On the eve of the Great Recession, many conservative pundits and commentators had a world view that combined faith in free markets with disdain for government. Photograph: Spencer Platt/Getty Images

On Sunday the New York Times published an article by the political scientist Brendan Nyhan about a troubling aspect of the current American scene – th(...)

James “Jamie” Dimon, chief executive officer of JPMorgan Chase & Co, whose eight years atop the US bank have made him one of Wall Street’s most powerful leaders, said he’ll start treatment for throat cancer, raising new questions about succession plans. Photograph: Jason Alden/Bloomberg

Jamie Dimon, whose eight years atop JPMorgan Chase and Co. have made him one of Wall Street’s most powerful leaders, said he’ll start treatment for th(...)

Ben Bernanke: described European response as “striking”. Photograph: Gary Cameron/Reuters

The US Federal Reserve worried about “erratic” and “uncoordinated” European approaches to the financial crisis in the wake of the collapse of Lehma(...)

“Money doesn’t talk; it swears”:   New records throw fresh light on a debate over whether to loosen monetary policy in the face of a crisis that was fast engulfing financial markets in 2008. Photograph: Daniel Acker/Bloomberg

Federal Reserve policymakers, in a tense meeting on one of the darkest days of the 2008 financial crisis, were worried the failure of Lehman Br(...)

Planet Business

Image of the week: White House Musk Representing the entrepreneuri(...)

Chairwoman of the US Federal Reserve Janet Yellen: “The recovery in the labour market is far from complete.” Photograph: Bloomberg

Janet Yellen has turned a cold shoulder to the pleas of emerging markets by signalling that only a domestic slowdown will influence US monetary(...)

BMW rose 3 per cent to €84.45 after New York-based Goldman Sachs bank recommended buying the stock.  Photograph: Andrew Harrer/Bloomberg

PAMELA NEWENHAM Global equity markets rose yesterday after new Federal Reserve chair Janet Yellen said she expects the US central bank to(...)

Janet Yellen, the new US Federal Reserve  chairman, has signaled she will carry on the central bank’s unprecedented stimulus until she sees improvement in an economy. Photograph: Pete Marovich/Bloomberg

Federal Reserve chair Janet Yellen said today the US central bank was on track to keep reducing its policy stimulus, even as she acknowledged the l(...)

Serious Money

Investors in US Treasury bonds enjoyed spectacular real returns of more than 8 per cent annualised between the autumn of 1981 and the summer of 2012, (...)

The headquarters of the European Central Bank (ECB) in Frankfurt, Germany. The ECB should fess up its errors and figure out a neat way of giving us some debt relief.

Has a central bank ever admitted making a mistake? Not very often, as far as I can tell. Maybe some minor missteps have been owned up to, but the big (...)