Tag Archive for Nytimes

Daughters catch up with sons giving financial help to parents made destitute by ZIRP Bernankecide

Two-thirds of boomers’ daughters say they are providing some sort of financial support to their parents, up from 48 percent in 2007, when the initial “Money Across Generations” survey was done. (Baby boomers are Americans born between 1946 and 1964.) More daughters report helping to pay their parents’ utility bills, housing costs or long-term care…

Where Wealth Declined Most (and an Income Riddle) – NYTimes.com

By BINYAMIN APPELBAUM The bleak portrait of the financial health of American families that the Federal Reserve published Monday shows that the impact of the economic crisis has fallen with disproportionate weight on the middle class. The middle 60 percent of American families had a larger decline in wealth and income on a percentage basis than…

Family Net Worth Drops to Level of Early ’90s, Fed Says – NYTimes.com

By BINYAMIN APPELBAUM WASHINGTON — The recent financial crisis left the median American family in 2010 with no more wealth than they had in the early 1990s, erasing almost two decades of accumulated prosperity, the Federal Reserve said Monday. The median family, richer than half of the nation’s families and poorer than the other half,…

Survey Finds Gloomy Attitudes Toward Retirement – NYTimes.com

PARIS — People in the United States and Europe are increasingly pessimistic about their financial prospects for retirement, as cash-strapped governments face pressure to cut social programs and raise retirement ages, according to the results of a survey released Thursday. The study, based on surveys of 9,000 people in the United States and Europe and…

Spanish Bond Auction Succeeds Under Intense Scrutiny – NYTimes.com

PARIS — Spain carried out a successful bond auction Thursday under intense scrutiny, even as expectations are growing that Madrid will soon ask other European nations to bail out its banking sector. The Spanish Treasury sold about 2.1 billion euros, or $2.6 billion, of bonds, slightly more than planned, after demand proved unexpectedly strong. The…

Bank of England Maintains Interest Rate and Stimulus Program – NYTimes.com

LONDON — The Bank of England decided Thursday to keep its benchmark interest rate unchanged at a record low as the British economy struggles to recover amid the government’s austerity program and troubles in the euro zone. Britain’s central bank kept its main interest rate at 0.5 percent, where it has been since the beginning…

Fed Members Inclined to Stand Pat, for Now – NYTimes.com

WASHINGTON — Three members of the Federal Reserve’s policy-making committee indicated in separate speeches Wednesday that recent economic data, while troubling, does not yet justify an expansion of the Fed’s economic aid campaign. The remarks suggested that the committee, which meets in two weeks, would give increased consideration to such an expansion, but also that…