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 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.
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.
A sell-off on Friday drove Dow down 154 points, as traders took stock of postponed debt payment at conglomerate Dubai World.
Though problems remain for housing and jobs, the Fed's Open Market Committee sees further improvement in financial markets in recent weeks.
The Fed chairman, who is all over the TV news shows this week, may be angling for reappointment in January.
CIT is one of America’s largest lenders to small businesses. It also made many subprime mortgage loans and is now seeking US assistance.
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.
Fed chief proposes a super-regulator to police and correct US financial system.