unite them with counterparts in reinforcing rather than retracting loose monetary policy. The Federal Reserve delayed a pullback in asset purchases, while emerging markets from Hungary to Chile cut […]

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Senate Passes Accord to End Shutdown as House Set to Act

The Senate voted 81-18 to halt the 16-day government shutdown and raise the U.S. debt limit, moving one step closer to ending the nation’s fiscal impasse. The House of Representatives began debate at 9:24 p.m. and plans to vote later tonight. The Senate acted the day before U.S. borrowing authority was scheduled to lapse as Congress […]

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First U.S. Shutdown in 17 Years Imminent With No Talks

“Republicans and Democrats say they don’t want to close the government, though neither side is budging from their positions. House Republicans, led by Speaker John Boehner, want to delay President Barack Obama’s Affordable Care Act for a year and make other changes to the law. Democrats, led by Obama, say that won’t happen. Obama will […]

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Buffett Calls Federal Reserve History’s Greatest Hedge Fund

“Billionaire investor Warren Buffett compared the U.S. Federal Reserve to a hedge fund because of the central bank’s ability to profit from bond purchases while accumulating a balance sheet of more than $3 trillion.”   Continue reading on bloomberg.com

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Summers Quit Fed Quest as Democrats Spurned Obama Favorite

“Lawrence Summers’s withdrawal as a candidate for Federal Reserve chairman came after an unprecedented campaign to stop a Fed nominee even before he was announced, spearheaded by Democratic senators who took on a president of their own party. The decision by Summers, the former Treasury secretary and economic adviser to President Barack Obama, followed Democrats […]

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Russia to Brazil Intervention Adds to U.S. Debt Distress

“Investors suffering the worst losses in Treasuries since at least 1978 can add dollar sales by emerging-market central banks to their list of challenges. Speculation that the Federal Reserve, the biggest buyer of Treasuries, will reduce its purchases sent U.S. debt down 4.1 percent this year and boosted the dollar against developing-nation currencies for four […]

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Fed Officials Rebuff Coordination Calls as QE Taper Looms

“Federal Reserve officials rebuffed international calls to take the threat of fallout in emerging markets into account when tapering U.S. monetary stimulus. The risk that the Fed’s trimming of bond buying will hurt economies from India to Turkey by sparking an exodus of cash and higher borrowing costs was a dominant theme at the annual […]

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Abandoned Dogs Roam Detroit in Packs as Humans Dwindle

“As many as 50,000 stray dogs roam the streets and vacant homes of bankrupt Detroit, replacing residents, menacing humans who remain and overwhelming the city’s ability to find them homes or peaceful deaths. Dens of as many as 20 canines have been found in boarded-up homes in the community of about 700,000 that once pulsed […]

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