Following is the Federal Open Market Committee's statement on interest rate policy issued at the close of its meeting on Wednesday:
The price of Gold Bullion rallied from its lowest level since 28th Oct. early in London on Wednesday, but remained nearly $100 per ounce off Dec.'s all-time highs in what dealers called very quiet trade ahead of today's US Federal Reserve announcement on monetary policy.
The U.S. Federal Reserve gave a lukewarm economic assessment on Wednesday despite recent signs the recovery was strengthening, saying high unemployment still justified its $600 billion bond-buying program.
Full-text of FOMC policy statement of Jan. 26, 2011.
US stocks are trading mixed in early trade on Wednesday as declines from Boeing weighed on Dow, while investors and markets await the US Federal Reserve’s meeting and interest rate decision.
The main gold exchange-traded fund, the SPDR Gold Trust, recorded its biggest ever one-day outflow on Tuesday. The precious metal is taking some support from physical demand after its slide to its lowest since October 28, but buying interest remains lackluster.
Both Bush and Clinton Adminstrations were at fault, as well as former Fed Chairman Alan Greenspan and current Treasury Secretary Timothy Geithner, as well as former Treasury chief Henry Paulson, says inquiry
Futures on major U.S. indices point to higher opening on Wednesday ahead of the US Federal Reserve’s meeting and new home sales data.
The U.S. Federal Reserve began a two-day meeting on Tuesday that is expected to end with a nod to an improved economic outlook but no change in course on its $600 billion bond-buying plan.
Asian stocks rose on mild bargain buying after a sell-off last week, while the euro hovered near a nine-week high before a Fed meeting this week where it is expected to paint a cautious view of the world's biggest economy.
2011 will mark 40 years since the United States' government finally stopped redeeming its dollars for gold. That ended over 250 years of formal gold backing for the West's dominant currencies. It also took the entire world off precious-metal money for the first time in 5,000 years of civilization.
Europe's financial system is a mess right now compared to the US financial system. However, it doesn't have to be this way, according to hedge fund heavyweight David Tepper.
Jeffery Immelt, the chief executive of General Electric (NYSE: GR) will head a new advisory panel formed by President Barack Obama designed to promote economic growth in the country.
American Express Co reported quarterly earnings that narrowly missed Wall Street estimates and said it would cut 550 jobs as it handles more customer services on the Internet.
“Whether you’re very bullish or bearish, you should own some oil or energy equities,” said Marc Faber, publisher of the Gloom, Boom, and Doom report.
The equity markets of mature economies will outperform those of the emerging markets this year, said Marc Faber, publisher of the Gloom, Boom, and Doom report.
Manufacturing activity in the New York State expanded in January with the corresponding index posting its second consecutive positive reading.
Gold priced in US dollars rose for a second day on Tuesday. Reflecting the improved consumer appetite for gold in Asia, premiums for gold bars rose on Monday to hit another two-year high as jewelers from China rushed to buy ahead of the Lunar New Year, while purchases from the electronics sector helped stir up physical trading in Japan, dealers said.
PIMCO's Anthony Crescenzi , author of one of the few books on macroeconomic investing, speaks to IBTimes about his views on the broad economy and the tools he uses to monitor it.
Monetary policy cannot speed up labor market healing or prevent asset price bubbles, and counting on it to do so may do more harm than good, a top U.S. Federal Reserve official said.
Gold rebounded slightly on Monday from a one-percent fall in the previous session, after China further tightened its monetary policy to curb inflation, and holdings in the gold-backed exchange-traded fund continued falling.
The U.S. economy needs a far better footing before the Federal Reserve reverses its current policy, and even more stimulus may be needed if the housing market hampers the rebound, a top Fed official said on Friday.
