Today’s News…

Today’s News…

As Fed meets amid soft patch, economists eye second half
USA Today
That problem is sure to weigh on the mind of Fed Chairman Ben Bernanke as the Federal Reserve convenes Tuesday . By Haruyoshi Yamaguchi, Bloomberg News Employees assemble VQ engines June 14 at a Nissan plant in Iwaki, Japan.


Dollar Weakens Before Home Sales Data, Federal Reserve Meeting
San Francisco Chronicle
June 21 (Bloomberg) — The dollar fell against most of its major peers before a report that’s expected to show new home sales in the US slumped in May, adding pressure on the Federal Reserve to keep interest rates at a record low.

Futures Flat, All Eyes on Greece, FOMC
CNBC.com
Stock index futures pointed to a flat open on Wall Street Tuesday as investors took a cautious stance ahead of a parliamentary confidence vote for the Greek government and as with two-day Federal Reserve meeting due to start. The Federal Open Market


Restaurants could benefit from swipe fee changes
BusinessWeek
After a Senate vote earlier this month, the Federal Reserve is going to curb the fees that stores and restaurants pay financial institutions when a customer swipes a debit card. That fee, typically up to 2 percent of each purchase,

Fed Swap Lines Could Rise To Fore If Greek Contagion Spreads
Wall Street Journal
By Stephen L. Bernard Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)-Euro-zone banks could seek dollar funding from the Federal Reserve if the Greek debt crisis were to spread contagion throughout the financial system. In an echo of the 2008 global
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Dollar Weakens Versus Euro on Speculation U.S. Home Sales Fell Last Month
Bloomberg
“For its part, the Federal Reserve will continue to use its policy tools to support the economic recovery,” she said. Futures on the Chicago Board of Trade show the likelihood the Fed will increase its target rate by March 2012 dropped to 21 percent

Corbett vows to veto any budget that tops $27.3 billion | Philadelphia
Philadelphia Inquirer
Corbett said Monday that he would veto any fiscal plan that totaled more than $27.3 billion, or that imposed a tax or impact fee on natural gas extraction. The governor said he favored a fiscal plan that did not exceed the $27.3 billion proposal he

New unemployment compensation law provides workshare plan
Scranton Times-Tribune
Tom Corbett continues extended jobless benefits for thousands of Pennsylvanians and implements cost savings to help pull the Unemployment Compensation Trust Fund out of the red. With the work-sharing program, Pennsylvania joins 21 other states that

Romney sharpens attack on DoddFrank financial regulations
Washington Post
But the 2010 DoddFrank bill that tightened federal regulations on Wall Street has emerged as a key element of Romney’s evolving stump speech. In a short address to more than 250 supporters at a restaurant in this Denver suburb on Monday,

No Change to Interchange Fee Law Means Big Shakeup for Consumers
Fox Business
By Odysseas Papadimitriou Despite the best efforts of large banks, the restriction on debit card interchange fees, originally set forth by the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act, remains on schedule to