Economy News
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Bernanke says Fed likely to reduce bond buying this year
WASHINGTON - Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economy is expanding strongly enough for the central bank to begin slowing the pace of its bond-buying stimulus later this year. | Video
DoubleLine's Gundlach says Fed to cut bond-buying later in year: CNBC
NEW YORK - Jeffrey Gundlach, head of DoubleLine Capital LP, said Wednesday that the U.S. Federal Reserve is likely to reduce its bond purchases later this year and touted long-term Treasuries as a strong investment.
World Bank watching Fed, ready to respond
LONDON - The World Bank is concerned about the spillover effects on developing countries of a slowing of U.S. money creation and will move to provide affordable capital when borrowing costs rise, its president said on Wednesday.
Inflation data points to firming economy
WASHINGTON - A gauge of underlying inflation showed signs of stabilizing in May after a long decline, a potential comfort to Federal Reserve policymakers who want firmer prices.
Obama says Bernanke has 'stayed a lot longer' than he wanted at Fed
WASHINGTON - President Barack Obama hinted in an interview aired on Monday that he may be looking for a new chief of the U.S. Federal Reserve Bank, saying Ben Bernanke has stayed a lot longer than the current chairman had originally planned.
More investors hold bullish U.S. bond bets before FOMC: survey
NEW YORK - More investors raised their positions in longer-dated U.S. Treasuries holdings in the latest week in advance of the Federal Reserve's two-day policy meeting, according to a survey released on Tuesday.
Housing starts miss expectations, but overall tone upbeat
WASHINGTON - Housing starts rose less than expected in May, likely reflecting labor and material constraints, but the overall trend remained consistent with strength in the housing market.
IMF says to extend reach with online economics training
- The International Monetary Fund will make its training sessions on financial policy and debt sustainability available online this year to government officials worldwide, allowing it to reach a bigger audience at lower cost, it said on Wednesday.
Confidence of homebuilders jumps as recovery deepens
NEW YORK - Confidence among U.S. homebuilders surged in June, staging its biggest gain since 2002 in one of the strongest signs yet that the housing recovery is gaining traction. | Video
NY manufacturing growth picks up in June, details weak
NEW YORK - Growth in the New York state manufacturing sector picked back up in June, but the details were less encouraging as new orders and employment fell to their lowest levels in five months, a report from the New York Federal Reserve showed on Monday.
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Why low inflation may not prevent the Fed from reducing QE
Low inflation may not be enough to keep the Fed from tapering its bond-buying stimulus in coming months.
Illinois sets July 9 deadline for plan to fix pensions
SPRINGFIELD, Ill., June 19 - In the first sign of compromise after weeks of political impasse, Illinois lawmakers in a special session on Wednesday set up a rarely used conference committee in an effort to fix the state's woefully under-funded pension system.
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