The U.S. economy sank at a pace of just 1 percent in the second quarter of the year, the Commerce Department reported Friday, in a better-than-expected showing that the recession could be winding down.

Paul Solman: The last in our extended interviews on the Fed: Alan Blinder, who served as the vice chairman of the Fed Board of Governors between 1994 and 1996, weighing in on Alan Greenspan’s legacy and what it was…

Paul Solman: The Federal Reserve has long had a reputation for being secretive. Its closed-door policy has fueled suspicions and countless conspiracy theories since the central bank was established nearly a century ago. And since the Fed has moved rapidly…

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