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CalPERS CIO: U.S. default would have 'catastrophic consequences'
trueA default by the U.S. government would have “catastrophic consequences” for the U.S economy, warned CalPERS Chief Investment Officer Joseph Dear on Monday.
Budget, debt ceiling gridlock not worrying investors ... yet
trueAs Washington policymakers deal with the deadline dramas of an expiring budget resolution and the federal debt ceiling, money managers and their institutional clients are taking it all in stride.
Fed likely to continue quantitative easing program
trueThe Federal Reserve is likely to continue or even expand its self-described “highly accommodative” monetary policy for some time, according to a statement issued Wednesday at the end of a two-day meeting of the Federal Open Market Committee.
Taxing pensions and 401(k)s
truePresident Barack Obama's federal budget proposal to restrict accumulations in retirement programs would, if enacted, affect in a direct way only a very few participants, but would undermine the pension system and hurt all participants in it.
Obama budget to cap retirement deductions
trueThe retirement- and investment-related tax proposals in President Barak Obama's fiscal 2014 budget are bargaining chips in the administration's battle with Republicans, Washington insiders say.
Fed stays put on federal funds rate and purchases
trueThe Federal Reserve Open Market Committee voted Wednesday to keep the federal funds rate at zero to 0.25% until the unemployment rate improves, and to continue monthly purchases of $85 billion in mortgage-backed and longer-term Treasury securities.
Fiscal debt drama has chill for markets
truehe following comments were overheard at a recent meeting of Debt-aholics Anonymous.
Fed stays put on rates, bond buys
trueGradual economic growth and little progress in the unemployment rate convinced members of the Federal Open Market Committee to continue with monthly Treasury purchases of $85 billion and to keep the federal fund rate at zero to 0.25%, according to a statement from the first two-day meeting of 2013.
New Congress offers hope for pension issues
trueWhile wholesale policy changes are not expected in President Barack Obama's second term, some new Capitol Hill assignments have sparked a glimmer of optimism among retirement and investment industry observers.
P&I survey shows divergence in investors', market views
trueUncertainty caused by last-minute congressional negotiations to avert the fiscal cliff created pessimism about the economy and markets in the short term, according to Pension & Investments readers responding to a P&I/Oxford University survey.
'Bare-bones' resolution to budget crisis seen as most likely
trueAny fiscal-cliff resolution is being seen as nothing more than a “bare-bones” extension approved by the end-of-the-year deadline.
Dan Fuss comments on the fiscal cliff, Europe
trueThe economic outlook for 2013 remains clouded by the on-going fiscal cliff talks in Washington and overall government debt levels here and abroad, Loomis Sayles Vice Chairman Dan Fuss, said in a recent P&I interview.
Profiteers and politicians: Two groups that need to clean up their acts
trueAs politicians in Washington consider a resolution to the Fiscal Cliff, they could learn important lessons from people's opinion of profiteering.
CFA survey shows rising economic, stock market optimism
trueForty percent of respondents to the CFA Institute's annual global market sentiment survey expect the global economy to expand next year, up from 34% a year ago.
Poll results: How significant would a cut of retirement plan tax incentives have on savings?
trueEighty-three percent of Pensions & Investments readers believe a cut of retirement plan tax incentives would have a negative impact on retirement savings.