In his most detailed examination of the causes of the financial crisis, however, the former Fed chairman says the policy of low interest rates was not to blame.
Alan Greenspan on Friday will offer his most sophisticated defence so far of his role as chairman of the Federal Reserve in the build up to the 2008 financial meltdown, hitting back at claims that the Fed s low short-term interest rates were the cause of the US housing bubble.
Treasury s Debt-Issuance Man to Leave Karthik Ramanathan, who has overseen the issuance of more than $8 trillion in U.S. debt over the past year, plans to leave the Treasury Department at the end of March.
Hartford Financial Services Group Inc. announced pricing Thursday for $1.1 billion in senior debt it will offer as part of a plan to repay $3.4 billion it received from the federal financial bailout.
Banks borrowed less from the Federal Reserve s emergency lending program over the past week in a further sign that the strains from the financial crisis are fading.
U.S. stocks are likely to suffer a correction in the second quarter as anxiety about the Federal Reserve s exit strategy sparks caution, Barclays Capital said on Thursday.
* Fed officials: bank oversight loss harmful * Fed s Hoenig: Makes us central bank of Wall Street * Fed s Duke says Fed shouldn t focus only on big banks
The U.S. Federal Reserve s balance sheet rose to a record high in the latest week, Fed data released on Thursday showed, on the back of the central bank s soon-to-end mortgage support program.
Foreign central banks holdings of U.S. Treasuries and agency debt at the Federal Reserve rose in the latest week, data from the U.S. central bank showed on Thursday.
A task force eyeing ways to boost teacher effectiveness in the Los Angeles school district is recommending aggressive changes in the way teachers are evaluated, paid, hired and fired.
Imagine if a computer could identify the weakest-link teachers a " the ones who should be told it's time to get out of the classroom.It's not quite so simple, but a new policy in Houston allows teachers to be fired based on data that some experts say isolates a teacher's effect on his or her students' test-score gains.Reform advocates say school districts should improve teacher quality in part by using such "value added" data. Dozens of districts, including Houston's, have already incorporated the concept into "pay for performance" systems. Education leaders in New York City and the District of Columbia are moving toward linking it to tenure or dismissals. But none has gone ahead as boldly as the Texas district.
