Political Capital

Finance

Janet Yellen, vice chairman of the U.S. Federal Reserve, attends the American Economic Association's annual meeting in San Diego.

Photograph by Sam Hodgson/Bloomberg

Janet Yellen, vice chairman of the U.S. Federal Reserve, attends the American Economic Association's annual meeting in San Diego.

Yellen for Fed Chairman: Obama Announcing Wednesday

President Barack Obama will nominate Federal Reserve Vice Chairman Janet Yellen tomorrow to head the U.S. central bank, a White House official said in an e-mailed statement. Yellen, 67, would succeed Fed Chairman Ben S. Bernanke, whose term ends Jan....

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A statue of George Washington stands in the U.S. Capitol Rotunda below the Apotheosis of Washington fresco in in Washington, D.C.

Photograph by Andrew Harrer/Bloomberg

A statue of George Washington stands in the U.S. Capitol Rotunda below the Apotheosis of Washington fresco in in Washington, D.C.

Bloomberg by the Numbers: 47%

That’s the share of Americans who say it’s “absolutely essential” to raise the federal debt ceiling to avoid an economic crisis, according to a Pew Research Center report. That compares with 39 percent who say the nation “can go past...

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Jacob "Jack" Lew, U.S. treasury secretary, listens to a question during an Economic Club of Washington breakfast in Washington, D.C., onSept. 17, 2013.

Photograph by Andrew Harrer/Bloomber

Jacob "Jack" Lew, U.S. treasury secretary, listens to a question during an Economic Club of Washington breakfast in Washington, D.C., onSept. 17, 2013.

Bloomberg by the Numbers: 14

That’s the maximum number of days before the Treasury Department exhausts efforts to avoid breaching the nation’s $16.7 trillion debt limit, according to Secretary Jacob J. Lew. The Treasury Department has begun using “final extraordinary measures” to pay the nation’s...

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Lady Gaga speaks at The Daily Front Row's Fashion Media Awards at Harlow on September 6, 2013 in New York City.

Photograph by D Dipasupil/Getty Images for The Daily Front Row

Lady Gaga speaks at The Daily Front Row's Fashion Media Awards at Harlow on September 6, 2013 in New York City.

@LadyGaga Gaga Over #Obamacare

It’s true that President Barack Obama has some friends in the entertainment business. He raises campaign cash among the filmmakers, and allies have called on celebrities to tout  his “Obama-care.” The president’s social media-savvy supporters asked influential supporters to promote...

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Senate Majority Leader Sen. Harry Reid (D-NV) looks at a countdown timer for a possible government shutdown as he attends a news conference with Sen. Patty Murray (D-WA) on September 26, 2013 on Capitol Hill in Washington, DC.

Photograph byAlex Wong/Getty Images

Senate Majority Leader Sen. Harry Reid (D-NV) looks at a countdown timer for a possible government shutdown as he attends a news conference with Sen. Patty Murray (D-WA) on September 26, 2013 on Capitol Hill in Washington, DC.

Countdown to Shutdown: 4 Days

Updated at 8:43, 8:57 and 11:07 am, 1:20, 2:15, 2:58, 3:52 and 3:58 pm EDT With Amanda Gordon of Bloomberg Muse reporting on a senator’s night out.  It was B-Day (for Budget) in the Senate. It will soon be D-Day...

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Customers carry shopping baskets during the grand opening of a Wal-Mart Stores Inc. location in the Chinatown neighborhood of Los Angeles on Sept. 19, 2013.

Photograph by Patrick T. Fallon/Bloomberg

Customers carry shopping baskets during the grand opening of a Wal-Mart Stores Inc. location in the Chinatown neighborhood of Los Angeles on Sept. 19, 2013.

World’s Richest Woman Lists Wyoming Home — Cabin to Boot

Christy Walton, the world’s richest woman, has a house for sale. Walton, widow of John T. Walton,  second son of Wal-Mart founder Sam Walton, inherited a 12.2 percent stake in the world’s biggest retailer and largest private employer in the U.S....

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A woman walks by a street painting of Frank Sinatra in Hollywood on August 15, 2013 in Los Angeles, California.

Photograph by Joe Klamar/AFP via Getty Images

A woman walks by a street painting of Frank Sinatra in Hollywood on August 15, 2013 in Los Angeles, California.

Fed’s Bernanke Did It His Way, Overstates ‘Regrets’ ala Sinatra

Ben Bernanke might never admit that he ever “bit off” more than he could chew, though certainly he has taken his “blows.” Yet the Federal Reserve chairman may have overstated any “regrets” after nearly two full terms, presiding over the...

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Ben S. Bernanke, chairman of the U.S. Federal Reserve, sits before speaking at the Princeton Club in New York.

Photograph by Scott Eells/Bloomberg

Ben S. Bernanke, chairman of the U.S. Federal Reserve, sits before speaking at the Princeton Club in New York.

Bernanke: Democrats Grown to Like Him, Republicans Turned Against

Ben who? The astoundingly public debate over a successor for Federal Reserve Chairman Ben Bernanke has crowded out what might be an appropriate time to assess the work of the Fed chairman who steered the American economy through the worst...

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Jacob "Jack" Lew, U.S. treasury secretary, speaks during an Economic Club of Washington breakfast in Washington, D.C., on Sept. 17, 2013.

Photograph by Andrew Harrer/Bloomberg

Jacob "Jack" Lew, U.S. treasury secretary, speaks during an Economic Club of Washington breakfast in Washington, D.C., on Sept. 17, 2013.

Lew: ‘Self-Inflicted Wound’

Updated at 1:30 pm EDT “Failure to raise the debt limit is a self-inflicted wound to the economy,” Treasury Secretary Jack Lew said today. “The time to make policy is before, not after we make commitments. Congress can get it...

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The National Debt Clock hangs above the Internal Revenue Service entrance in New York City on February 20, 2013.

Photograph by Anthony Behar/Sipa USA via AP Images

The National Debt Clock hangs above the Internal Revenue Service entrance in New York City on February 20, 2013.

Bloomberg by the Numbers: $16.7 Trillion

That’s the current U.S. debt limit. The limit was set at $16,699,421,095,673.60 in May. The nation was within about $25 million of the limit on Sept. 13, according to the Treasury Department. Treasury Secretary Jack Lew last month told Congress...

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