Word: banking
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...being on shaky ground is the fact that even on days when stock prices are rising, few people are trading, making for some fairly thin rallies. "Sellers have entered the market but buyers have stepped away," says Mary Ann Bartels, head of U.S. technical and market analysis at Bank of America/Merrill Lynch. "When that happens, we have to question the sustainability of the rally." (See which businesses are bucking the recession...
...back. I would have [left office] this year anyway. I thought at the end public opinion would be fed up with the tribunal and fed up with me. It just goes on and on. You're asked questions like, 'Do you not remember well going into a bank on Sept. 23, 1993?' and eight hours later you're thinking 'Jesus, did I go into the bank on Sept...
...Most will raise rates - but one very conspicuous central bank is unlikely to follow suit. With the U.S. jobless rate at 9.8% and still rising, the U.S. Federal Reserve cannot risk a rate increase anytime soon, despite the danger of inflation. Raising rates would add to the burden on U.S. businesses, particularly small- and medium-size enterprises that account for the majority of U.S. jobs. Higher rates would also make mortgages, credit-card debt and other forms of personal financing more expensive, further crimping consumer spending, which accounts for the bulk...
...Chairman Ben Bernanke tried to talk up the dollar last week by declaring that the central bank would tighten monetary policy in order to avert inflation. But he also emphasized that the Fed is committed to keeping interest rates at near zero to help the battered economy. In the tug of war between those two antithetical positions, it's virtually certain that near-zero rates will win for the foreseeable future...
...report sounds fantastical on its face, and Muhammad al-Jasser, Saudi Arabia's central bank governor, lost no time in branding it "absolutely incorrect." But the fact that these assertions are being made at all shows how seriously confidence in the dollar has been shaken. The world's central banks are starting to shun the dollar. According to Barclays Capital, nations reporting currency breakdowns of their reserves invested 63% of new cash in euro and yen in the quarter to June 2009. It seems the U.S. will have to resign itself to a weaker currency until its economic house...