Tag: Federal Reserve

• Friday, July 31st 2015 - 05:59 UTC

  US economy expands at an annual 2.3% in 2Q; strong consumer spending

  

  The US economy grew at an annualized pace of 2.3% in the three months to June, official figures have shown. The figure - the first estimate of growth in the second quarter - followed an upwardly revised growth rate of 0.6% in the first three months of the year. The Commerce Department said growth was boosted by increased consumer spending and cheaper fuel prices.

• Friday, July 31st 2015 - 05:33 UTC

  Dollar in Chilean Pesos climbs to its highest level since December 2008

  

  The US dollar ended Thursday trading in the Chilean money exchange market at its highest since December 2008, that is 674 Pesos for the greenback. Currently and seven years ago the main reason has been the US monetary policy: the sub-prime crash in the US and fears of the debacle expanding to the rest of the world, and now growing chances of the Federal Reserve deciding on a rise of the prime rate.

• Thursday, July 30th 2015 - 09:04 UTC

  Fed pleased with labor market gains but inflation remains 'soft' distant from 2% target

  

  The United States Federal Reserve on Wednesday decided to leave its benchmark federal funds interest rate unchanged at between 0 percent and 0.25 percent, while it offered an optimistic assessment of the world's biggest economy and hinted that a rate hike remains on the short-term horizon.

• Friday, July 17th 2015 - 06:01 UTC

  Yellen says Fed remains on track to raise interest rates this year

  

  Federal Reserve Chair Janet Yellen said the US central bank remains on track to raise interest rates this year, with labor markets expected to steadily improve and turmoil abroad unlikely to throw the US economy off track.

• Thursday, June 18th 2015 - 06:58 UTC

  Fed ready for interest rate hike, but precise timing depends on jobs and inflation

  

  Citing an improving economy, the Federal Reserve signaled Wednesday it is most probably on track to raise historically low interest rates as early as September, but that rates are likely to climb more gradually than it previously

• Friday, June 5th 2015 - 06:22 UTC

  IMF calls on the Fed to keep rates on hold until first half of 2016

  

  The International Monetary Fund urged the Federal Reserve to wait until the first half of 2016 to start raising short-term interest rates because the US economy remains subpar. In its annual checkup of the US economy released Thursday, the IMF said “the underpinnings for continued growth and job creation remain in place.”

• 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'.