Martin Lakos, Division Director at Macquarie Private Wealth, explains why the Fed is likely to continue tapering at current pace, despite better-than-expected nonfarm payrolls for the month of February.» Read More
WASHINGTON, Jan 30- Janet Yellen, the first woman to chair the Federal Reserve in its 100- year history, will take over the reins of the U.S. central bank on Saturday and formally be sworn in next week, the Fed said on Thursday. Yellen, 67, who begins her post as the Fed unwinds its unprecedented efforts to boost the U.S. economy, will be sworn in at 9 a.m. EST on Feb. 3.
CNBC's Steve Liesman reports Janet Yellen has officially been elected as Fed chair and will be sworn in Monday morning.
WASHINGTON, Jan 30- Janet Yellen, the first woman to chair the Federal Reserve in its 100- year history, will take over the reins of the U.S. central bank on Saturday but will only formally be sworn in next week, the Fed said on Thursday.
Jan 30- Ben Bernanke did not hesitate when asked whether he was confident that his signature response to the Great Recession would work. "Well, the problem with QE is that it works in practice but it doesn't work in theory," the head of the U.S. They have already led to a quadrupling of the Fed's balance sheet to $4 trillion.
WASHINGTON, Jan 30- Federal Reserve Chairman Ben Bernanke departs the U.S. central bank on Friday after eight largely turbulent years in which he guided the economy through the most virulent financial crisis and recession since the Great Depression. Oct. 24, 2005- President George W. Bush nominates Bernanke to be Fed chairman.
*Reduces monthly bond purchases by $10 billion, as expected. WASHINGTON, Jan 29- The Federal Reserve on Wednesday decided to trim its bond purchases by another $10 billion as it stuck to a plan to wind down its extraordinary economic stimulus despite recent turmoil in emerging markets.
The second round of Fed tapering announced Wednesday isn’t likely to boost rates, because investors are filling the void.
*Fed delivers expected cuts of $10 billion in monthly bond purchases. Federal Reserve cut $10 billion from its monthly bond-buying stimulus program. "From now and the next meeting, they will monitor the contagion risk from emerging markets to the U.S. economy," said Neil Dutta, head of U.S. economics at Renaissance Macro Research in New York.
*Reduces monthly bond purchases by $10 billion, as expected. WASHINGTON, Jan 29- The U.S.
Discussing the state of the global financial markets, and trouble in emerging markets, with PIMCO's Bill Gross.
Pimco's Bill Gross says his firm is disappointed Mohamed El-Erian is leaving the company, but "will go on and do very well."
PIMCO's Bill Gross expects an end to QE in October or early November of this year.
CNBC's Bob Pisani reports on how the Fed announcement that it will cut its bond purchases by another $10 billion is impacting the market. Rick Santelli provides insight on bonds.
Instant reaction to the Fed's decision to cut its bond purchases by another $10 billion, with Barry Knapp, Barclays, and Jack Ablin, BMO Private Bank.
WASHINGTON, Jan 29- The U.S. Fed Chairman Ben Bernanke, who hands the central bank's reins to Vice Chair Janet Yellen on Friday, also adjourned his last policy-setting meeting without making any changes to the U.S. central bank's other main policy plank: its longer-term plan to keep interest rates low for some time to come.
CNBC's Hampton Pearson reports the Federal Reserve has announced it will cut bond purchases by $10 billion to $65 billion per month.
CNBC's Steve Liesman provides a preview of the Fed's FOMC meeting today and the likely decision on reducing its QE program.
I think the Fed will stick to what they said and taper around $10 billion, says Beth Ann Bovino, Standard & Poor's chief economist, and Richard Steinberg, Steinberg Global Asset Management, providing their take on the Fed's likely course on tapering and interest rates after the departure of Ben Bernanke.
*Yen skids, Aussie soars as Turkey rate hike eases emerging market anxiety. TOKYO/ SYDNEY, Jan 29- The dollar gained on the euro and the yen on Wednesday after Turkey's sharp interest rate hike eased some fears about capital flight from emerging markets and as the U.S.
The Federal Reserve, as expected, reduced the pace of its monthly asset purchases Wednesday, but market reaction wasn't as predictable. CNBC's Jeff Cox and Patti Domm discuss.