Tag: Federal Reserve

• Thursday, May 1st 2014 - 06:58 UTC

  Fed optimistic about US economy; pares securities purchases by another 10bn dollars

  

  The Federal Reserve looked past a dismal reading on first quarter US growth and gave a mostly upbeat assessment of the economy's prospects as it announced another cut in its massive bond-buying stimulus. Latest information indicates that economic activity has picked up after having slowed sharply during the winter in part because of adverse weather conditions, the central bank said on Wednesday.

• Friday, March 28th 2014 - 06:31 UTC

  US Fed rejects Citigroup plans to boost dividends for shareholders

  

  US Federal Reserve has rejected plans by Citigroup to buy back shares and boost dividends for shareholders. It cited deficiencies in the bank's ability to plan for how stressful situations would hurt its business. The decision is a setback for Citigroup boss Michael Corbat who was brought in to bolster internal controls after the bank failed stress tests two years ago.

• Thursday, March 20th 2014 - 03:26 UTC

  US Fed hints interest rates could start to rise in early 2015 as jobs picture improves

  

  The US Federal Reserve Chair Janet Yellen hinted on Wednesday that interest rates in the US could start to rise in early 2015, that is six months after it halts its monthly bond-buying program. Ms Yellen made the remarks after the Fed said it will scale back bond purchases by a further 10bn dollars per month.

• Friday, February 28th 2014 - 02:36 UTC

  Fed asks US Congress to look into legal option for regulating virtual currencies such as bitcoin

  

  The US Congress should look into legal options for regulating virtual currencies such as bitcoin, said Federal Reserve Chair Janet Yelleny. Japan-based bitcoin exchange Mt. Gox went dark leaving customers unable to access their accounts. Experts have warned they might not have much recourse to recover their money.

• Thursday, February 20th 2014 - 04:18 UTC

  IMF concerned with risks in emerging markets from pulling back stimulus too quickly

  

  Advanced economies, including the United States, must avoid pulling back stimulus too quickly given the weak global economic recovery and recent market volatility highlights key risks in some emerging markets, the International Monetary Fund said on Wednesday.

• Wednesday, February 19th 2014 - 04:44 UTC

  Fed adopts tighter new rules for foreign banks to shield US taxpayers

  

  The US Federal Reserve adopted tight new rules for foreign banks to shield the US taxpayer from costly bailouts, ceding only minor concessions despite pressure from abroad to weaken the rule.

• Tuesday, February 11th 2014 - 23:53 UTC

  Yellen confirms Bernanke approach: labor market recovery “far from complete”

  

  Federal Reserve Chair Janet Yellen said on Tuesday the US central bank was on track to keep reducing its policy stimulus, even as she acknowledged the labor market recovery was “far from complete.”

• Tuesday, February 4th 2014 - 09:00 UTC

  Yellen is sworn in as chair of Federal Reserve; Bernanke returns to academia

  

  Janet Yellen on Monday was sworn in as chair of the Federal Reserve, the US central bank, replacing Ben Bernanke in the role. She is the first woman to hold the post at the Washington-based bank.

• Saturday, February 1st 2014 - 04:04 UTC

  IMF calls on central banks to coordinate liquidity conditions; fears funding crunch

  

  The International Monetary Fund urged central banks to ensure that a financial market rout in the developing world does not lead to an international funding crunch. An IMF spokesman said some emerging market countries need to take “urgent action” to improve their economies, which are under threat by a recent sell-off in markets from India and Turkey to Brazil.

• Wednesday, January 29th 2014 - 21:07 UTC

  Fed shaves another 10bn from stimulus; Turkey and South Africa raise rates

  

  The US Federal Reserve announced a $10bn reduction in its monthly bond purchases from 75bn to 65bn in the second straight month of winding down stimulus efforts. The central bank had been buying bonds in an effort to keep interest rates low and stimulate growth.