With Jeremy Stein's departure, the Federal Reserve loses a big supporter of winding down stimulus.
FORTUNE -- One less taperer is in the house.
One of the Federal Reserve's more vocal advocates of the need to reduce monetary stimulus is leaving the U.S. central bank.
On Thursday, Jeremy Stein announced that he plans to leave the Fed in late May to return to Harvard University, where he teaches economics.
Stein has been a Fed governor since May 2012. He joined the MOREStephen Gandel, senior editor - Apr 3, 2014 11:47 AM ET
The nation's biggest bank is parting ways with one of its most controversial bankers.
FORTUNE -- Blythe Masters, one of the highest-profile female investment bankers, is leaving JPMorgan Chase after 27 years.
JPMorgan (JPM) announced the departure in a memo on Wednesday in which CEO Jamie Dimon and Daniel Pinto, who heads the firm's investment bank, called Masters' career "remarkable." They said Masters will be taking some "well-deserved" time off and that MOREStephen Gandel, senior editor - Apr 2, 2014 3:18 PM ET
Arthur Levitt says there is no evidence that suggests individuals are worse off because of high-frequency trading.
FORTUNE -- Arthur Levitt isn't likely to give Michael Lewis's new book Flash Boys an Amazon five-star review.
Levitt, one of the best known advocates for average investors and a former head of the Securities and Exchange Commission, says he disagrees with the view that high-frequency trading has been bad for individual investors, and that MOREStephen Gandel, senior editor - Apr 2, 2014 1:31 PM ET
Michael Lewis has stirred up the debate about how some traders get an unfair advantage. Eric Hunsader, a longtime high-frequency-trading critic who appears in Lewis's book Flash Boys, says not enough attention is being paid to the role of the SEC.
FORTUNE -- Michael Lewis's book Flash Boys, which came out on Monday, is about how some traders are using supercomputers to game the market. Lewis said on 60 Minutes on MOREStephen Gandel, senior editor - Mar 31, 2014 3:11 PM ET
Seeking Alpha says it is "redoubling its efforts" to limit stock promoters on its site.
FORTUNE -- The investing website Seeking Alpha is making changes to curtail the use of its site by stock promoters.
In a post on its website last week, Seeking Alpha's editor-in-chief Eli Hoffmann said that the site was responding to recent "discoveries" and was "redoubling our efforts to identify and prevent stock manipulation." Hoffmann said the company would MOREStephen Gandel, senior editor - Mar 31, 2014 8:57 AM ET
James Gorman gets $18 million in 2013 pay and long-term compensation.
FORTUNE -- Last year was a good one for Morgan Stanley's CEO James Gorman. On Friday, we got more confirmation of that.
According to a financial filing, Morgan Stanley (MS) paid Gorman $12 million for his work in 2013. That was double what the CEO got the year before. In addition to his 2013 compensation, Morgan Stanley also said Gorman was MOREStephen Gandel, senior editor - Mar 28, 2014 5:02 PM ET
Results of the Fed's stress tests may signal it's time for bank investors to look out below.
FORTUNE -- The Federal Reserve's annual stress tests turned out to be more unpredictable, and less favorable for the banks, than predicted. That's good. Economic downturns are unpredictable, so the test should be too. Not that bank investors liked it. Even the shares of banks that passed the Fed's tests dropped on Thursday.
That's a MOREStephen Gandel, senior editor - Mar 27, 2014 9:48 AM ET
The Fed approves the capital plans of 25 others. Goldman and Bank of America were forced to resubmit.
FORTUNE -- The Federal Reserve approved the capital plans of 25 of the nation's 30 largest banks on Wednesday as part of the final leg of its annual required stress tests.
Citigroup was the most notable bank among those that had their capital plans rejected. The Fed said it was troubled by Citi's inability to MOREStephen Gandel, senior editor - Mar 26, 2014 4:00 PM ET
That figure is smaller than what similar studies have found. There's also been a big jump in the shadow banking system, which, if you're worried about large banks, is good news.
FORTUNE -- The Federal Reserve finally got around to stating the obvious.
On Tuesday, the New York Fed, through a series of research papers, said the nation's largest banks borrow more cheaply, and take on more risks, than smaller banks and MOREStephen Gandel, senior editor - Mar 26, 2014 10:56 AM ET
We know, you're shocked. Economists at the San Francisco Fed said the central bank is very unlikely to lose money on its $4 trillion portfolio.
FORTUNE -- The Federal Reserve says it's fit enough to weather economic stress as well.
Last week, the Fed released the results of its annual stress test of the nation's largest banks. Nearly all of the banks came out with a clean bill of health. Monday, the MOREStephen Gandel, senior editor - Mar 24, 2014 3:59 PM ET
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