“I don’t anticipate ‘stagflation’ ... anywhere near the situation that prevailed in the 1970s,” the Fed chief told Congress.
The firm an application with the SEC for exemptive relief for a series of actively managed, target-date exchange traded funds.
Ted Mathas has been named the firm’s chief executive officer-elect and will succeed Sy Sternberg.
Standard & Poor’s/Case-Shiller national home-price index fell 8.9% in the fourth quarter from the year-ago period.
The rule would cover passive and actively managed ETFs — at least those that promise to divulge their holdings.
Orders for durable goods fell 5.3% in January, a decrease of $12 billion, according to a report released by the U.S. Department of Commerce.
“The economic situation has become distinctly less favorable,” Fed chairman Ben Bernanke told Congress.
The dollar fell to $1.5088 per euro, the lowest since level the European single currency's debut in 1999.
Only 36% of respondents in a survey knew that Medicare eligibility begins at age 65.
Flagging consumer confidence comes as inflation spiked, with prices rising 1% in the past month.
