March 18, 2010 |
Wall Street sent stocks to new 17-month highs Wednesday on fresh signs of subdued inflation and expectations that interest rates would stay low. Investors were buoyed by assurances from the Federal Reserve that it would continue to keep in place some of the extraordinary measures used to pull the U.S. economy out of the deep recession. The Dow Jones index of 30 blue-chip stocks rose 47.69 points, or 0.4%, to 10,733.67, the highest since October 2008, to cap a string of small daily gains over the last seven sessions.
March 4, 2010 |
The economy improved in nine of the Federal Reserve's 12 regions in January and February while being hampered by snowstorms in the eastern U.S., the central bank said Wednesday. "In most cases the increases were modest," the Fed said in its Beige Book business survey, published two weeks before the Federal Open Market Committee meets to set monetary policy. Consumer spending increased in many regions, while commercial real estate and loan demand were "weak" and labor markets "soft," the Fed said.
January 14, 2010 |
The U.S. economy improved in 10 of the Federal Reserve's 12 districts last month, marking a broadening of the recovery, the central bank said today. "While economic activity remains at a low level, conditions have improved modestly further," the Fed said today in its Beige Book business survey, published two weeks before the Federal Open Market Committee meets to set monetary policy. The Philadelphia and Richmond Fed districts reported "mixed conditions." The beige book offers anecdotal evidence that will help central bankers weigh developments in an economy where unemployment is projected to remain above 10 percent through the first half of the year.
April 30, 2009
The Federal Reserve issued this statement Wednesday: Information received since the Federal Open Market Committee met in March indicates that the economy has continued to contract, though the pace of contraction appears to be somewhat slower. Household spending has shown signs of stabilizing but remains constrained by ongoing job losses, lower housing wealth, and tight credit.
March 26, 2008 |
James Bullard will take over as president of the St. Louis Federal Reserve Bank on Tuesday, succeeding William Poole, who is retiring, the bank said. Bullard, 47, is vice president and deputy director of research for monetary analysis at the regional Fed bank and has been with its research department for more than 18 years. His appointment as Poole's successor was approved by the Fed's Board of Governors, the bank said. Like Poole, he will not have a vote on the Fed's policymaking Federal Open Market Committee this year.