Fed officials, hawk and dove, agree: no more easing
LOS ANGELES (Reuters) - Two top Federal Reserve officials - one with a dovish, employment-focused bent, and the other a self-avowed inflation hawk - on Monday both said they see no need for the central bank to ease monetary policy any further. But the comments, from San Francisco Fed President John Williams and Dallas Fed President Richard Fisher, do not mean they believe the central bank should quickly move to raise rates, which it has kept near zero for more than three years. The economy grew at a 2. ...
Spain concerns drag markets down
Concerns over Spain's financial condition weighed on markets Monday, after investors had initially bid up stocks on hopes that the Federal Reserve would provide more stimulus to the U.S. economy.
Asian shares gain on hopes U.S. data leaves scope for Fed easing
TOKYO (Reuters) - Asian shares rose on Monday as weaker-than-expected U.S. growth data left open the possibility for more monetary stimulus from the Federal Reserve, but trading was subdued with Japanese and Chinese markets closed. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.6 percent, drawing support from Australian shares which rose 0.7 percent on strength in the mining sector after copper prices hit a three-week high on Friday. At current levels, the pan-Asian index was set for a 0.1 percent monthly gain, after suffering a 3.2 percent drop in March. ...
Fed’s reassurance, earnings optimism lift shares
TOKYO (Reuters) - Asian shares rose on Thursday, retaining positive momentum as the Federal Reserve reassured markets it would keep its very accommodative stance to support growth, while optimism grew over strong quarterly corporate earnings. Investor confidence was also boosted by a rally in Apple Inc shares as it reported quarterly profits nearly doubling on the back of soaring iPhone sales in China, lifting tech-heavy Asian markets such as Taiwan and South Korea earlier in the day. ...
Fed stands pat but says will act if needed
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Wednesday said U.S. monetary policy was "more or less in the right place" even though the central bank would not hesitate to launch another round of bond purchases if the economy were to weaken. In a statement after a two-day meeting, the Fed's policy-setting panel reiterated its expectation that interest rates would not rise until late 2014 at the earliest, and it took no action on monetary policy. ...
Wall Street rallies as Apple soars, Fed on hold
NEW YORK (Reuters) - Stocks rose on Wednesday after Apple's blowout quarter overshadowed a drop in durable goods and further lifted optimism in an earnings season that has far outstripped expectations. In its latest policy statement, the Federal Reserve repeated its promise to leave interest rates on hold until at least late 2014, but gave few clues into whether it might offer additional stimulus later this year. Equities were little changed by the news. ...
Fed stays policy course, outlook a touch brighter
WASHINGTON (Reuters) - The Federal Reserve on Wednesday offered a modestly brighter assessment of the economy's prospects and few clues on the path of monetary policy, as it reiterated that interest rates likely will not rise until at least late 2014. The central bank described the economy as expanding moderately, just as it did in March, and said the unemployment rate had declined but remains elevated. In March, it had said the jobless rate had declined "notably." But its statement after a two-day meeting was slightly more upbeat than its March announcement. ...
Fed to stand pat, Bernanke briefing will set tone
WASHINGTON (Reuters) - The Federal Reserve began a two-day meeting on Tuesday that will likely show the central bank is slightly more upbeat on the economy but in little hurry to raise borrowing costs. Investors wishing for clues into the prospect of a further easing of monetary policy from the U.S. central bank may be disappointed. U.S. economic growth has been just firm enough to weaken the case for additional unconventional stimulus through Fed purchases of government or mortgage bonds. ...
Exclusive: JPMorgan poised to sell U.S. metal concentrate unit
SANTIAGO (Reuters) - JPMorgan Chase & Co is close to selling its U.S. metal concentrates trading arm and could announce a deal as early as Monday, two sources who were informed of the deal told Reuters this week. The divestment, while likely small in dollar terms, would come just months ahead of a deadline to sell off parts of the bank's enlarged commodity trading operation that do not meet Federal Reserve regulations. JP Morgan had two years to comply after it bought the bulk of RBS Sempra in 2010. ...
U.S. factory decline suggests economy losing steam
WASHINGTON (Reuters) - Output at U.S. factories slipped in March and builders started construction on fewer homes, offering cautionary signals for an economy that appeared to be gaining traction. Manufacturing output slipped for the first time in four months, dropping 0.2 percent, the U.S. Federal Reserve said on Tuesday. The decline dragged on overall industrial production which was unchanged and fell short of analysts' expectations. "It looks pretty bad on the face of it," said Tom Porcelli, an economist at RBC Capital Markets in New York. ...
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