Tag: President Barack ObamaPresident Barack Obama
All five US financial regulators have approved the Volcker rule, designed to restrict the finance industry in the wake of the 2008-09 financial collapse. Named after former Federal Reserve chairman Paul Volcker, it bans banks from using their own funds for trading activities and it is considered the centerpiece of the 2010 banking reform legislation known as Dodd-Frank.Banks will have until 21 July 2015 to comply with the rules.
The new US ambassador in Brazil Liliana Ayalde said President Barack Obama is prepared to receive his Brazilian peer Dilma Rousseff. The statement comes weeks after a state visit planned for last October was suspended by Dilma in protest over revelations of extensive US spying of Brazilian communications including the mobiles of the Brazilian leader.
The United States secretary of state has said the deal reached on Sunday over Iran's nuclear program will make Israel and the Middle East a safer place. John Kerry was speaking after Iran agreed to curb some of its nuclear activities in return for about 7bn dollars in sanctions relief. However, Israel has described the agreement as a historic mistake.
The United States Senate Banking Committee approved on Thursday Janet Yellen's nomination to become the first woman to lead the Federal Reserve, sending it to the full Senate for a final vote. If she is confirmed, as is widely expected, the current No. 2 at the central bank will replace its chairman, Ben Bernanke, when his term expires on January 31, making her the most powerful woman in world finance.
Janet Yellen, President Obama's choice to lead the Federal Reserve, said the central bank would not stop its stimulus efforts until the labor market improves and inflation rises. The comments came in a statement prepared for her confirmation hearing before the Senate Banking Committee. Thursday's hearing is a chance for Senators to question Ms Yellen.
President Barack Obama has been demoted to second place from Forbes' Most Powerful People list which has named Russia's President Vladimir Putin as the leader of the pack.
The United States monitored the phone conversations of 35 world leaders according to classified documents leaked by fugitive whistleblower Edward Snowden, Britain's Guardian newspaper said.
US Congress has passed a bill to reopen the government and raise the federal debt limit, with hours to spare before the nation risked default. The Democratic-controlled Senate's bipartisan compromise won approval by 81 votes to 18.
The head of the International Monetary Fund, Christine Lagarde, has warned that a US default could tip the world into recession. In a US TV interview she said a default would result in massive disruption the world over.
President Barack Obama has nominated Federal Reserve Vice-Chair Janet Yellen to run the world's most influential central bank and urged the Senate to confirm her without delay. Yellen, an advocate for aggressive action to stimulate US economic growth through low interest rates and large-scale bond purchases, would replace Fed Chairman Ben Bernanke, whose second term ends on January 31.