Steven Donziger, a New York attorney accused of leading a racketeering scheme in an environmental lawsuit against Chevron Corp., hired appellate attorney Deepak Gupta of Washington’s Gupta Beck PLLC to represent him in an anticipated appeal, the firm said on its website.
The Federal Reserve’s balance sheet is poised to exceed $4 trillion, prompting warnings its record easing is inflating asset-price bubbles and drawing renewed lawmaker scrutiny just as Janet Yellen prepares to take charge.
Representative Jeb Hensarling, chairman of the U.S. House committee that oversees the Federal Reserve, said he plans to subject the Fed to unprecedented scrutiny while considering legislation over the coming year that may focus on its structure, mandates and powers.
The longer the Federal Reserve continues its bond-buying stimulus, the higher the odds it will face a year without any money to give the U.S. Treasury after taxpayers received a record $88.4 billion profit in 2012.
A 2010 global agreement that gives emerging markets such as China a bigger say at the International Monetary Fund may be sent to Congress next month for approval needed to take effect, a lawmaker with an oversight role said.
The International Monetary Fund’s Christine Lagarde used the word “challenging” to describe the Cyprus rescue to which she pledged $1.3 billion. She might say the same about where the IMF stands with the U.S. Congress.
The Federal Reserve can avoid unprecedented losses by never selling mortgage-backed securities from its record $3.84 trillion balance sheet, according to updated estimates by Fed economists in Washington.