Thursday, August 23, 2012

Fed closer to action amid weak economic signals

Welcome to the morning roundup. Here's a look at today's banking and finance headlines. 

Weak signals. New jobless claims unexpectedly rose last week, and U.S. manufacturing remained weak, new data show, suggesting the nation's economic troubles persist, Reuters reports. Meanwhile, stocks were set to slip at the open today.

Fed closer to action. Minutes from the Federal Reserve's recent policy meeting suggest it is close to taking action to bolster the economic recovery, the Wall Street Journal reports. High on the list of options: a new round of quantitative easing. 

Housing improving. Despite sluggish economic growth overall, purchases of new homes in the U.S. probably rose in July, Bloomberg reports. The increase, the third in four months, suggests the industry is recovering. 

Investment bank fined. A regulator fined Rodman & Renshaw for violating rules about the use of analysts to seek investment banking business, the New York Times reports. The bank's former chief compliance officer and two former analysts were fined by Finra and suspended from the securities industry.


NCdirtdigger said...

Oh boy, more devaluing of our currency! What could possibly go wrong?