The Federal Reserve, the institution tasked with guarding the economy against inflation and financial instability, has long made headlines for its words as well as its actions. An utterance from the chairman can help reassure financial markets or raise concerns about the economy. Now the central bank is moving to explain itself more openly in its first-ever formalized press conferences, so the opportunity for Fed officials to make market-moving pronouncements may increase. Here's a look at some moments when a Fed chairman has made waves with his words.
Ron Paul, the Texas congressman who is expected to announce an official "exploratory committee" for a presidential run Tuesday, is known for his passionate espousal of free markets and sound money. To supporters, Congressman Paul has stood as a lone voice of reason in Congress, wiser than Wall Street. Critics see his views on issues like reviving a gold standard or ending the Federal Reserve as simplistic and more dangerous than the ills he hopes to cure. Here are his own words on key economic issues:
The NBA playoffs are well underway. It started with 16 teams, trying to stay in the game over a two-month stretch to earn the title 'NBA Champions.' However, there are a handful of teams that have established themselves as the cream of the pro-basketball crop, having won multiple NBA titles since 1947.
Thousands of teachers are being notified this spring that their jobs are in jeopardy – and many of those layoffs may actually occur, given the severe budget crises affecting state and local governments. The result is renewed scrutiny of the seniority rules that govern layoffs in many states. Just in the past month, Florida has done away with such rules, and Georgia is on its way.
Prince William and Kate Middleton have invited 1,900 people to join them when they tie the knot Friday at Westminster Abbey. Much of the invite list is dictated by tradition and diplomacy, but 1,000 attendees were also invited as "friends and family." Here's a look at some notables on the list, from Grammy-winners to representatives criticized by the international community for violating human rights.
If Western audiences are inspired by the film "Shawshank Redemption" about a solo prison escape, then Taliban sympathizers must surely be heartened by today's spectacular escape of some 500 inmates from a Kandahar prison through a 1,180-foot-long tunnel. But while character Andy Dufresne had to dig out of Shawshank prison without any assistance, the Taliban prisoners are suspected of having help from guards. This is not the first jail break that has set back the US wars in Afghanistan and Iraq, nor is it even the first escape from this specific prison. Here's a short list of recent prison breaks (and one near-escape) in Iraq and Afghanistan.
An Egyptian court on April 21 ordered the physical removal of the Mubarak family name from all public places, formalizing a process that protesters began months ago. With Hosni Mubarak's name and face plastered on everything from street signs to stadiums to train stations, it will take a long time for the state to fully remove his mark. Here are a few of places to be scrubbed of the Mubarak moniker:
Gary Johnson, who has already scaled Mt. Everest, has chosen the presidency as his next summit. The former New Mexico governor declared his candidacy on April 21 in New Hampshire. "America needs a ‘President Veto’ right now – someone who will say no to insane spending and stop the madness that has become Washington," he said in a statement. A libertarian-leaning, tee-totaling triathlete often dubbed “the next Ron Paul,” Mr. Johnson is a maverick whose liberal views on marijuana might smoke his White House bid.
Maundy Thursday commemorates the Last Supper of Jesus Christ with the Apostles, falling every year on the day before Good Friday. While the Roman Catholic Church calls it "Holy Thursday," the Anglican Church uses the name "Maundy Thursday" in accordance with the Old English phrasing of Jesus' commandment that humans should love one another. Here are ways that five European nations celebrate the Christian holiday, starting in Britain with Queen Elizabeth.
