Tag: Janet Yellen

• Monday, March 2nd 2015 - 05:58 UTC

  US economy slowdowns in last quarter, but for Wall Street it remains strong

  

  The slowdown in the US economy at the end of last year was more pronounced than previously thought, official figures have shown. The world's largest economy grew at an annual pace of 2.2% between October and December, against a previous estimate of 2.6%, the Commerce Department said.

• Thursday, January 29th 2015 - 08:41 UTC

  Federal Reserve pledges to be 'patient' on raising interest rates from record lows

  

  The U.S. Federal Reserve on Wednesday after a two-day meeting reiterated its pledge to be patient and hold off on raising interest rates from the record low levels they’ve been at for the last six years. The Fed also pointed out it was watching “international developments” closely.

• Thursday, November 20th 2014 - 04:29 UTC

  Fed minutes confirm reveal consensus on ending stimulus program

  

  Although the US Federal Reserve was worried about turmoil in emerging markets, the central bank reached an easy consensus to end its stimulus program, its latest minutes reveal.

• Sunday, October 19th 2014 - 07:27 UTC

  Yellen warns about the rich-poor gap in the US, at a near 100-year high

  

  Federal Reserve chief Janet Yellen warned Friday that the gap between the rich and poor in the United States is widening and has reached a near 100-year high. In a speech at a conference on inequality in Boston, the Fed chair did not mention monetary policy nor the current turmoil in financial markets. Instead, she focused on the widening wealth disparity and how that impacts economic opportunity.

• Thursday, October 9th 2014 - 07:17 UTC

  “Easy money” will be around for some time still, say Fed's minutes

  

  US markets rose sharply after minutes from the September meeting of the Federal Reserve were released. The transcript indicated that US central bankers were wary of raising rates too soon. Officials were worried markets were too focused on a rate rise happening during a specific period of time.

• Saturday, October 4th 2014 - 10:06 UTC

  US unemployment falls to 5.9%, the lowest since July 2008

  

  The US unemployment rate dipped to 5.9% in September, a six-year low, official figure has shown. The rate fell from 6.1% in August and is the lowest recorded since July 2008. US Labor Department also said that employers added 248,000 jobs last month, and the job growth figures for August and July were revised upwards.

• Thursday, September 18th 2014 - 05:30 UTC

  Fed evasive about when it will begin to raise interest rates, “considerable time”

  

  The US Federal Reserve has reiterated that it will raise interest rates once a “considerable time” has passed after its stimulus program ends in October. The announcement came at the end of a two-day meeting of the central bank's policy committee in Washington DC.

• Thursday, September 11th 2014 - 15:46 UTC

  Ana Botin appointed new chairwoman of Spanish banking giant Santander

  

  Ana Botin has been appointed the new chairwoman of the Spanish banking giant Santander, following the death of her father, Emilio Botin, who died of a heart attack on Tuesday night.

• Saturday, August 23rd 2014 - 06:18 UTC

  Yellen insists with expansive policies despite growing pressure from 'hawks' on interest rate

  

  Federal Reserve Chair Janet Yellen said Friday that the US jobs market has not yet fully recovered, but acknowledged that data is sending mixed signals, spurring debate over inflationary pressures. In a speech to leading central bankers in Jackson Hole, Wyoming, Yellen, who has kept Fed policy expansive due to perceived excess slack in the jobs market, gave no clear new signs for monetary policy.

• Thursday, July 31st 2014 - 07:13 UTC

  Fed further tapers bond-buying program but concerned with labor market

  

  The Federal Reserve said on Wednesday that US growth in economic activity rebounded in the second quarter and labor market conditions improved, with the unemployment rate declining further. However, a range of labor market indicators suggests that there remains significant “underutilization of labor resources”.