Federal Reserve

JPMorgan (JPM), Goldman Sachs Inc (GS) Capital Plans Gets Fed Approval

Goldman Sachs Group Inc (NYSE:GS) and JPMorgan Chase & Co (NYSE:JPM) got their capital plans passed by the U.S. Federal Reserve after being told to improve on certain aspects in their capital planning process. "We...

U.S. GDP Climbs 2.8 Percent, Stock Markets Decline

The United States gross domestic product (GDP) increased 2.8% in the third quarter from 2.5% in the previous quarter. The acceleration of the GDP was driven primarily by improvement in private inventories based on...

Pres. Barack Obama Nominates Janet Yellen to Head the Federal Reserve

President Barack Obama officially nominated Janet Yellen, vice chairperson of the Federal Reserve to succeed Ben Bernanke who will be retiring from his post. The President encouraged the Senate to approve her appointment immediately...

Federal Reserve Maintains $85B Stimulus, Stock Markets Rally

The stock markets in the United States rallied to a new record high after the Federal Reserve surprisingly maintained its $85 billion monthly stimulus or bond-buying program. Policy makers were concerned that the sudden...

Summers Exits Fed Candidacy; U.S. Stock Markets Rally

The stock markets in the United States rallied over the decision of former National Council of Economic Director, Lawrence Summers to withdraw his candidacy to become the next head of the Federal Reserve to...

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