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Fed's interest-rate move wows Dow, but is also sign of plodding recovery

The Dow recovered almost 430 points Tuesday, after the Fed said it would keep short-term interest rates low until mid-2013. But the Fed's surprise move also points to expectations for slow recovery.
Wall Street, wary but expectant, awaits debt ceiling deal from D.C.

The markets are counting on Washington to raise national debt ceiling by Aug. 2, but that's not all. Wall Street also expects a deal that cuts the size of US budget deficit. How much is it looking for?
Why Wall Street isn’t worried about a government shutdown

Wall Street insiders aren't worried the government might hang an 'out to lunch' sign. The market improved during the 1995 government shutdowns. Of greater concern: raising the debt ceiling.
Goldman Sachs under fire: Is Wall Street cheering or cowering?

On Wall Street, Goldman Sachs is admired to a certain extent for its ability to generate profits. But the firm is also resented for a certain swagger.
Bernanke confirmation runs into resistance in Senate

Some key lawmakers in the Senate are saying they will vote against the Bernanke confirmation. The Fed chairman’s term expires at the end of this month.
Obama proposes fee on big banks. But who would really pay?

The bankers should pay, Obama says. But some think the money would come out of shareholders’ pockets, and others say the big banks would pass it along to consumers and businesses.
The New Economy
Fed Beige Book: Economy tipping toward growth

In its Beige Book, the Fed sees US economy making 'modest improvements.'
Stocks rally on Fed's word that the economy is leveling off

Though problems remain for housing and jobs, the Fed's Open Market Committee sees further improvement in financial markets in recent weeks.
Bernanke defends bailouts – and himself

The Fed chairman, who is all over the TV news shows this week, may be angling for reappointment in January.
Is US poised to bail out another financial institution?

CIT is one of America’s largest lenders to small businesses. It also made many subprime mortgage loans and is now seeking US assistance.
Key change in accounting may boost banks' balance sheets

Under the new ‘mark-to-market’ rule, banks can consider the value of assets as if they are being sold in an orderly fashion, not in a distress sale.
Bernanke’s plan to tame Wall Street

Fed chief proposes a super-regulator to police and correct US financial system.
Why US keeps backstopping a flattened AIG

It pledges $30 billion more, amid insurance giant’s record losses.
Why banks still teeter, after $232 billion in aid

Losses on mortgage debt, followed by recession woes such as corporate bankruptcies and rising defaults on credit cards, delivered a one-two punch.
US unveils new $800 billion plan to loosen credit

The money will go to unfreeze mortgage and consumer lending.
A scramble to unlock bank lending

US regulators are cranking out an array of options.
Postcrisis economy: calmer but slower

With no investment banks and tighter regulation, experts see a less dynamic recovery ahead.
Will Fed begin to raise rates soon?

The Federal Reserve is expected to signal whether inflation is its top concern.
Are Fed rate cuts nearly over?

After a potential cut Wednesday, the central bank may pause to assess the economy.
Fed cuts interest rates, but lenders still wary

Despite a 3/4-point rate cut Tuesday, mortgages are costlier than a month ago.
Paulson outlines fix-it plan for credit crisis

Treasury secretary calls for tighter reins on financial markets as mortgage turmoil continues.
Fed's bold $200 billion move

The central bank's unusual cash infusion aims to keep banks lending.