The Federal Reserve has announced a plan to drive long-term interest rates even lower. But with borrowers still too cautious to take on additional debt, will the move have a positive effect? Some experts say they're not holding their breath. "The Fed can only do so much," one analyst says.
Under President Reagan, capital gains were taxed at a higher rate than earned income. Since then, the situation has reversed, and unearned income, the province of the very rich, is taxed at a significantly lower rate than most workers' wages. Polls show the public supports changing this. Will Congress?
Federal Reserve Chairman Ben Bernanke has been criticized recently by Republican presidential candidates who called for his firing and an audit of the central bank. Low opinions of the Fed come from a long history of criticism of its power and secrecy, extending back to Thomas Jefferson.
The Federal Reserve announced Wednesday it will indeed be "twisting" its portfolio in a bid to drive down long-term interest rates. Fed policymakers also announced steps to support the mortgage market.
The annual meeting of the Congressional Black Caucus kicks off Wednesday in Washington, D.C. Michel Martin speaks with CBC Chairman Rep. Emanuel Cleaver (D-MO) about African-Americans' 16.7 percent unemployment rate and why the CBC has not been more aggressive in criticizing President Obama.
International lenders return to Athens next week to discuss the next installment of a vital $150 billion bailout. Otherwise, Greece will go broke and default on its debt. Meanwhile, there's growing resentment among Greeks toward their EU partners and many think default is not such a bad idea.
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