Federal Reserve Chairman Ben Bernanke told Congress on Wednesday housing market woes could dampen an expected pickup in U.S. economic growth, but he restated that the central bank's main worry is inflation.
The dollar rose versus the yen for the first time in three sessions after a government report showed foreign investors bought a record amount of U.S. securities in May.
Asian shares mostly eased on Monday with South Korea retreating from record highs on fears the government may move to cool the market, while Brent crude was about $1 away from its highest level due to supply worries.
The dollar weakened against major currencies on Monday, plumbing fresh multi-year depths against higher-yielding units as bearish sentiment toward the greenback and the outlook for U.S. interest rates gripped markets.
Gold held steady on Monday below a five-week high, with investors keeping an eye on the dollar, which hovered near record lows against the euro, for short term direction.
Stocks slid on Tuesday as the subprime mortgage crisis escalated, undermining banking shares, while Home Depot Inc. and other housing-related companies lowered their outlooks.
Swings in volatile energy and food prices will have minimal impact on inflation as long as expectations of future price gains are held steady, Federal Reserve Chairman Ben Bernanke said on Tuesday.
Financial markets expect the U.S. Federal Reserve to announce on Thursday it has kept benchmark borrowing costs unchanged for the eighth straight meeting, marking a full year since the last increase.
Changes in financial and credit conditions can amplify cyclical swings in the economy and the effect of monetary policy, Federal Reserve Chairman Ben Bernanke said on Friday.
U.S. stock futures pointed to a flat to slightly higher open on Friday, with technology shares likely to underpin gains after a broker upgrade of Intel Corp. , but investors were cautious ahead of key inflation data.
The rising number of missed mortgage payments and foreclosures by higher credit risk homeowners will not likely cause damage to the U.S. economy, said Federal Reserve Chairman Ben Bernanke on Thursday.
Stocks slid further Wednesday after Federal Reserve Chairman Ben Bernanke appeared to chide investors who may have looked past concerns about inflation following Fed comments last week. The Dow Jones industrials fell more than 100 points.
Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that growing troubles in the market for risky mortgages thus far doesn't appear to be spreading to the overall economy but the situation bears close watching.
Federal Reserve Bank Chief Ben Bernanke said on Wednesday there is a need for U.S. consumers to save more money. However he added that “no silver bullet†has yet been found for a way to increase household savings.
The FTSE edged up on Wednesday, led by sugar and sweetener maker Tate & Lyle and banking consolidation talk, but miners and oils limited gains as some commodity prices fell.
New U.S. Federal Reserve chairman Ben Bernanke is trying to depersonalize the Fed by making its decision-making more democratic and easier to understand, The Wall Street Journal reported on Friday.
U.S. Treasuries slipped slightly in Asia trade on Monday, pulling benchmark yields up from five-month lows, as many investors sat tight before a slew of data and speeches from Federal Reserve officials.
Rising oil prices lifted European energy stocks on Friday while most financial markets were focused on an upcoming speech by U.S. Federal Reserve Chairman Ben Bernanke.
Hiring slowed in July as employers added just 113,000 new jobs, propelling the unemployment rate to a five-month high of 4.8 percent and providing fresh evidence that companies are growing cautious amid high energy prices. Wages grew solidly.
High crude oil prices have had some impact on U.S. economic growth but the pain is not on the level seen during the energy price shocks of the 1970s, U.S. Energy Secretary Sam Bodman said on Wednesday.
For a self-proclaimed advocate of inflation-targeting, Federal Reserve Chairman Ben Bernanke seemed remarkably unperturbed this week by recent signs that price increases in the economy are accelerating.
Britain's FTSE 100 index closed easier on Thursday, giving up an early advance as buyers paused after Wednesday's steep gains on easing interest rate tensions.
However, support services company Capita stood out with a 9.3 percent rise after it posted a forecast-beating 24 percent jump in interim profits.
