U.S. Federal Reserve Chairman Ben Bernanke warned on Tuesday that a long period of high unemployment could exact a steep social cost, as he and other Fed officials defended the central bank against criticism of its easy money policy.
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Reuters – Federal Reserve Chairman Ben Bernanke warned on Tuesday that a long period of high unemployment could exact a steep social cost, as he and other Fed officials defended the central bank against criticism of its easy money policy.
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Australia’s economy grew at the slowest pace in almost two years last quarter as the booming mining sector hit an air pocket while consumers were cowed by higher interest rates, sending the local dollar skidding.
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Reuters – Richmond Federal Reserve Bank President Jeffrey Lacker said on Tuesday that he sees some “hysteria” and “overreaction” in worries that runaway inflation is around the corner.
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American International Group Inc. has sold most of a consumer lending unit to Fortress Investment Group LLC, the companies announced Tuesday.
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Reuters – The House of Representatives may vote on Thursday on a measure to let income tax rates rise for the wealthiest 2 percent of U.S. households, a top Democrat said on Tuesday.
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Reuters – The House of Representatives may vote Thursday on a measure to let income tax rates to rise for the wealthiest 2 percent of U.S. households, a top Democrat said Tuesday.
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AP – Federal Reserve Chairman Ben Bernanke is expressing concern that the economy isn’t growing fast enough to significantly reduce unemployment.
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Reuters – The House of Representatives may vote Thursday on a measure to let income tax rates to rise for the wealthiest 2 percent of U.S. households, a top Democrat said Tuesday.
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Reuters – Federal Reserve Chairman Ben Bernanke, whose efforts to spur economic growth are under fire internationally and at home, on Tuesday said extended high unemployment could exact a high social cost.
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