Created in 1913 with the enactment of the Federal Reserve Act, the Federal Reserve (the Fed) is the central banking system of the U.S. The Fed functions as the bank of the U.S. government, overseeing the nation’s financial institutions. As the central bank, the Fed safeguards and manages the U.S. economy and its money supply with its economic and monetary policies, which makes it a very powerful global player. Ben Bernanke is the current chairman of the Federal Reserve.
Shares of Newmont Mining Corporation (NYSE/NEM) plunged following a steep sell-off in gold prices.This morning, gold prices dove below the $1,100 mark for the first time since March 2010 after sellers in China ditched more than $2.7 billion of the yellow metal. The plunging gold price dragged down Newmont’s shares about 11.45%. Read More
The NASDAQ opened slightly higher on Monday July 20th, as Greece reopened its banks and started the process of paying off billions of euros owed to the International Monetary Fund (IMF).European equities soared to six-week highs on Monday as Greece began to return to normality after a deal to agree on a new bailout package. Volatility. Read More
Stock market advice for a market already at or near its all-time high is just guesswork. This market could crash on some material event, it could stay in consolidation for several quarters, or it could tick higher in anticipation of a better 2016.What has happened is that expectations for corporate earnings have come down tremendously.. Read More
In the wake of Greece’s debt crisis and China’s stock market crash, Federal Reserve Chairwoman Janet Yellen reiterated the likelihood of an interest rate hike this year. The central banker’s comments came during her semi-annual testimony before Congress.Dr. Yellen read from a prepared statement, saying, “If the economy. Read More