Wells Fargo Stock Tumbles After Harsh Penalty From FedWells Fargo stock is tumbling after the Federal Reserve's unprecedented punishment of the bank.
Fed Hikes Key Interest Rate For 2nd Time In 3 MonthsThe Federal Reserve has raised its benchmark interest rate for the second time in three months and signaled that any further hikes this year will be gradual.
Positive Economic News Met With Big Selloff On Wall StreetNew home sales surged higher by nearly 7% in April, durable goods orders rebounded with a business investment spending improving for the second straight month, a critical sign for growth, and even consumer confidence is on the rise, although that really hasn't translated into higher retail spending, in spite of lower gas prices and an improving job market.
Wells Fargo Sees Rare Profit DipFirst quarter earnings slipped 1.5-percent to $5.8-billion dollars, down from a record $5.9-billion a year earlier, and the first decline in four years for the country's largest mortgage lender.
Dow Jones Tops 18,000 For First Time As U.S. Economy Grows At Fastest Pace In 11 YearsStocks are pushing further into record territory as the Dow Jones industrial average tops 18,000 points for the first time.
Senate Confirms UC Berkeley Economist Yellen To Chair Federal ReserveThe Senate confirmed Janet Yellen on Monday as the first woman to lead the Federal Reserve, elevating an advocate of fighting unemployment and a backer of the central bank's efforts to spur the economy with low interest rates and massive bond purchases.
San Francisco Police Clear Out Encampment Outside Federal Reserve BuildingPolice cleared out what they called a “homeless camp” in downtown San Francisco Monday morning—the same area where a protest was planned throughout the day.
Yellen's Nomination To Lead Fed Celebrated By UC Berkeley ColleaguesJanet Yellen's colleagues and friends at the University of California at Berkeley on Wednesday celebrated her nomination by President Barack Obama to be the next chair of the Federal Reserve.
Janet Yellen Nominated For Federal Reserve ChairPresident Barack Obama says that in Janet Yellen he’s found a tough and proven leader to take over as chairman of the Federal Reserve.
Obama To Nominate UC Berkeley's Yellen As Federal Reserve ChairPresident Barack Obama will nominate Federal Reserve vice chair and University of California, Berkeley professor emeritus Janet Yellen to succeed Ben Bernanke as chairman of the nation's central bank.
Bay Area's Yellen Front-Runner For Fed Chair AgainFederal Reserve Vice Chair Janet Yellen - a Bay Area local - is once again the odds-on favorite to become the next chair of the Federal Reserve, now that President Barack Obama's preferred candidate, former adviser Larry Summers, has stepped out of the race.
Fed Projects High Unemployment For Next 3 YearsThe Federal Reserve projects the unemployment rate will stay elevated until late 2015, suggesting it will keep short-term interest rates low for the next three years.