Economic activity kept slowly gaining strength as 2011 opened and manufacturers and retailers were having some success in pushing their prices up, the Federal Reserve said on Wednesday.
The tremendous rally in gold is a reflection of the poor job the Federal Reserve is doing and the market’s lack of confidence in the central bank and the US, said David Malpass, president of Encima Global, on Bloomberg TV.
U.S. stocks edged up higher on some positive jobs data and reassurance from the Federal Reserve that the economy is recovering.
Gold touched a record high above $1,440 an ounce on Wednesday, as a bullish confluence of political unrest in Libya, surging oil prices and easy monetary policies spurred safe haven buying.
March 2, 1011. Prepared at the Federal Reserve Bank of Atlanta and based on information collected on or before February 18, 2011.
“When inflation gets started, you don't particularly notice it,” said billionaire investor Warren Buffett on CNBC. “It's like a guy jumping out of a 50-story building. The first 45 stories he doesn't really notice a lot of changes in his circumstances. But eventually, [he hits] the ground.
Federal Reserve Chairman Ben Bernanke said on Wednesday a Republican spending cut plan would not cause a big dent to U.S. economic growth, but could cost around 200,000 jobs.
Futures on major U.S. indices point to modestly lower opening on Wednesday as investors eye economic data including ADP national employment report.
China may have more potential than ever to influence U.S. debt prices after data showed the country owns more than a $1 trillion in Treasuries, almost a third more than previously thought.
John Williams, the San Francisco Federal Reserve Bank's head researcher whose work suggests the Fed's bond-buying has helped restore millions of jobs, will succeed Janet Yellen to lead the regional Fed bank.
The following are highlights from Federal Reserve Chairman Ben Bernanke's testimony to the Senate Banking Committee on Tuesday on the central bank's semi-annual report on U.S. monetary policy.
The following are highlights from Federal Reserve Chairman Ben Bernanke's testimony to the Senate Banking Committee on Tuesday on the central bank's semi-annual report on U.S. monetary policy.
Gold jumped against a falling Dollar in London trade on Tuesday, touching $1,432.10 per ounce, one dollar above the all-time peak of 7th Dec. Silver marks a fresh all-time high at $34.44/oz, while Western stock markets fell and Brent crude oil rose towards new two-year highs.
Federal Reserve Chairman Ben Bernanke offered a fairly upbeat assessment of the U.S. economy on Tuesday, saying the recent surge in oil prices is unlikely to have a major effect on either growth or inflation, as long as higher prices do not become sustained.
Federal Reserve Chairman Ben Bernanke said both rounds of quantitative easing (QE1 and QE2) are working well, in the question and answer session of his testimony to Congress.
Federal Reserve Chairman Ben Bernanke remains unconcerned about inflation - perhaps rightly so - at a testimony in front of US lawmakers on Tuesday.
Federal Reserve Chairman Ben Bernanke's testimony to Congress on March 1, 2011.
“We have seen increased evidence that a self-sustaining recovery in consumer and business spending may be taking hold,” said Federal Reserve Chairman Ben Bernanke in a testimony to Congress.
Spot gold rose to a session peak at $1,421.35 an ounce and was up 0.6 percent at $1,419.66 an ounce by 1240 GMT. It rose 6 percent in February, its largest monthly rise since August, when the U.S. Federal Reserve first indicated that it would continue the massive money printing by monetizing government bonds.
US stocks advanced in early trade on Tuesday, the first trading day of March, after markets recorded third consecutive monthly gains in February.
Federal Reserve Chairman Ben Bernanke will likely remain skeptical about the strength of the economic recovery in testimony on Tuesday, despite recent data pointing to improvement, signaling the central bank is unlikely to cut short its $600 billion stimulus plan.
Gold was little changed near $1,410 an ounce on Monday but notched its biggest monthly gain since August as chaos in Libya and rising tensions across the Middle East prompted investors to buy the metal as a safe haven. The US dollar lost its status and is at November lows.
