News from www.lacrossetribune.com (Free subscription) | 14/11/2008
WINONA, Minn. Companies “too big to fail” have endangered the country’s economic health, and policy makers need to find ways to soften the blow, Gary Stern, president of the Federal Reserve Bank of Minneapolis, said Thursday at Winona State University.
Reuters (Free subscription) | 13/11/2008
Fed's Stern says crisis shows urgent reform needThu Nov 13, 2008 12:49pm ESTWINONA, Minnesota (Reuters) - The Federal Reserve has taken appropriate action to stem the worst credit crisis in decades, but the situation highlights the urgent need for reforms, a top Fed policy-maker said on Thursday."The Fed has responded to unprecedented times with equally unprecedented actions ... Such actions...
Voice from the Desert (Free subscription) | 01/12/2008
From the Journal News, a Gannett Co. Inc. newspaper serving Westchester, Rockland and Putnam counties in New York, 11.29.2008. * * * Send a message to the bishops Gary Stern’s Nov. 20 article about the silence of the New York Archdiocese regarding the fate of Monsignor Charles Kavanagh is just another in a long line of actions that reflect the total disregard the hierarchy has for common...
Voice from the Desert (Free subscription) | 20/11/2008
From LoHud.com, 11.20.2008. * * * By Gary Stern The Journal News • November 20, 2008 Church officials silent about fate of priest in abuse case Charles Kavanagh (File photo/The Journal News) A former Westchester resident whose accusations of abuse against Monsignor Charles Kavanagh brought down the former chief fundraiser for the Archdiocese of New York is [...]
US News (Free subscription) | 21/11/2008
Ill winds. But Obama may face a trickier economic and political challenge than Reagan did. Here's why: Let's assume the current downturn turns out to be as painful as the 1990-91 recession. Minneapolis Federal Reserve President Gary Stern has likened today's situation to "the head winds environment" following that downturn. Among the "head winds" Stern cited: an imploding real...
Star Tribune (Free subscription) | 19/11/2008
... NEWS SERVICEFederal funds rate might not be cut Federal Reserve Bank of Minneapolis President Gary Stern said he is "not unalterably opposed" to reducing the federal funds rate below 1 percent, while noting that bad news about the economy won't necessarily prompt policy makers to cut rates at their Dec. 16 meeting. "The meeting is still a month away, so we've got another month more...
illinoisreview (Free subscription) | 11/11/2008
... painful as the 1990-91 recession. It's an apt comparison. As Minneapolis Federal Reserve President Gary Stern said earlier this year," The situation we confront today is reminiscent, in several salient ways, of the headwinds environment that prevailed in the aftermath of the 1990-91 recession." Among those "headwinds" Stern referred to: an imploding real estate bubble, a construction...
Cambridge Forecast Group Blog (Free subscription) | 29/10/2008
FEDNOTICE FedNotice October 2008 (v.2) Federal Reserve Bank of Minneapolis on behalf of Diane Wells (dlw@MINNEAPOLISFED.ORG) dlw@minneapolisfed.org Tue 10/28/08 FedNotice Federal Reserve Bank of Minneapolis In This Issue: ——————- Federal Reserve Bank of Minneapolis Gary Stern Speech Board of Governors Testimony Speeches Press Releases Interest Statement S&R and CA Letters Beige Book...
Indian Express (Free subscription) | 23/10/2008
Treasuries rose as a plunge in emerging-market assets and expectations of a worsening global slowdown boosted demand for the safety of government debt.
Boston Globe (Free subscription) | 22/10/2008
... exporters fell after the yen rose against the euro and worries about the global economy deepened.* Gary Stern, a top U.S. Federal Reserve policy-maker, said on Tuesday the current U.S. economic downturn could be worse than the 1990-91 recession, with growth restrained for as long as one to three years.* Apple Inc reported a stronger-than-expected 26 percent rise in quarterly profit,...
Boston Globe (Free subscription) | 22/10/2008
... stocks outside Japan to a nearly four-year low.ECONOMIC GLOOMThe gloom was captured in remarks by Gary Stern, a top Federal Reserve policy maker, who warned that U.S. growth could be restrained for as long as three years."Financial shocks are first and foremost in the financial sector. Whether they are associated with or lead to recessions is an open question," Stern, president...
Business Week (Free subscription) | 21/10/2008
Stocks Set to Dip at OpenTraders were expected to book some profits Tuesday after a rally in the previous session amid a fresh wave of earnings reports Story Tools were indicated to open lower Tuesday as major index futures fell in premarket trading, amid some profit taking before earnings reports. notes that many advisers say equity prices are unusually attractive and many hedge funds, believing the...
