Tag: Federal Reserve

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.
Friday, January 17th 2014 - 07:09 UTC
US Congress wants action on banks involved in the commodities business

United States lawmakers are pressing the Federal Reserve to act more forcefully, and quickly, to limit banks’ involvement in the commodities business, which has been blamed for inflating prices on everyday items like electricity and canned beverages.
Saturday, January 11th 2014 - 11:04 UTC
President Obama names Stanley Fischer vice-chair of the Federal Reserve

US President Barack Obama Friday nominated former Israeli central bank governor and renowned economist Stanley Fischer as vice chair of the Federal Reserve, completing a shakeup of the board's leadership.
Thursday, January 9th 2014 - 06:59 UTC
Most Fed members agreed on December's stimulus reduction, indicate minutes

Federal Reserve members mostly agreed about a reduction in the central bank's stimulus efforts in December, meeting minutes released Wednesday reveal. The central bank announced a $10bn a month reduction in its bond buying program at the end of its December meeting.
Tuesday, January 7th 2014 - 05:58 UTC
Yellen confirmed as next Federal Reserve chairperson: Senate votes 56-26

Janet Yellen, a key force behind the Federal Reserve's unprecedented and controversial efforts to boost the US economy, was confirmed on Monday by the Senate to lead the central bank just as it begins to unwind that stimulus.
Thursday, December 19th 2013 - 06:01 UTC
Fed announces gradual conditioned tapering of stimuli from next January

The U.S. Federal Reserve will start scaling back its monthly bond-buying program as early as next month, but the reduction will be gradual. The Federal Reserve has been buying 85 billion dollars a month in government bonds in an effort to keep interest rates low and boost economic growth.
Thursday, December 19th 2013 - 05:55 UTC
US congress agrees budget deal reducing risk of government shutdown

On the same day the Federal Reserve announced tapering of stimulus, the US Senate passed a two-year budget deal to ease automatic spending cuts and reduce the risk of a government shutdown, but fights were already breaking out over how to implement the budget pact
Tuesday, December 17th 2013 - 17:10 UTC
Volcker rule making banking 'boring' (and limiting speculation) enforced in US financial system

All five US financial regulators have approved the Volcker rule, designed to restrict the finance industry in the wake of the 2008-09 financial collapse. Named after former Federal Reserve chairman Paul Volcker, it bans banks from using their own funds for trading activities and it is considered the centerpiece of the 2010 banking reform legislation known as Dodd-Frank.Banks will have until 21 July 2015 to comply with the rules.
Saturday, December 7th 2013 - 06:43 UTC
US November data on jobs triggers optimism in world markets and strengthens the dollar

Global equity markets surged and the dollar rose against the Yen after stronger-than-expected US jobs data gave investors confidence the economy is strong enough to withstand an expected reduction in Federal Reserve stimulus.
Saturday, November 23rd 2013 - 06:26 UTC
Minutes say US Fed plans to begin trimming stimulus in “the coming months”

The US Federal Reserve officials said they plan to begin trimming the central bank's stimulus efforts in “the coming months”. They believe that the US recovery is strengthening, according to minutes their October meeting.