Reuters - President Barack Obama plans to nominate San Francisco Federal Reserve Bank President Janet Yellen, a respected policy dove, to be vice chairman of the central bank, a source familiar with the process said on Thursday.
AP - President Barack Obama is planning to nominate Janet Yellen, president of the Federal Reserve Bank of San Francisco, to take over as vice chairman of central bank in Washington, The Wall Street Journal reported.
Reuters - White House economic adviser Larry Summers said on Thursday that the United States is "very close" to the point where job growth can begin. (Reporting by Chris Baltimore; editing by Carol Bishopric)
AP - Regulators on Thursday shut down LibertyPointe Bank in New York City, boosting to 27 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession.
AP - The Obama administration accused China on Thursday of abusing its citizens' rights and maintaining currency policies that cost millions of U.S. jobs, a double-barrel attack that comes amid a growing willingness to confront and even antagonize the Asian power.
AP - Americans are recovering their shrunken wealth — gradually. Household net worth rose last quarter, mainly because the healing economy boosted stock portfolios. But the gain was slight. And it was less than in the previous two quarters.
AP - U.S. exports dipped in January, the government said Thursday, but economists weren't fazed. They predict export growth will be a bright spot for American manufacturers through the rest of 2010.
Reuters - President Barack Obama on Thursday faced pressure to help create jobs in African-American communities and deliver an immigration overhaul even as he tried to push healthcare reform across the finish line.
AFP - American household wealth jumped in 2009 for the first time since a brutal recession struck the country, underscoring the impact of an economic recovery, data from the central bank showed Thursday.
Reuters - Many states have used funds from the $863 billion U.S. economic stimulus plan to help give a rising number of poor families emergency cash assistance, the Government Accountability Office said on Thursday.
AP - Banks borrowed less from the Federal Reserve's emergency lending program over the past week, providing further evidence that the strains caused by the financial crisis are easing.
AP - The frugality of the recession eased in the 2009 pay package for AT&T Inc. CEO Randall Stephenson, who resumed taking a bonus and saw his compensation rise by one-third to $20.2 million, according to Associated Press calculations on a regulatory filing Thursday.
Reuters - Citigroup Inc Chief Executive Vikram Pandit told investors on Thursday the bank is on track to return to sustained profitability and losses from some of its worst assets should be manageable if the economy does not deteriorate.
AP - Drinks company Fomento Economico Mexicano SAB said Wednesday its bottler, Coca-Cola FEMSA, plans to change its bylaws so a simple majority of its board can appoint and set compensation of the CEO and people who report directly to him or her.
AFP - President Barack Obama put into action Thursday an ambitious strategy to double US exports by prising open lucrative emerging markets in a bid to ease unemployment amid fragile economic recovery.
AP - TRADE GAP: The U.S. trade deficit narrowed to $37.3 billion in January, a decline of 6.6 percent from December, reflecting a big drop in imports as shipments of foreign oil and autos both declined.
Reuters - President Barack Obama, anxious to spur growth and cut high unemployment, laid out a plan on Thursday to double U.S. exports through tougher enforcement of trade laws, increased government advocacy and more credit assistance for small and medium-sized companies.
Reuters - Lingering U.S. labor market weakness and nagging doubts about the solidity of the economic recovery are expected to keep the Federal Reserve committed to holding borrowing costs very low for a long time at a monetary policy meeting next week.
Reuters - The appetite and sense of urgency for world financial reform have waned as markets have rebounded and the world economy has shown signs of recovering, the head of exchange operator NYSE Euronext said on Thursday.