FEDERAL RESERVE

Gold jumped to a three-month high on Wednesday, reversing early losses after bullish technical factors triggered fund buying, and platinum prices hit their highest in five months on supply worries.

U.S. home resales rose to a 1-1/2 year high in January, pushing the supply of properties on the market to the lowest level in almost seven years in a hopeful sign for the housing sector.

When it comes to the debate on whether the United States is experiencing inflation, it is typically not a yes or no interchange. If you have read the first two parts (Part 1, Part 2) of my series on inflation, you are well aware that I am on the side that inflation is already upon us. My counterparts, typically, will not only disagree, but will also bring up the issue of deflation.

Only 54 percent of Americans have more emergency savings than credit card debt, according to a February study by Bankrate.com.

Stock index futures pointed to a rise in U.S. equities on Tuesday after the market opens following Monday's Presidents Day holiday, with futures for the S**9**P 500, the Dow Jones Industrial Average and the Nasdaq 100 rising 0.4 percent to 0.5 percent.

Italian police reportedly seized nearly $6 trillion worth of fake U.S. Treasury bonds and other securities in Switzerland and arrested eight Italians in connection with international fraud and financial crimes.

The U.S. consumer price index rose less than forecast in January as prices for household energy and used automobiles cooled, supporting the Federal Reserve's view that inflation will remain in check.

The market capitalization of U.S. equity markets has increased by $3 trillion since last October.

Consumer prices rose the most in four months in January as the price of gasoline jumped, highlighting a growing concern that higher energy costs could slow the economic recovery.

The weak economic recovery has made it harder for banks to make money from loans but the financial conditions of smaller institutions appear to be solidifying, Federal Reserve Chairman Ben Bernanke said on Thursday.

Producer prices outside food and energy recorded their largest increase in six months in January, but are unlikely to ignite inflation pressures given the slack in the labor market.

A current rally in the sprawling $7.74 trillion field for corporate bonds, which are issued as debt by major American corporations, belies a great churning occurring just beneath the market's surface. Recently, Richard Prager, who heads the bond strategy desk at the world's largest asset management firm, put it succinctly: "Houston, we got a problem."

Minutes of the Federal Reserve Board's January meeting confirm that current board governors are divided on engaging in another round of bond purchasing, but they also portrayed the central bank leaders as agreed on the propriety of ultra-low interest rates.

Federal Reserve policymakers are turning to cars to illustrate just how split they are over what, if anything, to do about the U.S. economy, with some eying the brake pedal and others the gas.

Dallas Federal Reserve Bank President Richard Fisher had a message for Wall Street on Wednesday: don't expect more from the U.S. central bank.

Hedge fund manager and long-time gold bull John Paulson cut his gold ETF bullion holdings by about $600 million in the fourth quarter, a second straight reduction that was likely driven by client redemption needs as he remained upbeat on the metal.

An important leading indicator on the state of national manufacturing revealed a high level of optimism in that economic category, suggesting the recovery underway in that sector could become a rolling trend.

A gauge of manufacturing in New York State picked up in February to its highest level in more than 1-1/2 years, though the pace of new orders slowed, the New York Federal Reserve said in a report on Wednesday.

The Federal Reserve unanimously approved Capital One Financial (COF)'s $9.2 billion purchase of ING Groep NV (INGA)'s online banking unit in the United States, sealing the biggest merger since the Dodd-Frank law enacted stricter reviews of such deals.

The Fed revised December's industrial output to show a solid 1.0 percent increase instead of the previously reported 0.4 percent gain, pointing to underlying strength in the economy. Economists polled by Reuters had expected industrial production to increase 0.7 percent last month .

Stock index futures rose Wednesday, buoyed by comments from China's central bank chief that the country would keep investing in euro zone debt and better-than-expected data from Germany and France.