CHARLOTTE, North Carolina - Further monetary stimulus is unlikely to do much to help the U.S. economy and the risks of pressing ahead with the policy outweigh the benefits, a top Federal Reserve official said on Monday.
Recent Business News
- Improvements in the U.S. job market make reductions to the Federal Reserve's massive bond-buying program more likely, a top Fed official said on Monday, suggesting the central bank could start small and reassess in the first half of 2014.
WASHINGTON - The Securities and Exchange Commission's top accountant on Monday urged accounting firms to think carefully before acquiring non-audit related consulting businesses, warning such moves could damage their independence and credibility.
- Struggling teen apparel retailer Abercrombie & Fitch Co said it will extend Chief Executive Mike Jeffries' contract by at least a year after it expires in February, days after a shareholder urged the company to replace him.
- A Republican member of the U.S. Securities and Exchange Commission blasted other government regulators on Monday for requiring JPMorgan Chase & Co to pay $13 billion to resolve allegations of mortgage misdeeds tied to the financial crisis.
Today's jobs report showed that the US economy added 203,000 jobs in November, and the unemployment rate fell to 7.0% for the first time since recession.