Barack Obama
Central Bank of Iran faces ‘crippling sanctions’ from US
US senators urge President Barack Obama to apply strict financial sanctions on Central Bank of Iran
Political impasse raises US default concerns
As the August 2 deadline to raise the US debt ceiling looms, Blair Baker looks at what the prospect of a default in the US means for the world and whether the Fed can play a pivotal role in Washington
US will resolve debt crisis by August 2: Obama
President Barack Obama says failure to raise the US debt ceiling would be “not acceptable”
Nobel Prizewinner not right for Fed: key Republican senator
Senate Banking Committee ranking member Richard Shelby sets out reasons underpinning party’s repeated rejection of Nobel Prizewinner Peter Diamond for Fed board seat
High US unemployment suggests greater search frictions: Nobel Prizewinner Pissarides
London School of Economics professor says fact that rising vacancies have failed to temper unemployment signifies “something wrong” in labour market
Warsh quits Fed
Federal Reserve board member Kevin Warsh plans to step down from Fed seven years before term ends
Volcker steps down as economic adviser to Obama
President Obama announces departure of former Fed chair Paul Volcker from Economic Recovery Advisory Board; appoints General Electric's Jeff Immelt as head of new Council on Jobs and Competitiveness
Obama determined to appoint Diamond to Fed board
United States President Barack Obama pushes for third nomination of Nobel laureate Peter Diamond to Federal Reserve Board
Britain unveils sweeping, cross-border bank levy
UK government publishes draft bank tax law which will affect domestic banks operating overseas and foreign bank operations in Britain; proposal highlights international disunity
Prop trading restrictions already hurting liquidity, say investors
Restrictions on bank proprietary trading have caused liquidity to fall in both the cash and derivatives markets, forcing buy-side participants to adopt alternative investment strategies
Summers quits Obama’s economic team
Chief adviser to President Obama, Lawrence Summers, announces departure from National Economic Council at end of year
Elizabeth Warren poised to run consumer body: reports
US media say Harvard academic Elizabeth Warren to be named assistant to President in new consumer body; designation will allow her to circumvent politically charged confirmation process
Goolsbee to replace Romer at helm of Council of Economic Advisers
Former University of Chicago professor Austan Goolsbee named as successor to Christina Romer
Washington begins writing out reliance on ratings agencies
Federal Reserve, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and Office of Thrift Supervision begin search for new measure of creditworthiness
Top US economic adviser Christina Romer quits
Chair of US President’s Council of Economic Advisers Christina Romer resigns, citing family reasons; thought to be interested in Janet Yellen’s post at San Francisco Fed
Fed finally set for full complement of governors
Senate Banking Committee okays Janet Yellen for Fed vice-chair; Peter Diamond and Sarah Raskin also approved for Fed board; first time six governors have served the Fed in more than four years
Dodd-Frank starts to bite as Obama signs bill into law
US President Barack Obama draws a line under year-long legislative process, hailing bill’s benefits to consumers; ratings agencies flustered by exposure to ‘expert liability’
Volcker philosophical on weakened rule, reform bill
Former Fed chairman Paul Volcker says failure to include dollar limit on banks’ positions in hedge funds “disappointing”, but accepts need for political compromise
Fed is the main winner from Dodd-Frank bill: Meyer
Former Federal Reserve governor Laurence Meyer says the central bank has gained powers it wanted and shed responsibilities it did not, despite initial anti-Fed sentiment among lawmakers
US lawmakers seal deal on reform bill
Members of the House of Representatives and Senate conclude the conference process; text includes part of the Volcker rule, surprise bank levy, and stronger-than-expected Fed audit clause
Markets rejoice as Beijing reverts to managed float
Investor risk appetite soars as China drops the renminbi’s rigid dollar peg; analysts say Beijing’s policy shift sparked by potential benefits, rather than international pressure
Fed could win fight on monetary policy audit: reports
Media reports saw lawmakers in Congress's lower house could relent on forcing monetary policy decisions to be audited, as lawmakers work to forge swift agreement
Volcker rule fails to make approved Dodd bill
Key amendment omitted; Fed gains powers but will face audit in sweeping regulatory reform
Europe to place CDS markets under spotlight: Barnier
European commissioner Michel Barnier says legislation in works requiring credit default swaps to be registered and made fully transparent; follows criticism of investors from European leaders