U.S. Economy Improving, Europe Headed for Recession

By | February 24, 2012

(Source: Kirsten Pittman The Charlotte Observer, N.C. (MCT) — Here’s a look at today’s banking and finance headlines:http://obsbankwatch.blogspot.com/2012/02/img/blank.gif

      Dallas Federal Reserve President Richard Fisher said the

U.S. economy is improving

      and that another round of central bond buying isn’t necessary, Reuters reports. JPMorgan Chase and Co. has

more than tripled its holdings

      of mortgage securities without U.S. government guarantees, representing a multibillion-dollar bet on on homeowners, Bloomberg reports.

The European Union lowered its growth forecast for the year and warned that the euro zone would fall into a “mild recession,” the New York Times writes. Stocks opened lower this morning as Hewlett-Packard announced its first-quarter revenue fell short and first-time jobless claims held steady, the Wall Street Journal reports. Technology and industrial sales led the U.S. markets lower.

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©2012 The Charlotte Observer (Charlotte, N.C.)

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Source: Kirsten Pittman The Charlotte Observer, N.C. (MCT)

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