Word: elections
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Until a late-day rally on Friday, sparked by word that President-elect Obama would name Timothy Geithner as his new Treasury Secretary, last week was another brutal one for the stock market, with the S&P 500 stock index hitting an 11-year low. From trading floors to kitchen tables, people are anxiously asking, What's next? Historically, the markets rally as one calendar year turns into the next, but could there really be reason to hope for a year-end rally at a time when the only precedents that seem to apply are the worst bear markets...
Taking effective control of U.S. economic policy two months before he will be sworn into office, President-elect Barack Obama promised an "aggressive" economic recovery plan in the first month of 2009 that will include tax cuts and new spending on jobs, energy infrastructure, health care and education...
Maxwell L. Child ’10 will lead the newly-elected 136th Guard of The Harvard Crimson, the paper’s outgoing president announced Friday. Child, an economics concentrator from Pasadena, Calif. and Lowell House resident, is a news writer and has been an operations manager on the business board since February. He will assume the president’s post at the start of the spring semester. The paper’s outgoing editors elected their successors early Friday morning, and the president of the 135th Guard, Malcom A. Glenn ’09, announced the results...
Democratic sources say President-elect Barack Obama will name former University President Lawrence H. Summers director of the National Economic Council—essentially the president’s senior economic advisor—according to news reports this weekend. Once a top contender to be Obama’s Treasury secretary, Summers, who led the Treasury under President Clinton from 1999 to 2001, will be advising the president on both domestic and foreign economic policy. He will likely be working closely with Obama’s nominee for Treasury secretary, Federal Bank of New York President Timothy F. Geithner...
Several University alumni and faculty members, many hailing from the Harvard Kennedy School and Harvard Law School, have joined President-elect Barack Obama’s transition team...