Politico – Federal Reserve Chairman Ben Bernanke met privately last week with House Oversight and Government Reform Committee Chairman Darrell Issa and other lawmakers to discuss the central bank’s efforts to stimulate the economy and how it could exit this strategy in the future, according to people who attended the meeting.
The meeting followed a letter that Issa (R-Calif.) and Rep. Jim Jordan (R-Ohio) sent Bernanke in April expressing dismay that the Fed was not providing lawmakers with more information about how in the future it plans to wind down its bond portfolio, which has grown to more than $3.3 trillion as a result of the Fed’s efforts to boost economic growth.
Exclusive: EU wants to exclude utilities from U.S. trade talks. Little sign Prime Minister Shinzo Abe can shake up Japan’s inbound FDI. Syria’s Assad Says Peace Talks Likely to Fail
Townhall Finance – The familiar saying used to be, “I can afford it, but I don’t want it.” Conversely, now it’s “I want it, but I can’t afford it.”
Over the past few days, I’ve been studying both liberal and conservative columnists who have been analyzing the reasons for the pathetic so-called job recovery. If one were to only look at the stock market, a claim could be made that the recovery is in full bloom — of course that’s the White House spin. However, all the aforementioned pundits have been trying to figure out why the reality of job growth doesn’t measure up with the fantasy of the stock market.
If you listen to the National Association of Home Builders (NAHB), as most in the media do, you would believe there is a lack of qualified workers. Other industries would echo that tune while also proclaiming that job skills diminish the longer a person is out of work, thus further reducing one’s qualifications. This fact was recently reinforced by a very good friend of mine, Sam. He’s a thirty-year carpenter who’s been out of taxable and measurable work for well over a year. In fact, he even told me he’s having a very tough time determining which end of the hammer to use. However, according to Sam, the underground economy seems to be alive and well. More
Greece to sell Postbank, Proton in July, stress-test big banks. Bank of England’s King sends message to successor Carney. BoE governor King warns of euro risk to British recovery
‘Love has won out over hate’: France becomes 14th country to allow gay marriage. Obama budget would cut U.S. deficit by $1.1 trillion over decade: CBO. Lawmakers Accuse IRS Officials of Lying in Tax Scandal
IRS officials testify at House hearing
Google’s Schmidt to meet Britain’s Cameron as tax row rages
Russia Raises Stakes in Syria
Incoming IRS chief asked to conduct “thorough review” of agency. Two states say 2014 Obamacare insurance costs on low side. Obama budget would cut U.S. deficit by $1.1 trillion over decade: CBO
‘The Office’ finale draws season high of 5.7 million viewers. IRS disciplines 2 in probe into conservative targeting. Broadcast TV ratings slide pressures ad rates at “upfronts”
The proposed law would force Tesla to either adopt the traditional dealer model or not sell cars in that state.
New York Post – Google, the highest-priced stock in the S&P 500 Index, closed above $900 a share yesterday for the first time.
The company is in the midst of an impressive rally, and yesterday Morgan Stanley analysts were among the bulls, upping the target price to $996, from $932.
Also yesterday, investors anticipated another slate of new products and services at Google’s I/O developers conference in San Francisco this week. More