Today’s Headlines…

Today’s Headlines…

Gold Prices Ease
Wall Street Journal
By RHIANNON HOYLE LONDON—The spot price of gold was marginally lower ahead of the end of the US Federal Reserve’s policy committee meeting. Although no rate change is expected, investors will be looking for clues to future changes in monetary policy …

JGBs mostly flat after Greece vote, Fed meeting eyed
Reuters
In thin trade ahead of a Federal Reserve policy meeting, the prospect of continued easy monetary policy in Japan and the United States supported demand for shorter term bonds. September 10-year JGB futures were 0.02 point lower at 141.13 2JGBv1, …

QE 2 Proves No Silver Bullet
Wall Street Journal
By JON HILSENRATH Federal Reserve officials have been warning for months that the controversial $600 billion bond-buying program they initiated last year wouldn’t be a panacea for an ailing US economy. That’s one forecast they seem to have gotten right …

UPDATE 3-Oil retreats on caution ahead of Fed meeting
Reuters
By Simon Falush June 22 (Reuters) – Oil fell on Wednesday, with investors cautious ahead of a US Federal Reserve meeting, and on lingering anxiety over the state of the euro zone, while gains in the dollar also weighed. Brent crude for August LCOc1 …

Fed Sets Vote on Debit-Card Fee Curbs
Wall Street Journal
By MAYA JACKSON-RANDALL WASHINGTON—The Federal Reserve next week is scheduled to vote on its final plan to regulate debit-card processing fees, giving banks and credit unions their first look at new fee curbs set to take effect next month. …

NY fed won’t reveal missing Iraq billions
Politico
By REID J. EPSTEIN | 6/22/11 7:22 AM EDT The Federal Reserve Bank of New York is refusing to tell US government investigators how much money it sent to Iraq during the first years of the American invasion, as a top Iraqi official suggested the missing …

Newt Gingrich Turns Against the Federal Reserve
The Atlantic
When Newt Gingrich addresses the Atlanta Press Club Wednesday, here is what he’s going to say: that the Federal Reserve should be audited, and that it should be stripped of its banking powers so that it is focused entirely on protecting the value of …

The Atlantic
Commentary: Wall Street made out, Main Street largely missed out
MarketWatch
By Brett Arends, MarketWatch BOSTON (MarketWatch) — The Federal Reserve’s $600 billion program of “quantitative easing” has been great for Wall Street. The flood of cheap money has helped the big banks rake in profits hand over fist. …

Business news briefs
Pittsburgh Post Gazette
Federal Home Loan Bank of Pittsburgh chief financial officer Kristina Williams is now serving a dual role as chief operating officer. Ms. Williams joined the bank as chief accounting officer in 2004, became CFO in 2006 and was promoted to executive …

Pa. budget negotiations close to wrapping up
BusinessWeek
Tom Corbett’s signature, officials said Monday. A spending plan for the fiscal year beginning July 1 is in the final stages of negotiations and will be less than the $27.3 billion Corbett proposed in March, said Senate Appropriations Committee Chairman …

6/21 Budget Rundown
PoliticsPA
Whether or not a reasonable Marcellus shale tax will be approved by Corbett is still up in the air. Here are the biggest budget headlines from the past day. State workers marched in protest outside of the Governor’s Harrisburg residence chanting “We’re …

OCC’s Walsh Says Strict Capital Regulations May Curtail Lending
Bloomberg
By Meera Louis – Tue Jun 21 19:30:04 GMT 2011 John Walsh, acting US comptroller of the currency, said “overly stringent” capital and liquidity requirements on banks risks pushing lending to less-regulated markets. “We have to be able to figure out how …

Banking Picks to Play the Durbin Amendment
Barron’s
We are awaiting a final ruling from the Federal Reserve as the Durbin Amendment is set to go into effect on July 21. We are likely to get the ruling by the end of the month and could be as early as this week. We would expect that the Fed will likely …