Ben Bernanke, the chairman of the Federal Reserve Bank, said the U.S. economy is likely to grow by 3 percent to 4 percent in 2011 (a faster expansion than in 2010), but that such growth will not be sufficient to reduce unemployment to acceptable levels.
The U.S. economy should grow around 3 percent to 4 percent this year, a healthier clip than in 2010, but not enough to bring down unemployment as much as policymakers would like, Federal Reserve Chairman Ben Bernanke said on Thursday.
The U.S. economy should grow around 3 percent to 4 percent this year, a healthier clip than 2010, but not enough to bring down unemployment as much as policymakers would like, Federal Reserve Chairman Ben Bernanke said on Thursday.
Stock rallied as banks/financials stocks pushed higher following an upgrade of the sector by Wells Fargo and a successful bond offering in Portugal.
The battered U.S. labor market may finally be looking up, according to a report from the Federal Reserve that found modestly better job conditions across the country.
The American economy closed out 2010 on a relatively strong note, suggesting an improving economy for this year, according to the Federal Reserve’s “Beige Book” report, a nationwide survey of economic conditions.
Summary of Fed Beige Book, January 12, 2011
The U.S. economy strengthened as the year drew to a close, according to a report from the Federal Reserve on Wednesday that cited rising employment levels across the country.
The U.S. economy strengthened as the year drew to a close, according to a report from the Federal Reserve on Wednesday that cited rising employment levels across the country.
The S&P 500 Index gained 3.69 points, or 0.29 percent, to trade at 1,278.17 at 9.30 a.m. EDT. The Dow Jones Industrial Average rose 32.93 points, or 0.28 percent, to trade at 11,704.81. The Nasdaq Composite Index advanced 11.50 points, or 0.42 percent, to 2,728.49.
The extra fiscal stimulus in the form of tax cuts approved in December could produce a 4 percent growth rate for the U.S. economy in the first half of 2011, but there are lingering risks that could lead to a cold shower in 2012, according to the American Enterprise Institute (AEI).
The U.S. Federal Reserve's aggressive bond-buying plan could soon backfire unless the central bank gradually changes course to head off inflation, a top Fed official known for his hawkish stance said on Tuesday.
Directors of Federal Reserve banks in Dallas and Kansas City again requested, unsuccessfully, a 0.25 percent rise in the rate charged to banks for emergency loans, minutes of Fed meetings in November and December showed on Tuesday.
Topics of this interview include Scott Carter highlighting the global dynamic of today's interest in gold, and how macro-economic trends continue to drive the decade long bull market of the precious metals. We also evaluate the possibility of seeing QE3 in 2011.
Statistics released by the People’s Bank of China on Tuesday showed the Chinese forex kitty is bursting at seams with an 18.6 percent growth in 2010 which made it zoom to a record $2.85 trillion.
The Federal Reserve's $600 billion bond-buying program helped solidify a shaky economic recovery and looks increasingly set to run its course, two top Fed officials indicated on Monday.
The Federal Reserve is turning over a record $78.4 billion to the U.S. Treasury Department after its swollen securities portfolios generated big profits in 2010, the central bank said on Monday.
A top Federal Reserve official said he would set the bar very high for the central bank to stop short in its planned $600 billion in bond purchases, but that the Fed may need to begin considering a reversal of policy by year end.
Many of the U.S. economic indicators, including the unemployment data on Friday, over the past few weeks have given rise to the false belief that the economy is finally improving.
Data showed on Monday the Chinese trade surplus narrowed in December, easing the conflict between Beijing and Washington over rising U.S. trade deficit even as Chinese President Hu Jintao is scheduled to meet President Obama in the White House on January 19.
One thing's for sure: no one at the Federal Reserve is leaping out of their chair to defend the central bank's mandate to ensure full employment from proposals it focus solely on delivering price stability.
The United States and its leaders are stuck in their own Catch 22. They need the economy to improve in order to generate jobs, but the economy can only improve if people have jobs. They need the economy to recover in order to improve our deficit situation, but if the economy really recovers long term interest rates will increase, further depressing the housing market and increasing the interest expense burden for the US.
