Thomas Hoenig, one of the most outspoken anti-inflation hawks among senior Federal Reserve officials, will step down from the Kansas City Fed October 1 as widely expected after he reaches mandatory retirement age, according to a bank statement on Friday.
The Federal Reserve should complete its current round of bond-buying, designed to support the recovery, and likely does not need to extend it, Chicago Fed President Charles Evans said on Friday.
The U.S. economic recovery is on solid ground, making it unlikely the Federal Reserve will extend its bond-buying stimulus program, Atlanta Federal Reserve Bank President Dennis Lockhart said on Friday.
The collapse of an asset bubble will not necessarily lead to higher unemployment as long as monetary policy is loose enough, a top Federal Reserve Bank official said on Friday.
The economic recovery is on solid ground but there are still enough sources of weakness to justify keeping interest rates very low, Atlanta Federal Reserve President Dennis Lockhart said on Friday.
Dallas Federal Reserve Bank President Richard Fisher said on Friday there were signs that liquidity was not just abundant, but excessive in the United States.
The collapse of an asset bubble will not necessarily lead to higher unemployment as long as monetary policy is loose enough, a top Federal Reserve Bank official said on Friday.
Federal Reserve Chairman Ben Bernanke will break nearly 100 years of tradition at the U.S. central bank next month when he begins talking to the media after policy meetings.
Federal Reserve Chairman Ben Bernanke will hold media briefings four times a year in a historic shift to greater openness at the traditionally secretive U.S. central bank.
(Corrects Lou Crandall comment to say the Fed's policy views since the beginning, and not since the Beijing.)
Federal Reserve Chairman Ben Bernanke will break nearly 100 years of tradition at the U.S. central bank next month when he begins talking to the media after policy meetings.
Gold hit its second new record high on the trot at the London Gold Fix on Thursday morning, hitting $1441.25 per ounce for US investors as the Dollar held flat on the forex market, and US crude oil rose.
U.S. stocks staged an afternoon rally Wednesday, led by materials companies, though investors continued to eye several overseas trouble spots warily.The Dow Jones Industrial Average rose 89 points, or 0.7%, to 12108 in late afternoon trade, led by Alcoa, which rose 3.3%. The gains were kept in check by a 1.5% decline for Bank of America, which said the Federal Reserve didn't allow it to boost its dividend. Wal-Mart Stores also was weak, falling 0.8%, as was DuPont, down 0.4%.
New financial regulatory reforms should help reduce the edge that large banks have over smaller ones because of their implicit support from government, Federal Reserve Chairman Ben Bernanke said on Wednesday.
There is a clear sense of calm returning to the financial markets after the horrific earthquake in Japan and the leveling of the playing field in Libya. Though the damage associated with Japan’s earthquake is clearly immense, its economic impact will mostly be localized.
The U.S. recovery is gaining traction, two top Federal Reserve officials said on Tuesday, though they differed on the risks of inflation in the U.S. economy.
The Federal Reserve earned a record $81.7 billion in 2010, largely on investments made to help the economy and banks weather the 2007-2009 financial crisis, and turned the bulk of it over to the U.S. Treasury.
The U.S. debt situation is at a tipping point, Dallas Federal Reserve Bank President Richard Fisher said on Tuesday, and urged the U.S. central bank to refrain from any further stimulus measures.
The Supreme Court let stand a ruling that the U.S. Federal Reserve must disclose details about its emergency lending programs to banks during the financial crisis in 2008.
The Supreme Court let stand on Monday a ruling that the U.S. Federal Reserve must disclose details about its emergency lending programs to banks during the financial crisis in 2008.
RBC Capital Markets anticipates a dividend increase from SunTrust Banks Inc. (NYSE: STI) to come either in the second quarter or the third quarter of 2011. The brokerage expects the quarterly dividend to go to 8 cents a share (about 20 percent payout).
US stocks ended higher on Friday as sentiment was buoyed after Libya announced a cease-fire and the Group of Seven (G-7) Finance ministers agreed to intervene in the markets to stabilize the Japanese yen.
