DIRS.INFO The most relevant business & tech news

“There are,’’ the Bank of England warns, “more consequences from falling prices than meets the eye.’’What could be so bad about lower prices? It is only now emerging from decades of falling prices that began with the collapse of its property and financial markets in the early 1990s. Mainly because falling prices tend to discourage consumers from spending. Why buy now, after all, if you can purchase what you want — cars, furniture, appliances, vacations — at a lower price later? If consumers were to pull back, en masse, to await lower prices, businesses would face intense pressure to cut prices even more to try to jump-start sales.

Persons: they're, that's, what's, Joe Biden's, ’ ’ Lisa Cook, “, United States hasn’t, Tom Krisher Organizations: WASHINGTON, Federal Reserve's Board of Governors, Bank of England, United, España, Unemployed, Bank of Japan, Fed, Bank for International, AP Locations: America, United States, Japan, Spanish, Detroit

Yet according to a raft of polls and surveys, most Americans hold a glum view of the economy. Polls consistently show that most Americans disapprove of Biden's handling of the economy. I hear that from my family.”That's particularly true for some of the goods and services that Americans pay for most frequently: Bread, beef and other groceries, apartment rents and utilities. “Partly because the country is more polarized.”Even so, many Americans, like Charles, are still feeling the pain of inflation. Even if it does, the higher pay may come with a time lag.

Persons: they’re, Joe Biden, Lisa Cook, Cook, ”, Wendy Edelberg, Katherine Charles, Charles, “, ” Charles, Maximus, Eileen Cassidy Rivera, ” Rivera, Karen Dynan, George W, Bush, Obama, Edelberg, ” Edelberg, haven't, Brad Hershbein, Anthony Murphy, Murphy, Aparna Jayashankar, ” Hershbein Organizations: WASHINGTON, Associated Press, NORC, for Public Affairs Research, Federal Reserve's Board of Governors, Duke University, “, Brookings Institution, Medicare, Affordable, Teamsters, Biden, House, Republicans, University of Michigan's, Harvard, Upjohn Institute, Federal Reserve Bank of Dallas Locations: U.S, Tampa , Florida, autoworkers, ”

WASHINGTON, April 14 (Reuters) - The Federal Reserve's Board of Governors on Friday said it has approved UBS Group AG's acquisition of the U.S. subsidiaries of Credit Suisse, clearing another major hurdle for the completion of the Swiss-brokered rescue deal. UBS has committed to give the U.S. central bank an implementation plan for combining its U.S. business and operations with those of Credit Suisse within three months of consummating the deal, the Fed's Board said in a statement. UBS agreed to buy Credit Suisse for 3 billion Swiss francs ($3.3 billion), a fraction of its earlier market value. UBS has said it expects the deal to create a business with more than $5 trillion in total invested assets. Under the takeover deal, holders of Credit Suisse AT1 bonds will get nothing, while shareholders, who usually rank below bondholders in compensation terms, will receive $3.23 billion.

☆ A porn 'Zoom-bomber' hijacked an online conference with a Federal Reserve governor
▼ + stars: | 2023-03-05 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

A virtual meeting with a Federal Reserve governor was canceled after being "Zoom-bombed", per Reuters. The intruder showed porn images on the call, which had more than 200 participants. The hacker displayed the images a few minutes before the conference was due to start. In another incident in 2020, trolls joined Alcoholics Anonymous meetings and told participants in recovery that "alcohol is soooo good." The rise of Zoom meetings and subsequent Zoom-bombing during the pandemic led the company to place a 90-day freeze on new features in April 2020 while it focused on bolstering the platform's security.

The decision, announced after financial markets closed, gives Biden a pair of trusted Washington insiders to steer economic policy as the risk of recession fades but inflation lingers. Big fights also loom with the Republican-controlled House of Representatives over raising the debt ceiling. The shakeup comes as the White House tries to tackle what officials view as a frustrating disconnect between relatively strong economic data and weak public sentiment. The White House has refused to discuss spending cuts without a debt ceiling vote first. Bernstein last week conceded that the White House's early description of inflation as "transitory" had missed the mark.

REUTERS/Kevin LamarqueWASHINGTON, Feb 1 (Reuters) - U.S. President Joe Biden is still weighing candidates for new top economic advisers, officials familiar with the process said, and no final decisions are expected before next week's State of the Union speech. Biden is focused on Tuesday's address to Congress and had not made a decision on the top jobs at the National Economic Council (NEC) and the Council of Economic Advisers (CEA), officials said. Other candidates for the NEC job include Deputy Treasury Secretary Wally Adeyemo and Commerce Secretary Gina Raimondo, Reuters reported last week. Only the CEA job requires Senate confirmation. Brainard was widely floated as the frontrunner for Treasury secretary when Biden came to office, only for him to pick Yellen instead.

Search resuls for: "Federal Reserve's Board of Governors"

6 mentions found