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St. Louis Federal Reserve Bank President James Bullard said Friday he sees risks to further unconventional monetary easing by the U.S. central bank.
“There are risks to the balance sheet expansion policy, and you’ve got to balance those risks,” Bullard told CNBC. Get the full story »
Two senior Federal Reserve officials raised concerns about further monetary easing on Thursday but only one — one of the Fed’s most consistent policy hawks — expressed firm opposition to a move.
Kansas City Federal Reserve Bank President Thomas Hoenig, who has dissented against the U.S. central bank’s extremely easy money policies at every meeting policy-setting meeting this year, was blunt in stating distaste for further Fed help. Get the full story »
U.S. consumer credit outstanding declined for the seventh straight month in August as credit card debt continued to fall.
The Federal Reserve said Thursday that total outstanding credit, which covers everything from car loans to credit cards, fell by $3.34 billion after dropping $4.09 billion in July. Get the full story »
The Federal Reserve said Thursday that it issued an order against HSBC North American Holdings Inc. requiring the bank to improve company-wide risk management, including practices to prevent money laundering.
It said that within 30 days, the bank’s board must submit a plan for strengthening oversight of its compliance risk-management program. The plan must show how risk is being managed within and across business lines, legal entities and jurisdictions in which the bank operates. Get the full story »
The Federal Reserve should take further action to stimulate the economy, or risk letting it fall into a vicious cycle of joblessness and deflationary pressures, top Fed official said on Friday. Get the full story »
Federal Reserve Chairman Ben Bernanke said on Thursday the U.S. economic recovery remains disappointingly slow with unemployment too high.
The Fed has a role to play in returning the economy health, he told teachers at a town-hall event.
“We certainly have in the near term and the medium term…some very difficult challenges,” he said. Get the full story »
Oil prices slipped to near $74 a barrel Tuesday in Asia as traders looked to a key U.S. central bank meeting later in the day for possible new polices to help boost economic growth.
Benchmark crude for October delivery was down 59 cents, to $74.27, a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $1.20, to settle at $74.86, on Monday. Get the full story »
Bloomberg News | The Federal Reserve bought another $1.35 billion in of Treasurys as part of a program begun Aug. 17 to reinvest money from the mortgage securities to keep liquidity in the financial system. This brings the total Fed investment to $14.24 billion.
The U.S. economy has shown “widespread signs” of slowing over recent weeks, the Federal Reserve said Wednesday in a report suggesting the recovery was faltering along the East Coast and in the Midwest.
The Fed said in its Beige Book compilation of anecdotal reports that modest growth was the most common characterization of economic activity in Fed districts, primarily those in the western and middle portions of the country such as San Francisco, Dallas and Kansas City. Get the full story »
Federal Reserve Chairman Ben Bernanke said Friday that the Fed will consider making another large-scale purchase of securities if the slowing economy were to deteriorate significantly and signs of deflation were to flare.
Federal Reserve Bank of Chicago President Charles Evans said Tuesday the economic recovery is “extremely modest” but he believes it’s unlikely the economy will fall into a double-dip recession. Get the full story »
The viability of community banks is threatened by policies that have conferred “too big to fail” status on larger banks, reducing their cost of capital, Kansas City Federal Reserve Bank President Thomas Hoenig said on Monday.
Hoenig, in prepared testimony to a field hearing of the U.S. House of Representatives Subcommittee on Oversight and Investigations here, said the community bank model was still viable, especially if allowed to compete on an equal footing with larger banks. Get the full story »
The Federal Reserve said Monday that bank lending standards eased somewhat over the last three months while demand for business and consumer loans was largely unchanged.
In its quarterly Senior Loan Officer Survey, taken in July, the Fed found that tight lending conditions, which some economists have linked to the weak economic recovery, were starting to ease. Get the full story »
Federal Reserve policymakers are pondering ways to jump-start the economic recovery. The trick: making sure whatever they do or say doesn’t rattle Wall Street.
U.S. stocks closed higher Monday as investors anticipated reassuring words or action Tuesday by Fed Chairman Ben Bernanke and his colleagues on the Federal Open Market Committee. Asian shares were mixed in early trade Tuesday.
The dollar jumped against major currencies Monday as markets expect the Federal Reserve to restart economic stimulus programs.
The central bank will likely leave its federal funds rate near zero at its meeting Tuesday, but could sound plans to resume purchasing mortgage-backed securities or buying Treasury bonds. The central bank’s programs ended earlier this year when it appeared the recovery was proceeding well. Get the full story »
