By The Associated Press
The Federal Reserve's chief policymaking group, the Federal Open Market Committee, has vast power over the economy through its ability to set monetary policy.
Here is a look at how the FOMC operates.
Q: What is the FOMC's primary role?
A: Its mission is to keep
CAPE CANAVERAL, Fla. (AP) - In a story Sept. 13 about the space shuttle Endeavour's trip to California, The Associated Press reported erroneously the type of shuttle equipment made at the Michoud Assembly Facility in New Orleans. It made external fuel tanks, not booster rockets.
By CANDICE CHOIAP Food Industry Writer
NEW YORK (AP) - That cheeseburger on the value menu may end up costing more than you think.
Whether it's the "Dollar Menu" at McDonald's or the "Why Pay More Menu" at Taco Bell, fast-food chains often spotlight their cheapest offerings to attract
By DANIEL WAGNERAP Business Writer
WASHINGTON (AP) - The U.S. federal budget deficit increased by $191 billion in August and has topped $1 trillion for the fourth straight year.
The deficit for the first 11 months of the 2012 budget year totaled $1.16 trillion, the Treasury Department said
By MICHELLE R. SMITHAssociated Press
PROVIDENCE, R.I. (AP) - A Boston mobster acknowledged he was the acting head of the New England Mafia as he pleaded guilty in federal court Thursday to one count of racketeering conspiracy for shaking down Rhode Island strip clubs for protection money.
By MARK SCOLFOROAssociated Press
STATE COLLEGE, Pa. (AP) - Nearly three months after Penn State said it wanted to settle "privately, expeditiously and fairly" with the boys Jerry Sandusky sexually abused, lawyers for the victims from his criminal case and other potential claimants say the
By JUAN A. LOZANOAssociated Press
HOUSTON (AP) - A top executive in the now-defunct empire of disgraced Texas financier R. Allen Stanford was sentenced to three years in prison Thursday for her role in helping the once jet-setting businessman bilk investors out of more than $7 billion in one of
By PETER LEONARDAssociated Press
AKTAU, Kazakhstan (AP) - The trial of an opposition politician accused of whipping up fatal clashes between oil workers and police late last year is offering up a rare window into whether Kazakhstan is shaking off its reputation as an authoritarian backwater and
By JAY LINDSAYAssociated Press
BOSTON (AP) - The U.S. Commerce Department on Thursday declared a national fishery disaster in New England, opening the door for tens of millions of dollars in relief funds for struggling fishermen and their ports.
Acting Commerce Secretary Rebecca Blank said the
By CHRISTINA REXRODEAssociated Press
NEW YORK (AP) - To the long list of investing strategies, add this: I'll have what she's having.
That's the idea behind Ditto Trade, an online brokerage for anyone who has a lot of faith in the cousin, best friend or next-door neighbor who's