Bloomberg: Fed Focusing on Inflation Expectations

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Fed Focusing on Inflation Expectations
By Caroline Salas and Scott Lanman - May 23, 2011 8:00 AM GMT+0900

The cue for the Federal Reserve to start withdrawing its record monetary stimulus may be a measure of its own credibility: inflation expectations.

Fortune: Sizing up a sweeping mortgage settlement

Sizing up a sweeping mortgage settlement

Mortgage lenders like Bank of America and Wells Fargo are fighting the fight on all fronts, with the latest being False Claims Act violations. Here's what to look for in any settlements.
By Abigail Field, contributor

FORTUNE -- The trouble for America's largest mortgage lenders just keeps mounting. How much will it cost them to make it all go away?

Bloomberg: Home Sales in U.S. Drop, Manufacturing Stalls in Sign Recovery Is Flagging

Related News: U.S. · Economy · Real Estate
Home Sales in U.S. Drop, Manufacturing Stalls in Sign Recovery Is Flagging
By Bob Willis and Shobhana Chandra - May 20, 2011 5:13 AM GMT+0900

Sales of existing U.S. homes unexpectedly declined, manufacturing in the Philadelphia region slowed and consumer confidence dropped, pointing to an economy that is struggling to regain momentum following the surge in energy costs.

Bloomberg: Fed’s Bullard Sees Europe Debt Crisis as Top Risk to U.S. Economic Outlook

Related News: Economy · U.S.
Fed’s Bullard Sees Europe Debt Crisis as Top Risk to U.S. Economic Outlook
By Joshua Zumbrun - May 19, 2011 1:43 AM GMT+0900

Federal Reserve Bank of St. Louis President James Bullard said the European sovereign-debt crisis has surpassed rising oil prices to become the biggest risk to the economic outlook in the U.S.

Bloomberg: Banks Say Simpler Mortgage Form Could ‘Stifle’ New Products

Related News: Finance · Real Estate · U.S. · Personal Finance
Banks Say Simpler Mortgage Form Could ‘Stifle’ New Products
By Carter Dougherty - May 18, 2011 1:00 PM GMT+0900

For Elizabeth Warren, the Obama administration adviser setting up the Consumer Financial Protection Bureau, simpler mortgage paperwork is a “regulatory sweet spot” that will cut lender costs and borrower confusion.

CNBC: China Economic 'Facade' Starts to Show Cracks: Chanos

China Economic 'Facade' Starts to Show Cracks: Chanos
Published: Wednesday, 18 May 2011 | 8:16 AM ET
By: Jeff Cox

China's economy is showing real signs of weakening, particularly in real estate, and even could tip into a recession, hedge fund manager Jim Chanos told CNBC.

WSJ: Moody's Cuts Rating of Four Major Australian Banks

BUSINESS|MAY 18, 2011, 5:20 A.M. ET
Moody's Cuts Rating of Four Major Australian Banks

By GEOFFREY ROGOW And CYNTHIA KOONS

SYDNEY—In a blow to the Australian banking industry, Moody's Investors Service downgraded the debt ratings of the country's four largest banks, citing their dependence on global lending markets.

Bloomberg: Geithner: No ‘Magical Thinking’ to Fix Deficit

Related News: Economy · U.S.
Geithner: No ‘Magical Thinking’ to Fix Deficit
By Ian Katz and Rebecca Christie - May 18, 2011 10:49 AM GMT+0900

U.S. Treasury Secretary Timothy F. Geithner said budget deficits threaten to erode the nation’s economy and security and can’t be reduced with “magical thinking.”

Bloomberg: U.S. Industrial Production Stalls on Auto Disruption; Housing Starts Drop

Related News: Economy · U.S.
U.S. Industrial Production Stalls on Auto Disruption; Housing Starts Drop
By Shobhana Chandra and Bob Willis - May 18, 2011 1:05 AM GMT+0900

Industrial production in the U.S. unexpectedly stalled in April and housing starts dropped, posing hurdles to a rebound from the first quarter’s economic slowdown.

Bloomberg: U.S. Wheat Harvest May Be Worse Than Forecast

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U.S. Wheat Harvest May Be Worse Than Forecast
By Whitney McFerron - May 18, 2011 5:37 AM GMT+0900

Wheat crops in the U.S. Great Plains are showing signs that production may plunge more than the government forecast last week as hot weather and a lack of rain erode plant quality and force farmers to harvest early.