The virtual currency called "bitcoins" uses encryption to monitor peer-to-peer financial transactions and operates outside the purview of central banks and the Federal Reserve. Like any monetary system, bitcoins can be traded for bills like dollars and euros.
Today, we look at a new and mysterious online currency called "bitcoin." Since its launch in 2009, it’s prompted many to imagine an alternative reality. In it, the economic establishment no longer controls the flow of money around the world.
American credit ratings agencies recently downgraded Greece, Portugal and Ireland’s debt to junk status, making it harder for the EU to avoid an economic meltdown. In Europe, there’s growing discontent over these agencies’ unchecked power.
The Senate has voted to let the Federal Reserve limit the fees that stores pay banks each time a shopper swipes a debit card.It's a victory for merchants in a long-running lobbying fight with banks.At issue is a Fed proposal that's set to take effect next month and would cap the fees at 12 cents per
Consumers are wedged in the middle of a fight between bankers and merchants as the Senate stages a showdown vote over whether to limit fees that stores pay financial institutions every time a debit card is swiped.The vote planned for Wednesday is on an effort to block a Federal Reserve proposal to l
"The economic recovery that began a year and a half ago is continuing" and there is "increased evidence that a self-sustaining recovery in consumer and business spending may be taking hold," Federal Reserve Board Chairman Ben Bernanke told Congress this morning.But, as we saw in this morning's empl