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Bernanke defends Fed role on smaller bank oversight
Reuters - Federal Reserve Chairman Ben Bernanke on Wednesday defended the central bank's supervision of smaller banks, which it would lose in regulatory reform proposals, in a hearing before a congressional panel.
Iceland's central bank cuts rates despite Icesave worries
Reuters - Iceland's central bank cut interest rates by 50 basis points on Wednesday to ease pressure on the stricken economy, despite uncertainty over international aid due to a row with Britain and the Netherlands.
Ahead of the Bell: Producer Prices
AP - Economists expect that wholesale prices fell in February, reflecting declines in both energy and food costs.
Fed boss to make case to keep all banking duties
AP - Federal Reserve Chairman Ben Bernanke will make the case to Congress that the Fed should retain supervision of smaller banks.
Bernanke defends Fed's small bank supervision role
Reuters - Federal Reserve Chairman Ben Bernanke on Wednesday fought back against a plan to strip the Fed of its oversight of smaller banks, saying the knowledge it gains from that role is vital to monetary policy.
Producer prices post biggest drop in 7 months
Reuters - Producer prices fell more steeply than expected in February as energy costs tumbled, giving the Federal Reserve leeway to hold interest rates exceptionally low for an extended period as it has promised.
Fed defends watchdog role
AFP - Federal Reserve chairman Ben Bernanke will call for his central bank to keep broad regulatory powers when he faces lawmakers later Wednesday, amid a fierce debate over how to police Wall Street.
Obama says U.S., Ireland see economic stabilization
Reuters - President Barack Obama said on Wednesday that he and Irish Prime Minister Brian Cowen see signs of economic stabilization on both sides of the Atlantic but more work is needed for job creation.
Fannie Mae slashes mortgage investment forecast
Reuters - Fannie Mae, the largest provider of U.S. residential funding, on Wednesday slashed its forecast for residential investment this quarter following a 'setback' in home sales, and warned on its impact on the economic recovery.
Regulators to U.S. banks: tighten up on funding
Reuters - The Federal Reserve and other banking regulators jointly reminded financial institutions on Wednesday about the importance of managing their liquidity to avoid a repeat of the financial crisis.
US, Pakistan to host talks on economy, security next week
AFP - Secretary of State Hillary Clinton and her Pakistani counterpart will lead talks here next week aimed at boosting the economy and security of Pakistan, a key ally in the fight against extremism.
US eyes Indonesia trade surge but presses reform
AFP - The United States sees vast potential to expand trade with Indonesia but Jakarta needs to undertake economic reforms, a top official said Wednesday ahead of President Barack Obama's visit.
US, India ink deal to tap 'limitless' trade potential
AFP - The United States and India launched a new blitz to boost economic, trade and financial cooperation on Wednesday, the latest sign of deepening ties between the two economic giants.
Parsing the Fed's Statement: Experts Weigh In
The Motley Fool - Surprise, surprise. As expected, the Federal Reserve on Tuesday held short-term interest rates unchanged at historic lows and maintained that it will keep rates low for an extended period of time. The central bank also reiterated its pledge to stop buying mortgage-backed securities at the end of this month. However, the Fed did upgrade its assessment of the economy.
US hails debt cancellation for Afghanistan
AFP - The United States Wednesday welcomed a decision by Paris Club creditors to cancel Afghanistan's debt owed to members as 'a crucial step' toward economic sustainability.
Summary Box: Fed boss wants to retain bank duties
AP - MAKING THE CASE: Federal Reserve Chairman Ben Bernanke urged Congress to let the Fed keep all of its banking supervision. He argued that information gleaned from that process helps the Fed guide the economy.
Fed's Bernanke sees U.S. backing Fannie, Freddie debt
Reuters - Current Fannie Mae and Freddie Mac mortgage-backed securities are likely to retain U.S. government backing should Congress create a new system for financing U.S. homes, Federal Reserve Board Chairman Ben Bernanke said on Wednesday.
BofA CEO says the bank 'missed the mark'
AP - Bank of America CEO Brian Moynihan says in a letter to shareholders that the company 'missed the mark' during the credit crisis and recession.
U.S. hopes Obama trip will boost trade with Indonesia
Reuters - The United States hopes President Barack Obama's visit next week to Indonesia will help spur reforms that boost trade with Southeast Asia's largest economy and the world's fourth most populous nation.
Producer prices fall on lower energy costs
Reuters - U.S. producer prices in February posted their biggest fall in seven months as energy costs tumbled, validating the Federal Reserve's decision to hold interest rates very low on evidence of tame inflation.
Bernanke defends Fed small bank supervision role
Reuters - Top central bankers present and past on Wednesday joined forces against a plan to strip the Fed of its oversight of smaller banks, saying the knowledge it gains from that role is vital to monetary policy.
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