New 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.
First 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.
Stocks are pushing further into record territory as the Dow Jones industrial average tops 18,000 points for the first time.
The 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.
Police 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.
Janet 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.
President Barack Obama says that in Janet Yellen he’s found a tough and proven leader to take over as chairman of the Federal Reserve.
President 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.
Federal 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.
The 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.