Has the Fed Fueled Bubbles Under Low Rates
Washington worries the Fed's ultra low rates have inflated asset bubbles across stocks houses farmland Bitcoins and rare whisky. Critics argue markets soar while supporters credit policy with stimulating a modest rebound. Since the bond-buying program began stocks rose sharply with large international gains.
MENTIONED IN THIS ARTICLE
Washington, D.C
Federal Reserve
California
Ben Bernanke
Fed
United States
Germany
DAX
Japan
Congress targets federal workers pension cuts
Lawmakers aim for pension savings in a bipartisan budget deal. Beginning in January new federal hires will contribute 4.4 percent of pay while current workers stay the same. Those hired in 2013 pay 3.1 percent and pre-2013 staff 0.8 percent. Critics call it a hardship on working class federal employees.
MENTIONED IN THIS ARTICLE
Washington, D.C
Congress
House
Senate Democrat calls budget bill a breakthrough
Senate Democrats expect the $85 billion budget measure to clear the chamber this week with at least four Republicans voting yes. Chuck Schumer says Obama will get the bill before holidays while unemployment benefits will be addressed in a separate measure. He credits leadership from Mitch McConnell and calls the House bill a breakthrough after gridlock.
MENTIONED IN THIS ARTICLE
Washington, D.C
Senate
New York
Chuck Schumer
Barack Obama
Schumer
MSNBC
Mitch McConnell
Kentucky
Congress
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American Federation For Government Employees
Veterans Affairs
Chris van Hollen
D-Md
House Budget Committee
Capitol Hill
Southpoint
Noah Zook
Southpoint Construction.net
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