China’s broadest economic reforms since the 1990s will add less than half a percentage point to annual growth this decade, a survey showed, underscoring the likelihood of a cut in the nation’s expansion target.
The U.S. has found the secret of delivering tighter fiscal policy and stronger economic growth, exposing Europe’s failure to do the same even as continental policy makers were more vocal in promoting austerity.
Federal Reserve Bank of Boston President Eric Rosengren said big international banks with broker-dealer operations pose risks to financial stability, and regulators need to ensure the firms hold sufficient capital.
Global regulators this week put JPMorgan Chase & Co. and HSBC Holdings Plc at the pinnacle of a list of 29 too-big-to-fail banks that face tougher capital rules than other lenders. The companies were also handed a map to plot their descent.