PRESS DIGEST- Financial Times - Sept 28
Sept 28 The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
HALF MOON BAY, Calif. Jan 14 The Federal Reserve, which eased monetary policy last year by launching a new asset-purchase program, has calibrated monetary policy appropriately, a top Federal Reserve official said on Monday.
"We are facing difficult situations -- I wish growth was faster, I wish unemployment would come down faster as well -- but I think we've got the policy position right," John Williams, president of the San Francisco Federal Reserve Bank, told reporters on the sidelines of a technology-focused conference here. "I think it's appropriate, right where it is."
Williams cited both the Fed's open-ended bond-buying program -- now at $85 billion a month -- and its decision last month to tie its low-rate policy to specific economic conditions.
He said he expects the U.S. unemployment rate to fall to 6.5 percent -- the threshold at which the Fed will revisit its low-rate policy, as long as the inflation outlook does not hit 2.5 percent before then -- in the second half of 2015.
* Prepa to begin implementation of infrastructure vision with the order of Puerto Rico Energy Commission
* First Internet Bancorp announces pricing of $25 million of subordinated notes