AOL News has a new home! The Huffington Post.
Click here to visit the new home of Politics Daily!Hot on HuffPost:
Walker Recall Effort Struggles To Gain Momentum
Controversial Book On Obama Appears To Have Lifted Key Quote
FederalReserve
At $1,400 an Ounce, Gold Prices Reach All-Time High
By Steven Hoffer - AOL News(Nov. 8) -- He has been widely criticized for his role as a pitchman for Goldline, but Glenn Beck did have one thing right about gold: The precious metal is on the rise. Gold reached an all-time high of $1,410.30 an ounce today, after setting the record at $1,409.40 an ounce on the Comex division of the New York Mercantile Exchange, according to Reuters. Perhaps this is why the U.S. government is hoarding $300 billion in gold at the Federal Reserve Bank in New York and Fort Knox? "As long as [investors] feel like there is no other recourse except buying precious metals, gold is going to keep ...
Opinion: Will Financial Reform Work? It Depends
By not in system - AOL News(July 16) -- In speaking about the financial regulation bill he will soon sign, President Barack Obama said that the bill "will prevent a financial crisis like this from happening again." This is oversimplified -- there is no way to prevent every crisis and this bill doesn't come close. In leaving Fannie Mae and Freddie Mac untouched, for example, the legislation fails to address a key factor behind the recent crisis. Still, there are elements of the bill that will help prevent future crises even as other parts are likely to have unintended negative consequences. An important innovation is ...
Greenspan and the Economic Blame Game
By Joseph Schuman - AOL News(April 7) -- Who to blame and what to change? The tornado of economic arguments swirling around Washington these days addresses both failures that led to the recent financial crisis and the legislating of new rules aimed at preventing the next one. It shouldn't be surprising that a dominant player in all things economic during the period leading up to the crisis has emerged as one of the most vociferous participants in both parts of that debate. J. Scott Applewhite, AP Alan Greenspan, former chairman of the Federal Reserve, testifies Wednesday on Capitol Hill. Alan Greenspan, who was ...
Shoppers Get New Protection for Gift Cards
By Joseph Schuman - AOL News(March 23) -- American consumers will be protected from hidden fees and untimely expiration dates that chain stores, credit card companies and other merchants tie to retail gift cards under new rules issued by the Federal Reserve. The rules will cover bookstore chains, clothing retailers and other kinds of affiliated stores that make up the majority of gift card issuers, as well as prepaid cards of the kind typically issued by Visa, MasterCard and others that can be used as debit cards wherever credit cards are accepted. And they will affect the estimated 95 percent of Americans who have ...
Get Ready for Round 3 of Credit Card Reform
By Broderick Perkins - AOL News(March 19) -- Don't take the shears to your credit card just yet. While credit card issuers may have managed to stay one step ahead of consumer-protection regulations, the next round of Credit CARD Act provisions will force them to roll back some of their charges. "This proposal addresses two key costs of using a credit card -- fees and interest rates," said Federal Reserve Governor Elizabeth A. Duke. Before the Fed could roll out the first phase of the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009 in August, credit card issuers used the time to jack up ...
Donald Kohn, Federal Reserve Vice Chairman, Will Retire in June
By David Sessions - Politics DailyFederal Reserve vice chairman Donald Kohn said Monday that he would retire from the seven-member board when his term expires in June, the New York Times reports. The departure of Kohn, who played a significant role in shaping the Fed's response to the 2008 financial crisis, will increase the number of vacancies on the board to three, allowing the Obama administration to exert considerable influence over U.S. monetary policy. The White House said Kohn's decision was "his alone" and that President Obama will name a successor before his term as vice chairman ends on June 23. Kohn could have ...
Fed Raises Its Discount Rate in a First Tightening Move
By not in system - AOL News(feb. 18) -- Stock-index futures fell sharply late Thursday after the Federal Reserve announced it's raising the discount rate it charges on loans to banks. The dollar rallied sharply and the euro touched a nine-month low on the move, which signals the beginning of the end of the central bank's extraordinary stimulus measures. ...
Ben Bernanke Approved for Second Term As Fed Chairman
By Patricia Murphy - Politics DailyDespite hostile opposition from some Democrats and Republicans, the Senate approved Ben Bernanke's nomination to a second term as chairman of the Federal Reserve Thursday by a vote of 70 to 30. The opposition to Bernanke included senators at the furthest wings of their parties, including Sens. Russ Feingold of (D-Wisc.), Bernie Sanders (I-Vt.)and Al Franken (D-Minn.) on the left, along with conservatives like Jim DeMint (R-S.C.), John Cornyn (R-Texas) and Richard Shelby (R-Ala.), the top Republican on the Senate Banking Committee. Sen Chris Dodd (D-Conn.), the Chairman of the committee, voted ...
Bernanke Confirmed for Second Term at the Fed
By Joseph Schuman - AOL News(Jan. 28) -- The Senate on Thursday confirmed Ben Bernanke to a second term as chairman of the Federal Reserve by a strong majority just three days before his current tenure expired, ending a surprisingly tenacious confirmation process that underscored widespread anger at the government's response to the financial crisis. The 70-30 tally followed a tense procedural vote whose outcome had been in doubt amid a recent surge of opposition to Bernanke's renomination by President Barack Obama. Karen Bleier, AFP / Getty Images The Senate's vote to confirm Federal Reserve Chairman Ben Bernanke ...
For Washington, It's All About the Economy
By Joseph Schuman - AOL News(Jan. 25) – Once again, it is all about the economy. That political truth has again emerged as the most politically resonant theme in Washington, from the Obama White House crafting its first State of the Union address to a nominally nonpartisan Federal Reserve under fire from both ends of the political spectrum to a Republican Party hoping this fall to capitalize on the anger fueled by widespread economic uncertainty. President Barack Obama, his health care ambitions put aside, looks set to focus his annual speech to Congress on what the White House described Monday as its major ...
Follow Politics Daily
POPULAR
- Nancy Pelosi Confirms House May Skip Up or Down Vote on Senate Health Bill
- Debrahlee Lorenzana: A Double Take on Those Double D's
- Campbell Brown Quits CNN With Shockingly Frank Farewell
- Palin Earnings Estimated at $12 Million
- The Five Most Racist Obama Cartoons?
- Jimmy Carter Leaves Church Over Treatment of Women
- Soraya M., Stoned to Death for Being an "Inconvenient Wife''
- No posts are available.
News From Our Partners
- Dragon arrives at space station in historic 1st
- Picking new leader, Egyptians search for superman
- Egyptians vote in first free presidential vote
- Moon chips from Vegas casino mogul sent to NASA
- Egyptians vote to rid nation of autocratic rule
- More Stories »
- 'Masters of the Universe' Sure Have Fragile Egos
- Romney: My Mistakes 'Haunt Me'
- Newt Lauds Romney: He's Like Eisenhower
- Irked Senate Panel Votes 30-0 to Cut Pakistan Aid
- GSA Bash Organizer Steps Down
- More Stories »
- Know Your Enemy
- Obama’s Challenge in Egypt
- The Edwards Waiting Game
- Are Doctors Doing Too Much?
- The Pagan Cult of Reagan
- More Stories »
- Ambition Counteracting Ambition
- Robert Blagojevich Speaks Out
- In Iowa, Obama Calls Romney's Words 'A Cow Pie of Distortion'
- In Iowa, Obama Calls On Congress to Act on Clean Energy Tax Credits
- Romney Has Interesting Morning in Inner-City Philly
- More Stories »
Top News
More News
More on Aol
Local News
More Blog/Sites
Sites and Services
HuffPost Politics