The Federal Reserve's move to purchase an additional $600 billion in bonds carries risks and should be reviewed on a regular basis, Richmond Fed President Jeffrey Lacker said on Monday.
In a CBS interview, Federal Reserve Chairman Ben Bernanke took shots at foreign critics who openly bashed QE2 in the days leading up to the November 11 G20 Summit.
S&P 500 Index slid 3.63 points, or 0.31 percent, to trade at 1,220.95 at 09:55 a.m. EST. The Dow Jones Industrial Average is down 30.08 points, or 0.26 percent, to trade at 11,352.01. The Nasdaq Composite Index fell 0.28 percent to trade at 2,584.64.
Stocks were little changed on Monday as investors were cautious before moves by euro zone officials to keep a debt crisis contained, but the S&P 500 stood within points of a new high for the year.
Stocks edged lower on Monday as investors took profits before moves by euro zone officials to keep a debt crisis contained, but the S&P 500 stood within points of a new high for the year.
Despite a dovish Bernanke, EUR/USD's attempt to break above the upper limit of a downward channel from early November highs on the back of a weak non-farm payrolls data proved unsuccessful as debt-related worries of euro-zone continued to weigh on the single currency.
Stocks dipped on Monday with investors taking profits and looking for further action from European officials to prevent a debt crisis from spreading.
The Federal Reserve could end up buying more than the $600 billion in U.S. government bonds it has committed to purchase if the economy fails to respond or unemployment stays too high, Fed Chairman Ben Bernanke said.
Stock index futures slipped on Monday on jitters about the European debt crisis and with investors set to lock in profits after a strong market performance last week.
Stock index futures fell on Monday after Federal Reserve Chairman Ben Bernanke offered a more sobering view of the economy and investors were set to lock in profits after a strong performance last week.
China's currency peg hurts U.S. exports but is also bad for the Chinese economy, since it prevents the country's authorities from running their own monetary policy, Federal Reserve Chairman Ben Bernanke said.
During a CBS interview, Federal Reserve Chairman Ben Bernanke did not rule out the possibility of more asset purchases, meaning a third round of quantitative easing (QE3) is possible.
Federal Reserve Chairman Ben Bernanke did not rule out further purchases of Treasury bonds beyond the $600 billion program announced last month, CBS television reported Bernanke as saying in an interview on the show 60 Minutes.
The U.S. Federal Reserve's controversial $600 billion bond buying program is subject to regular review and can be adjusted if needed, top Fed officials said on Thursday.
Republican lawmakers on Thursday met with a senior Federal Reserve official who opposes the central bank's easy money policies to discuss stripping the Fed of its task of ensuring full employment.
U.S. Federal Reserve Chairman Ben Bernanke will appear on the news program 60 minutes on Sunday, part of an effort by the central bank to step up its public communications.
NZD/USD has broken below its key support level on Tuesday as dollar's across-the-board strength weighed on the kiwi currency, and at a near 2 month low, the pair is now testing its 100-day SMA on the daily chart. Momentum indicators clearly suggest the pair is in the oversold zone but a strong technical reversal also need the support of good news from the Euro-zone, traders said.
Minutes of the November 2-3 Federal Open Market Committee meeting.
In an eventful week, that passed through uncertainty about Ireland's response to a bailout offer, an unexpectedly higher Chinese inflation number and its policy response and largely mixed US data, investors remained cautious about the changing 'risk-friendliness' of commodities. In a mixed precious metals segment, silver rose 5 percent in the week and palladium was up by 4.4 pct while gold fell 1.1 percent and platinum dropped by 0.9 percent from previous Friday.
U.S. stocks finish a volatile week with modest gains on Friday, finishing flat for the week as a whole. In the absence of major economic data in the U.S., investors focused on moves by China to rein in their inflation, while Ireland continues to negotiate a bailout arrangement from the European Union and International Monetary Fund (IMF).
Full-text of speech by Fed Chairman Ben Bernanke at the sixth European Central Bank Central Banking Conference, in Frankfurt, Germany , on Nov. 19, 2010.
S&P 500 Index slid 5.63 points, or 0.49 percent, to trade at 1,190.71 at 09:50 a.m. EST. The Dow Jones Industrial Average is down 44.77 points, or 0.40 percent, to trade at 11,136.46. The Nasdaq Composite Index fell 0.44 percent to trade at 2,503.47.