Economy News
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Bernanke offers no hint of pullback in Fed stimulus
WASHINGTON - The Federal Reserve's monetary stimulus is helping the U.S. economy recover but the central bank needs to see further signs of traction before taking its foot off the gas, Fed Chairman Ben Bernanke said on Wednesday.
Existing home sales highest in almost three-and-a-half years
WASHINGTON - Home resales rose in April to the highest level in nearly 3-1/2 years, which should support the housing sector and the overall economic recovery.
Analysis: As economy strengthens, a bonds sell-off may beckon
NEW YORK - The U.S. government bond market has weakened in recent weeks but some investment strategists fear that this may only be the beginning of an extended sell-off.
Too soon to dial back Fed stimulus: Dudley
- It is too soon to determine whether to dial down the Federal Reserve's massive bond-buying program, and the economic picture may not be clear enough to make that decision for another three or four months, an influential U.S. central bank official said. | Video
Fed's Bullard recommends euro zone consider QE
FRANKFURT - A top Federal Reserve official urged the European Central Bank on Tuesday to consider employing a U.S.-style quantitative easing program to counter slowing inflation and recession in the euro zone.
Fed's Bullard: don't see support for negative rates
FRANKFURT - There is not sufficient support to take interest rates into negative territory in the United States, a top Fed official said on Tuesday.
Debt limit resets at higher level, budget impasse grinds on
WASHINGTON - The government added $306 billion in new debt during a four-month suspension of the federal borrowing limit, the Treasury Department said on Monday, but there was no sign on Capitol Hill of any movement toward a budget compromise.
Fed could end bond buys in autumn if jobs outlook sure: Evans
CHICAGO - The Federal Reserve could continue full-speed ahead on its bond-buying program through the summer, but end it abruptly in the autumn if by then it is confident that the improvement in the jobs outlook is here to stay, a top Fed official said on Monday.
Fed's Williams does not comment on economic outlook, policy
- San Francisco Federal Reserve President John Williams did not comment on the outlook for the U.S. economy or monetary policy in an address on Monday to students graduating from the University of California, Berkeley.
IMF says Washington cutting budget deficits too quickly
WASHINGTON - The International Monetary Fund on Monday said the United States was getting carried away with a government austerity drive, offering some of the institution's bluntest criticism yet of Washington's rush to cut its budget deficit.
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NY's Poughkeepsie faces "severe fiscal stress" - Comptroller
NEW YORK, May 22 - Poor budgeting has left the New York city of Poughkeepsie facing "severe fiscal stress" and an $11 million budget hole as the city's debt spiraled 45 percent in the last five years, according to the state's top financial watchdog.
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