Robert Kaiser, author of "Act of Congress," says the biggest change in U.S. politics has been the transformation of the Republican Party. Kaiser talks with Bloomberg's Tom Keene and Michael McKee on Bloomberg Radio's "Bloomberg Surveillance."
Federal Reserve Chairman Ben S. Bernanke and his fellow policy makers, expressing concern that federal budget cuts are blunting the recovery, signaled little appetite for reducing record stimulus without what he called “real and sustainable” progress in reducing unemployment.
Federal Reserve Chairman Ben S. Bernanke defended the central bank’s record stimulus program under questioning from lawmakers, telling them that ending it prematurely would endanger a recovery hampered by high unemployment and government spending cuts.
Federal Reserve Bank of New York President William C. Dudley said policy makers will know in three to four months whether the economy is healthy enough to overcome federal budget cuts and allow the central bank to begin reducing record stimulus.
Investors may still find value in speculative-grade corporate bonds paying record-low yields as a falling default rate curbs the risk of losses, according to Margie Patel, a money manager at Wells Capital Management Inc.
The gap in yields between benchmark Treasuries and company debt leaves room for investors to earn returns in fixed income, according to David Leduc, chief investment officer at Standish Mellon Asset Management Co.
The U.S. Supreme Court bolstered the authority of federal administrative agencies, upholding Federal Communications Commission deadlines for local zoning authorities considering applications for new wireless facilities.
Arthur Levitt, former chairman of the Securities and Exchange Commission, says SAC Capital Advisors's Steven Cohen will invoke his Fifth Amendment right against self-incrimination when he appears before a grand jury investigating insider trading practices. Levitt talks with Bloomberg's Tom Keene and Michael McKee on Bloomberg Radio's "Bloomberg Surveillance."