The new Fed chair faces the challenge to either resist or go along with conventional wisdom to hold the line on interest rates.» Read More
The Fed must ensure its forward guidance is flexible enough to allow it to respond to changing conditions, a top Fed official said.
HONG KONG, April 4- Political gridlock is slowing U.S. economic growth, impacting the confidence and budgets of businesses across the country, a top Fed official said here on Friday. Dallas Federal Reserve Bank President Richard Fisher took a swipe at U.S. politicians and their inability to cooperate, and accused them of impeding jobs growth.
LONDON, April 4- European shares looked set to rise for a ninth consecutive session and record their third straight weekly gain on Friday as traders bet on further support from U.S. jobs data due later in the day. Budget airline Easyjet rose 1.3 percent as it reported a 4.8 percent increase in passengers in March, in what traders describe as a positive update.
WASHINGTON, April 4- The U.S. economy likely created jobs at the fastest pace in four months in March as it shifted into a higher gear after being held back by a brutally cold winter. "It's looking like the economy is in the process of reaccelerating after a very severe winter," said Robert Dye, chief economist at Comerica in Dallas.
Federal Reserve must avoid being locked into calendar-based policy commitments and instead ensure its forward guidance is flexible enough to allow it to respond to changing conditions, a top Fed official said in Hong Kong on Friday.
NEW YORK, April 3- Federal Reserve Governor Jeremy Stein, who has spearheaded the debate over whether monetary policy should be used to combat asset bubbles, will step down next month, leaving another big hole in the ranks of the U.S. central bank. Stein will leave on May 28 to return to his teaching post at Harvard University.
NEW YORK, April 3- Longer-dated U.S. The Labor Department said initial claims for unemployment benefits increased 16,000 to a seasonally adjusted 326,000 in the week ended March 29, exceeding economists' expectations of a rise to 317,000..
NEW YORK, April 3- The euro dropped on Thursday after the European Central Bank kept interest rates on hold and pledged to use unconventional monetary measures if needed to battle low inflation in the euro zone.
LONDON, April 3- Gold fell on Thursday as the dollar firmed after the European Central Bank kept rates on hold and pledged to use unconventional measures to combat low inflation, while an expected improvement in U.S. jobs data remained the main focus. Gold futures for April delivery fell $7.70 to $1,283.10 an ounce.
The Labor Department said initial claims for state unemployment benefits increased 16,000 to a seasonally adjusted 326,000 in the week ended March 29, exceeding economists' expectations of a rise to 317,000..
NEW YORK, April 3- The euro dropped on Thursday after the European Central Bank kept interest rates on hold and pledged to use unconventional measures if needed to battle low inflation in the euro zone. The currency shared by 18 nations dipped as low as $1.3736 during a news conference by ECB President Mario Draghi and later declined as low as $1.3711.
CNBC's Rick Santelli discusses the latest action in Treasury yields, and euro reaction to the ECB's interest rate decision.
LONDON, April 3- Gold fell on Thursday as the dollar firmed after the European Central Bank left rates on hold as expected, and investors shifted their focus to the central bank's press conference and expectations that U.S. data will show an improvement. Gold futures for April delivery fell $7.40 to $1,283.20 an ounce.
LONDON, April 3- Gold edged down on Thursday, as investors marked time ahead of the European Central Bank's monthly policy meeting and the release of U.S. jobs data that should provide clues about the strength of the economy. Gold futures for April delivery fell $4.50 at $1,286.10 an ounce.
"Given the economic outlook, and given also my view that we need accommodative policy relative to historical norms, we need to have relatively low levels of interest rates for quite some time," San Francisco Federal Reserve Bank President John Williams told Reuters.
ST. LOUIS/ MIAMI, April 2- Two top policymakers said on Wednesday the Federal Reserve was in no rush to raise interest rates and would have to see improvements in the U.S. economy to do so.
NEW YORK, April 2- U.S. The fact that the data did not disappoint pushed yields higher on the day, said Lou Brien, market strategist at DRW Trading in Chicago. In a separate report, Commerce Department data showed new orders for manufactured goods jumped 1.6 percent in February, the biggest rise since September.
NEW YORK, April 2- The dollar touched a 10- week high against the Japanese yen on Wednesday as the greenback rallied on reports signalling U.S. businesses are shaking off a chill on hiring and factory orders from harsh winter weather. "The ADP report, especially the upward revision, was read as a USD positive signal" said Bryan Zarnett, currency strategist at Citi.
NEW YORK, April 2- U.S. "The upward revision certainly increases the chance of a strong number on Friday," said Ellis Phifer, market strategist at Raymond James in Memphis, Tennessee.
NEW YORK, April 2- The dollar was little changed against a basket of major currencies on Wednesday after private payrolls data showed U.S. businesses shaking off some of the chill on hiring left by harsh winter weather.