The Federal Reserve will watch the U.S. economy's progress through autumn and into 2011 as it decides how long it will hold interest rates at ultra-low levels, a top Fed official said on Tuesday.
The Federal Reserve will watch the U.S. economy's progress through autumn and into 2011 as it decides how long it will hold interest rates at ultra-low levels, a top Fed official said on Tuesday.
The Federal Reserve will watch the U.S. economy's progress through autumn and into 2011 as it decides how long it will hold interest rates at ultra-low levels, a top Fed official said on Tuesday.
The non-partisan Congressional Budget Office on Monday put the cost of the Federal Reserve's emergency support program for the U.S. financial industry during the 2007-2009 crisis at about $21 billion.
The U.S. Federal Reserve does not expect to sell any of the billions of dollars worth of assets it bought to boost the economy in 2009 until it has started raising interest rates in a strong recovery, it said in its 2009 annual report released on Monday.
Keeping expectations of future price levels intact is vital, especially when interest rates are very low, the Federal Reserve's number two official said on Friday.
With the market extra sensitive to any negative news at present yesterdays shock 7% drop in the Westpac Consumer Confidence report for May sent the Aussie plummeting in local trade.
Europe's debt crisis poses a potentially serious risk to the U.S. economic recovery because it threatens global credit markets and large American banks, a top Federal Reserve official said on Thursday.
Europe's debt crisis poses a potentially serious risk to the U.S. economic recovery because it threatens global credit markets and large American banks, a top Federal Reserve official said on Thursday.
The Federal Reserve raised its forecasts for economic growth and debated eventually selling mortgage debt, according to minutes of an April meeting that offered no hints of imminent changes in monetary policy.
The Federal Reserve raised its forecasts for U.S. economic growth and discussed strategies for eventually selling mortgage assets at their last meeting in April, minutes of the gathering released on Wednesday showed.
Europe's debt crisis shows the risks for the United States if it does not get its budget deficits under control, former Federal Reserve Chairman Paul Volcker said on Tuesday.
Keeping interest rates low for a long time can create ripe conditions for dangerous asset price bubbles, a Federal Reserve official said in a Wall Street Journal interview published on Saturday.
The Federal Reserve's promise to hold interest rates ultra low for an extended period depends on economic conditions and could change if the recovery picks up, central bankers said on Thursday.
The Federal Reserve scored a victory and mortgage bankers suffered a defeat on Wednesday as the Senate took aim at bank supervision and housing finance in its sprawling Wall Street reform effort.
The Federal Reserve scored a victory and mortgage bankers suffered a defeat on Wednesday as the U.S. Senate took aim at bank supervision and housing finance in its sprawling Wall Street reform effort.
Federal Reserve Chairman Ben Bernanke on Tuesday described the Greek debt crisis to lawmakers as a European dilemma but one that could have hit U.S. banks if left unattended, senior senators said.
The Senate rejected an amendment on Tuesday that would have exposed the Federal Reserve to broader scrutiny by Congress, which critics said would extend to monetary policy decisions.
The Senate on Tuesday approved a proposal to examine the Federal Reserve's role in the Wall Street bailouts of 2008-2009 as part of a broad financial regulation reform bill.
U.S. policy-makers must not wait too long to raise interest rates with inflation unlikely to stay at low levels as the economic recovery picks up steam, a top Federal Reserve official said on Tuesday.
A top Federal Reserve official warned on Tuesday that economies around the world must further rebalance their inward and outward capital flows to prevent a repeat of the damaging crisis of 2007-2008.
The U.S. Federal Reserve reopened currency swap facilities with other major central banks on Sunday to help ease market strains in Europe.
