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Bernanke: Economy still needs Fed’s stimulus, not cuts
Federal Reserve Chairman Ben Bernanke said Tuesday that the US economy still needs the Fed’s stimulus, and warned that looming steep budget cuts could further slow growth. Stressing that high unemployment remains the key challenge to the economy, Bernanke told a Senate panel that the central bank’s extraordinary $85 billion…
U.S. economy picked up in September: Fed
WASHINGTON — The US economy picked up in September despite weak momentum in consumer spending, a Federal Reserve survey of regional economies published Wednesday showed. In its Beige Book report, used for policy decisions, the Fed said that economic activity “generally expanded modestly” since the last report six weeks earlier,…
U.S. economy grew ‘modestly’ in September: Fed
The US economy grew “modestly” in September despite weak momentum in consumer spending, a Federal Reserve report published Wednesday showed. In its report known as the Beige Book, based on anecdotal information, the Fed said it was told “that economic activity generally expanded modestly since the last report” six weeks…
Federal Reserve sees tepid economy ahead of rate meeting
WASHINGTON — The US economy continued to grow at a tepid pace during the last two months, amid slight improvements in retail sales and the depressed housing market, the Federal Reserve said in a report Wednesday. “Economic activity continued to expand gradually in July and early August across most regions…
U.S. Federal Reserve official urges central bank to act on unemployment
Fed members increasingly concerned about economic recovery ahead of next jobs report and September policy meeting The Federal Reserve needs to take action now to bring down the jobless rate, a top Fed official said on Monday. Charles Evans, president of the Chicago Federal Reserve, said the central bank should…
Romney says he would replace Fed chief Bernanke
WASHINGTON — Republican presidential candidate Mitt Romney said Thursday that he would replace Federal Reserve Chairman Ben Bernanke if he wins election to the White House in November. Romney told Fox Business television that he wanted someone to lead the US central bank who is more in tune with his…
Fed sees weaker growth but holds off stimulus
WASHINGTON — The Federal Reserve downgraded its assessment of the US economy Wednesday, saying growth had slowed, but shied away from launching a fresh round of economic stimulus. “Economic activity decelerated somewhat over the first half of this year,” the Fed said at the conclusion of a two-day top-level meeting…
Fed expected to hold fire despite weak U.S. growth
WASHINGTON — The Federal Reserve’s top policy makers are expected to shy away from taking new economic stimulus measures when they meet Tuesday and Wednesday, instead waiting until the economic picture becomes clearer. The interest rate-setting Federal Open Market Committee will gather for a two-day meeting in Washington under the…
U.S. braces for make-or-break economic data
WASHINGTON — The United States is bracing for growth figures that will set the tone for the last 100 days of the race to the White House and help decide if the Fed pulls the trigger on more economic stimulus. Early Friday in Washington, the Commerce Department will release its…
Gloomy Fed pulls trigger on more economic stimulus
WASHINGTON — The Federal Reserve unleashed a fresh wave of economic stimulus Wednesday as it predicted subpar US growth would be even worse this year than thought. After a two-day meeting the Fed doubled down on a program to lower long-term borrowing costs, as it sharply revised down 2012 growth…
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