WASHINGTON - The Federal Reserve on Wednesday reaffirmed it was in no rush to raise interest rates, even as it upgraded its assessment of the U.S. economy and expressed some comfort that inflation was moving up toward its target.
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NEW YORK - A federal judge on Wednesday ordered Bank of America Corp to pay a $1.27 billion penalty for fraud over shoddy mortgages sold by the former Countrywide Financial Corp.
KOBE Japan - Bank of Japan board member Takahide Kiuchi said on Thursday the central bank should consider as a future option shifting the focus of its monetary policy to zero interest rates from asset purchases when it eyes an exit from ultra-loose policy.
Good news: the economy bounced back last quarter.