Questions On Fed Succession Nag In Background At Jackson Hole

Former U.S. Treasury Secretary Lawrence Summers never came near the Federal Reserve's annual monetary policy symposium in Jackson Hole this weekend, but his name was often raised on the sidelines amid speculation over his possible selection as the next Fed chairman The Wall Street Journal reports China Construction Bank's first-half net profit rose 13% from a year earlier, as a result of higher interest income and commissions. Activists and the mayor of Richmond, California, have asked Wells Fargo to drop a lawsuit aimed at stopping Richmond's first-in-the-nation plan to use the government's constitutional power of eminent domain to "seize" hundreds of mortgages from the bank and other financial institutions.
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