Obama seeks remake of Fed's powers: WSJ

Date: Monday, June 15, 2009
Obama seeks remake of Fed's powers: WSJ

President Barack Obama is expected to propose a sweeping
reorganization of financial-market supervision, including remaking the
powers of the Federal
Reserve, The Wall Street Journal reports.

JAWBONING DELIVERS DOLLAR GAINS

U.S. Treasury Secretary Timothy Geithner appears to have won a respite
for the U.S. dollar, economists said Monday, after various officials
voiced confidence
in the greenback following the weekend meeting of the Group of Eight finance
ministers in Italy.

DOLLAR RISES AS G8 LOOKS TO END FISCAL STIMULUS

Dollar climbs against most of its major rivals after the Group of
Eight finance ministers say they are discussing strategies to unwind
policy measures taken on
in response to the economic crisis.

G8 MINISTERS LOOK TO END FISCAL, MONETARY STIMULUS

Finance ministers from the Group of Eight leading industrialized
countries say they have begun discussing how to unwind the fiscal and
monetary policy measures undertaken in response to the financial and
economic crisis that spread last year.

MANUFACTURING WORSENS IN NEW YORK IN JUNE

Manufacturers in the New York region said business worsened in early
June, according to a report from the New York Federal Reserve Bank.
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