Fed Chair Yellen fends off Republicans criticism of Fed’s efforts to boost economy

Federal Reserve Chairwoman Janet Yellen on Wednesday fended off Republican criticism of the central bank’s efforts to boost the economy, and repeated her warnings that proposals to rein in the Fed could compromise its independence. Ms. Yellen, testifying before the House Financial Services Committee, touted the economy’s improvement since the financial crisis, including a substantially lower jobless rate, but acknowledged that growth overall had been “quite disappointing.”…

‘No fixed timetable’ for U.S. rate hike as economy continues its recovery, said Yellen

Federal Reserve Chairwoman Janet Yellen on Wednesday said there is “no fixed timetable” for raising U.S. interest rates as the economy continues its recovery. Still, she made clear that rate increases are on the way, particularly since strong labor-market gains could push inflation above the central bank’s 2% target. “We expect to see solid job growth continue, but we do need, if things continue on their current course, to gradually remove the accommodation that is there.”…

Yellen’s seemingly dovish comments may set the stage for U.S. Dollar gains

An index of global stocks on Wednesday charged to its highest point since the start of the year, while the dollar weakened, as easing concerns about rising interest rates led investors into riskier assets. Oil prices climbed, as commodities denominated in dollars became more attractive to users of other currencies. U.S. Treasury prices fell with […]

Top 10 Weekly Forex Market Headlines – 2.27.2015

1. Ukraine says Russian separatists continue to attack despite cease fire February 23, Ukrainian Prime Minister Arseniy Yatsenyuk said Saturday that his country is not on the verge of collapse and that Russian-backed separatists continue to attack Ukrainian soldiers despite a recent cease fire agreement. “We are very far from a collapse,” Yatsenyuk told Fox […]

Top 10 Weekly Forex Market Headlines – 09.19.2014

1. Ukraine parliament ratifies EU deal, offers rebels self-rule September 16, Ukraine ratified a sweeping agreement with the European Union on Tuesday – an issue at the heart of the Russia-West crisis over its future – and sought to blunt the independence drive of Russian-backed separatists by offering them temporary and limited self-rule… 2. China’s […]

Yellen to debut at Jackson Hole: Will she drop any clues?

(Reuters) – Flashes of illumination rather than fireworks are expected at this week’s annual meeting of top central bankers and economists in Jackson Hole, Wyoming. Few predict anything so momentous as the speech by Federal Reserve chairman Ben Bernanke two years ago that paved the way for an unprecedented $85 billion per month stimulus plan. […]

Fed not likely to raise rates until June 2015, Reuters poll shows

(Reuters) – The U.S. Federal Reserve is expected to move in baby steps when it starts to bump up borrowing costs from a record low, but it won’t do so until the second quarter of next year, according to the latest Reuters poll of economists. Recent data on employment, manufacturing and services suggest the economy […]

Month In Motion – April~July 2014

Fed cuts another $10 billion, offers no hint on first rate hike

NEW YORK (CNNMoney) The U.S. economy is strengthening but the Federal Reserve remains in cruise control. The Fed decided to once again reduce its monthly bond purchases by $10 billion, as expected. The central bank has been gradually reducing, or tapering, its monthly bond purchases since January. It will now buy just $25 billion a […]

Dallas Fed chief sees rate hikes early next year ‘or potentially sooner’

(Wall Street Journal) – Federal Reserve Bank of Dallas President Richard Fisher said Wednesday that mounting signs of financial-market excess and continued economic growth mean the U.S. central bank will need to raise interest rates by early next year “or potentially sooner.” “Given the rapidly improving employment picture, developments on the inflationary front, and my […]

Yellen says she does see ‘pockets’ of increased risk-taking in U.S.

Federal Reserve Chair Janet Yellen said Wednesday that she doesn’t see a need for the Fed to start raising interest rates to defuse the risk that extremely low rates could destabilize the financial system. Yellen said she does see “pockets” of increased risk-taking…

Top 10 Weekly Forex Market Headlines – 04.18.2014

1. U.S. March retail sales increase 1.1%, hit 18-month high April 14, U.S. retail sales recorded their largest gain in 1-1/2 years in March, in the latest sign the economy was emerging from its weather-induced slumber and on track to accelerate in the second quarter. The Commerce Department said on Monday retail sales increased 1.1 […]

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