Minneapolis Federal Reserve Bank President Narayana Kockerlakota on Friday said he dissented from a U.S. central bank decision to keep interest rates low until mid-2013 because he felt more policy easing wasn't needed.
Disappointing economic growth in the first half of 2011 clearly can not be blamed only on one-off factors, one of the central bank's most influential policymakers said on Friday, adding he had cut his expectations for the pace of the recovery.
Rollercoaster financial markets and the worst riots Britain has seen in decades have made it quite a week for a time of year that is usually so dead the newspapers are filled with "silly season" tales of amusing pet antics.
There is one thing that the doomsayers have gotten wrong: They aren?t nearly worried enough.
An anorexic under doctor's orders to put on weight might fret unnecessarily about getting fat one day.
Handing out flyers at the corner of 47th Street and Fifth Avenue in New York City's Diamond District, Mariabi Peenya is having trouble finding passersby eager to sell their gold jewelry for cash.
Gold eases off the session's record highs after the CME Group raised margins on COMEX gold futures, but turmoil in the global financial markets and fears of slower growth buoyed sentiment.
In days past, jawboning from Presidents and central banks was often enough to stem a financial markets selloff. Not anymore.
Mortgage rates have fallen to a nine-month low, sending refinancing applications on the rise.
The number of Americans claiming new jobless benefitsdropped to a four-month low last week, a sliver of hope for an economy that has been battered by a credit rating downgrade and falling share prices.
World stocks and the euro fell back Thursday, prompting a rush to safe-haven government bonds as concerns resurfaced about the euro zone banking system and signs of funding stress.
Gold eased on Thursday from record highs struck earlier in the session after the CME Group raised margins on COMEX gold futures, but turmoil in the global financial markets and fears of slower growth will buoy sentiment.
China's price rises may have peaked but the country still faces inflationary risks, including the possibility of a new round of monetary easing by the United States, China's top economic planner said on Wednesday.
The euro fell to fresh five-month lows against the yen in Asia on Thursday and looked set to stay under pressure as worries about the euro zone sovereign debt crisis spread to the region's banking sector.
U.S. stocks tumbled more than 4 percent on Wednesday, almost wiping out gains from a relief rally the previous day, as rumors about the health of French banks sparked concern that the euro zone's debt crisis could claim new victims.
The shares of Bank of America Corp (BAC.N), Citigroup Inc (C.N), Goldman Sachs Group Inc (GS.N) and Morgan Stanley (MS.N) skidded on Wednesday, renewing evidence that when the market sneezes financial stocks get pneumonia.
The Federal Reserve appears increasingly likely to embark on another round of monetary stimulus if the economy continues to lose momentum.
In essence, the Federal Reserve has inadvertently and implicitly extended the maturity of the average money market fund from less than 1 year to up to 5 years.
Gold held steady on Wednesday, hovering near a lifetime high around $1,778 an ounce struck in the previous session, but further gains could be capped by a rebound in equities after the U.S. Federal Reserve's vow to keep rates near zero.
A reorientation of Russia to East from West could be a complete economic game-changer.
Gold climbed to a third record in a row on Wednesday, extending its best rally since 2008 as a dive in French bank stocks sent new shudders through anxious financial markets, sending U.S. stocks skidding.
Gold hit fresh record highs on Wednesday as U.S. stock markets resumed their decline on concerns over the U.S. and euro zone economies, and after the Federal Reserve said U.S. interest rates would stay near zero for at least two years.