Visa Inc. and MasterCard Inc., which processed $7.4 trillion in purchases last year, are among leading payments networks that devote thousands of words in filings to every perceived threat to their business. “Bitcoin” isn’t one of them.
Janet Yellen saw the U.S. economy “at, if not beyond, the brink of recession” in January 2008, differing from the less gloomy view of Federal Reserve staff, according to transcripts of policy meetings released today.
The U.S. economy may prove more prone to deflation than the Federal Reserve acknowledges and that may present a reason to keep monetary policy loose, according to a model created by Wells Fargo Securities LLC.
President Barack Obama has made reducing economic inequality a central goal of his last term in office. A good start would be to maintain and expand efforts to ensure children aren’t at a disadvantage before they even get to grade school.