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US lawmakers slam Fed’s crisis lending proposal

A bipartisan group of lawmakers has urged the Federal Reserve to restrict its crisis lending programs for big banks, which were criticized as bailouts during the 2007-2009 meltdown. During the crisis, the Fed invoked its emergency lending powers to pump cash into Citigroup, Morgan Stanley and other banks to prevent [...]

RBA sees uncertain growth outlook as rate pause reaffirmed

Australia’s central bank said the nation’s economic outlook remains uncertain because of the conflicting forces at play and reiterated that interest rates are set to remain on hold. Members “noted the significant uncertainties around the growth forecast and the importance of considering the risks to the forecast as well as [...]

ECP to brief PERC on electoral reforms on August 26: Dar

Chairman Parliamentary Electoral Reforms Committee (PERC) Senator Ishaq Dar Tuesday said the Election Commission of Pakistan (ECP) would brief the body on electoral reforms on August 26. All political parties have unanimously decided that there would be no compromise on supremacy of the Parliament and Constitution, he said while talking [...]

Growing disillusionment

GOVERNMENTS cannot seriously live under the grand delusion that the ordinary public will go into a trance on being informed that the budget deficit targets agreed on with the International Monetary Fund are being met, or that foreign exchange reserves have risen sharply (although on the back of oneoff inflows [...]