Tag: Federal Reserve

Monday, June 1st 2015 - 06:50 UTC
US economy shrinks 0.7% in first quarter; harsh winter partly to blame

The US economy shrank 0.7% in the first three months of 2015, compared to the same period last year. The Bureau of Economic Analysis significantly revised down its earlier economic growth estimate of 0.2%.
Sunday, May 24th 2015 - 07:57 UTC
Yellen, confident in the US economy, said interest rates will be raised this year

Federal Reserve Chair Janet Yellen made it clear on Friday that the central bank was poised to raise interest rates this year, as the US economy was set to bounce back from an early-year slump and as headwinds at home and abroad waned. The announcement was made in a speech to a business group in Rhode Island.
Thursday, May 21st 2015 - 07:08 UTC
Five world leading banks fined 5.7bn dollars for manipulating foreign exchange markets

Five of the world's largest banks are to pay fines totaling $5.7bn for charges including manipulating the foreign exchange market. Four of the banks - JPMorgan, Barclays, Citigroup and RBS - have agreed to plead guilty to US criminal charges, while the fifth, UBS from Switzerland will plead guilty to rigging benchmark interest rates.
Friday, May 8th 2015 - 08:13 UTC
Fed warns stock market levels present 'potential dangers', but sees “no bubbles forming”

The chair of the US Federal Reserve, Janet Yellen, has warned stock market levels present “potential dangers”, insisting current valuations, which have seen key US and UK indicators reach record levels, were “quite high”. However she did not see 'any bubbles forming'.
Thursday, April 30th 2015 - 01:24 UTC
Fed leaves interest rate at record low following two-day meeting

The US Federal Reserve has kept its target interest rate at a record low at the end of a two-day policy meeting in Washington, DC. The US central bank has indicated it will raise rates soon, as long as the US economy continued to grow, but the timing of the increase remains uncertain.
Friday, March 20th 2015 - 07:19 UTC
Brazil's Real drops to lowest since April 2003; loss of 17% against the dollar this year

No end to Brazil's economic woes: the Brazilian currency depreciated 2.7% on Thursday, at 3.30 Reales to the US dollar, its worst performance since April 2003. With this loss of ground the Real cut short a three day recovery, because since last Monday it had been climbing against the greenback.
Thursday, March 19th 2015 - 07:55 UTC
Fed no longer 'patient' about rates, but drops April and targets June

The U.S. Federal Reserve says it can no longer remain “patient” about changing rates, an indication that interest rate hikes could begin this spring. But in a news conference, Fed chair Janet Yellen said the central bank has not settled on the timing of the rate hike.
Friday, March 13th 2015 - 13:06 UTC
Santander and Deutsche banks fail a US Fed Reserve “stress test”

Spain's Santander and Deutsche Bank have failed a US “stress test” designed to assess whether lenders can withstand another financial crisis. The review, carried out by the Federal Reserve, gauges whether the biggest banks operating in the US have the “ability to lend to households and businesses even in times of stress”.
Tuesday, March 3rd 2015 - 06:24 UTC
Dollar on Monday at an eleven year peak against major currencies

The dollar rose on Monday against major currencies touching an 11-year peak. The Euro, which has been in an extended slump, had been up by as much as a third of a percent against the dollar but surrendered gains and traded near unchanged at just under $1.12.
Friday, February 20th 2015 - 04:34 UTC
Fed latest minutes indicate “patience” prevails before a rise in interest rates

Officials at the United States Federal Reserve are unlikely to raise interest rates soon, the latest minutes from the bank's January meeting have revealed. Policymakers worried about lower-than-expected inflation as well as slow wage growth in the US economy, the world's largest.