June 19, 2009 |
The Federal Reserve, which has been at the center of the government rescue of the financial system, is now on the hot seat, with a debate on Capitol Hill emerging over its responsibility for the crisis and its proper role in preventing such events in the future. Lawmakers are simultaneously annoyed that the Fed did not do more to rein in the bad lending and other financial excesses that led to the financial crisis and recession, and wary of the Fed's aggressive steps over the past two years to combat them.
December 25, 2012 |
TOKYO —Shinzo Abe, who will become Japan's prime minister Wednesday, kept up his calls on for the Bank of Japan to drastically ease monetary policy by setting an inflation target of 2 percent, and repeated that he wants to tame the strong yen to help revive the economy. Prime Minister Yoshihiko Noda's Cabinet resigned Wednesday to clear the way for a vote by parliament's lower house later in the day to formally install Abe as the nation's new leader. Japanese media...
November 11, 2011 |
The European Central Bank should begin aggressively buying the bonds of troubled countries such as Italy to halt the region's financial crisis, the president of Portugal said in an interview that took aim at the failure of Europe's core leaders to take more decisive action. "This is a systemic crisis that took too long for Europe's leaders to be aware of," President Anibal Cavaco Silva said during a U.S. trip to court investment for the country and make the case that Portugal intends to stick...
August 20, 2012 |
Germany's central bank warned on Monday that the country could be stressed by the region's ongoing financial crisis, with signs of a slowdown accumulating in the euro zone's largest economy even as it is being relied on ever more to prop up its neighbors. "Confidence in German public finances is a key anchor of stability in the current crisis but it cannot be taken for granted," the Bundesbank said in a monthly report that cautioned against what it called the potentially "unlimited"...
October 2, 2012 |
BERLIN — In a country where belief in a rock-solid currency is a secular religion, the head of Germany's central bank, Jens Weidmann, is preaching fire and brimstone. As Europe takes radical steps to combat its years-long economic crisis, Weidmann is using his influential pulpit to turn German public opinion against the efforts. Comparing current plans to save the euro zone to the devil's work and likening them to an addictive drug, Weidmann has in recent weeks emerged as the...
June 28, 2011 |
KABUL —The Afghan government lashed out Tuesday at its former central bank president, who fled to Virginia and announced there Monday that he had resigned in fear for his life. Officials here have accused him of involvement in a major bank scandal and said he had nothing to fear but the law. The former central bank head, Abdul Qadir Fitrat, told the Afghan parliament two months ago that a group of powerful Afghans, including a brother of President Hamid Karzai and a brother of...