The US unemployment rate fell last month to its lowest rate since January 2009, figures from the Department of Labour have shown, surprising analysts who had been expecting a small rise.
Federal Reserve Chairman Ben Bernanke delivered a broad defence on Monday of the central bank's controversial bond-buying stimulus plan, saying its actions are necessary to support a flagging economic recovery.
Federal Reserve Chairman Ben Bernanke said on Friday progress in bringing down US unemployment was too slow and the central bank would act as needed to strengthen the economic recovery.
US consumer prices were flat in July for a second straight month and the year-over-year increase was the smallest since November 2010. In the 12 months to July the CPI rose 1.4%, slowing from June's 1.7% rise, the US Labour Department said on Wednesday.
Federal Reserve Chairman Ben Bernanke said that although broad measurements of the United States economy point to recovery, many people and businesses are facing tough times.
Federal Reserve Chairman Ben Bernanke on Tuesday offered few new clues on whether the US central bank was moving closer to a fresh round of monetary stimulus, even as he underscored his concerns over the economy's weakness.
The US Federal Reserve officials are open to the possibility of a new round of asset purchases, though the US economy may need to get weaker before any further action is taken.
Economic growth in the United States picked up over the last two months and hiring showed signs of a “modest increase,” the Federal Reserve said in a report that ran counter to a growing sense of economic gloom.
Chairman Ben Bernanke on Wednesday said US monetary policy was more or less in the right place even though the central bank would not hesitate to launch another round of bond purchases if the economy were to weaken.
The US Federal Reserve on Wednesday repeated its promise to leave interest rates on hold until at least late 2014 but offered few clues into whether it might offer additional stimulus later this year.