President Joe Biden recently nominated Cook to join the Board of Governors of the Federal Reserve. If she is confirmed, she will be the first Black woman to serve on the board since its creation 108 years ago.
University of California professor Raphael Bostic has made history Monday as the first African-American president of one of the Federal Reserve's 12 regional banks.
Federal Reserve Chairman Ben Bernanke said Wednesday that the U.S. economy’s growth rate will pick up over the rest of 2011, to nearly 3 percent, according to projections presented to Congress. Bernanke says employment was significantly improved by the recent round of quantitative easing which injected another $600 billion dollars into the financial system, which […]
Today, President-Elect Barack Obama announced the establishment of the President's Economic Recovery Advisory Board. The Economic Recovery Advisory Board will provide regular briefings to the President, Vice-President and their economic team.
Wall Street had another astounding advance Tuesday, with the Dow Jones industrials soaring nearly 900 points in their second-largest point gain ever as late-day bargain hunters stormed into the market. The Dow and the Standard & Poor’s 500 index were each up nearly 11 percent.
Wild gyrations on Wall Street, a loss of confidence in the U.S. banking system and worries the economy will be weak for some time are raising Americans’ anxiety level.