Michel “Sweet Mickey” Martelly has officially – and finally – been proclaimed president-elect of Haiti, and he is savoring his success – in the United States. His victory tour began Tuesday in Washington, where he is meeting with Secretary of State Hillary Rodham Clinton, along with officials from the World Bank and the International Monetary Fund. Mr. Martelly was finally declared the official winner of the election late last night, more than two weeks after officials from Haiti's Provisional Electoral Council (CEP) announced he had edged out former first lady Mirlande Manigat in a runoff with over 67 percent of the vote. The wait has been long for Haitians, who first went to the polls last November to elect a president, along with a parliament, carrying high expectations that a new leader could end the long nightmare they have endured since the Jan. 12, 2010 earthquake that ravaged their country – and even before. The battered country’s future is now in the hands of the 50-year-old Martelly, a popular singer with little political experience, but who led an impressive campaign. Martlelly will now have the following five immediate tasks to address:
Technology's riff on the American dream runs something like this: Young people hang out in a garage, create a world-beating technology, and build a wildly successful company. It doesn't usually happen that way, of course. That last part about building a successful business is especially hard work that requires specific business skills that technology entrepreneurs often lack. Fortunately, there are thousands of books on the subject that can help garage entrepreneurs make the leap to successful executive. As someone who has been working in family businesses, starting and growing my own businesses, or teaching entrepreneurs for most of the past 40 years, I've read hundreds of these books – and written six of my own. Here are my picks for the Top 5 books every entrepreneur should own:
In the run-up to military operations over Libya, and since, NATO and the West have been criticized for acting immorally, if not illegally, with an eye to seizing control of Libya’s oil riches. Muammar Qaddafi recently wrote to President Obama blaming NATO for an “unjust war against a small people of a developing country.” Others, including Russian Prime Minister Vladimir Putin, have even gone so far as to equate the Western alliance’s actions as a modern “crusade.” The following four points from Brooke Smith-Windsor of the NATO Defense College in Rome show that nothing could be farther from the truth.
The storm system that swept out of the Great Plains and through the Southeast over the weekend, spawning tornadoes and severe winds that officials say have killed at least 43 people, serves as a sharp reminder to review the tornado to-do list. Some regions see more – and stronger – tornadoes than others, but no state has remained tornado-free. Here are six items severe-weather experts advise putting on your tornado-emergency checklist – along with four tornado-response myths to ignore.
Monday's Boston Marathon was one for the record books. Geoffrey Mutai of Kenya ran the fastest marathon ever to win the men's division with a time of 2 hours, 3 minutes, and 2 seconds. Kenya's Caroline Kilel beat American Desiree Davila by two seconds to win the women's division with a time of 2:22:36. Japanese Masazumi Soejima won the men's wheelchair division in a time of 1:18:50, with nine-time defending champion Ernst Van Dyke finishing third one second behind. Another Japanese, Wakako Tsuchida, won the women's wheelchair division. Here are five of the most memorable moments from the marathon's 115-year history.
The Internal Revenue Service has taken on a gentler demeanor in recent years, but let's face it: The IRS still wants you to pay what you owe, and to pay it on time. This year, on time means April 18, due to a calendar quirk involving the District of Columbia's celebration of Emancipation Day. State deadlines may vary. Here are nine tips that tax experts (and the friendly Internal Revenue Service itself) offer to help keep you from getting audited, owing a penalty, paying more than you really owe, or having to file an amended return because of a mistake:
Saturday is Record Store Day, an occasion to give thanks to the socially challenged luddites and misfits who are bravely and somewhat foolishly keeping the big 12-inchers alive and rotating from coast to coast! Huzzah! And Gabba Gabba Hey, y'all! I confess without shame that, many years ago as an art student, I spent most of my tuition money at one such hot, dusty vinyl den, Aron Records on Melrose Ave. in Hollywood, Calif. It was in Aron's burgeoning bins of advance DJ copies (50 cents each) that I discovered a young, wildly talented Elton John, stumbled upon the great Ry Cooder and the criminally underrated Little Feat, fell hard for Dusty Springfield, and built my voluminous Monk collection. And that was just my first semester. As you might imagine, I've unearthed a few treasures over the years at Aron, Rhino Records, and other favorite haunts. Here are five gems that you'll never see warping in the sun at a garage sale at my house.
Thanks to improved job opportunities, this year’s crop of college graduates won’t have to hit the pavement quite as hard as their counterparts did in the past few years. Their spring job outlook is the best it’s been since 2007, with employers planning to hire 10 to 20 percent more new graduates this year than they did last year, according to two recent surveys. Here’s a breakdown of hiring and salary prospects for various industries, college majors, and skill sets:
Last year, these five metropolitan areas were struggling economically with unemployment above the national average. By February 2011, however, they were among the fastest recovering cities in the United States, most of them with unemployment rates below the national average of 9.5 percent. Here’s a look at these Top 5 fast-recovery cities:
The BRICS countries, five nations grouped together because of their burgeoning economies, are in the spotlight this week as their leaders meet in China. Made up of Brazil, Russia, India, China and, as of this week, South Africa, the BRICS countries are grouped together because while they are not yet economic powerhouses, they have the potential to become the world’s most dominant economies in the next few decades.