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Tax Reform in This Election Year: It's Not Likely
Which Credit Card Rewards Does the IRS Care About?New York Fed posts
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While many want to believe that the economy is turning around, the New York Federal Reserve Bank did little to convince the doubters. During September, the Empire State Index dropped to 4.1 from August's reading of 7.1. This was far short of expectations, as well as the lowest level since July 2009. Continue reading Fed's New York Factory Gauge Falls in September
Stephen Friedman, chairman of the Federal Reserve Bank of New York, stepped down from his post late Thursday. The 71-year-old came under fire when a regulatory filing revealed that he upped his stake in Goldman Sachs Group (NYSE: GS) during late 2008, when the bank holding company was under the New York Fed's supervision.
"Today, although I have been in compliance with the rules, my public service motivated continuation on the Reserve Bank Board is being mischaracterized as improper," wrote Friedman in his letter of resignation. "The Federal Reserve System has important work to do and does not need this distraction."
Continue reading NY Fed chair steps down amid Goldman Sachs stock uproar
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