TOKYO/ SYDNEY, July 23- The dollar held close to a six-week peak against a basket of currencies in Asian trade on Wednesday, as the euro edged down to touch a fresh 2014 low on the diverging interest rate outlook for the U.S. and euro zone.» Read More
The Federal Reserve hopes tough talk on inflation will do the job of moderating price increases, giving it room to avoid raising interest rates.
Stocks ticked higher Tuesday as the rally started in bank stocks and then filtered into the broader market.
Blue chips tried to muster an advance Tuesday, encouraged by a rally in bank stocks, but comments from Bernanke hung over the market like a cloud.
World stocks hit their lowest in almost two months, major government bonds tumbled and the dollar jumped after the Fed chief fired another warning on inflation.
Yes, it's good news that people appear to be buying homes again, but even the NAR admits they're buying homes in the areas where prices have fallen the most. More houses are becoming affordable, but prices are still in a downward spiral.
Back in 2006 the Pending Home Sales Index tracked closely with the real Existing Home Sales numbers, showing that contracts signed did in fact jibe with real closed sales. But come summer of last year (and the start of the credit crisis), you can see those lines diverge, and they’re still going.
Stocks opoened lower Tuesday after Federal Reserve Chairman Ben Bernanke said late Monday high energy prices risk increasing inflation.
The Federal Reserve will not allow inflation to get out of control and is aware of the danger that a weaker dollar could feed into higher prices, one of its top policy-makers said.
Small business owner confidence in the U.S. economy deteriorated to its lowest in 28 years, according to a survey released Tuesday.
Rising food and energy costs are still trickling through the economy, complicating the outlook for inflation, Boston Federal Reserve President Eric Rosengren said on Tuesday.
The worst of the credit crunch is over, but the Federal Reserve is likely to keep interest rates on hold for a long time despite a surge in oil prices, as the U.S. economy still has to prove it is stabilizing, money manager Bob Doll said on Tuesday.
Federal Reserve Chairman Ben Bernanke Monday sounded a warning over soaring energy costs and said the central bank would "strongly resist" any tendency for an inflationary psychology to take hold.
Treasury Secretary Henry Paulson declined to rule out intervening in currency markets to stabilize the dollar, but said strong economic fundamentals would "shine through."
President Bush said Monday a strong dollar was in the interest of the United States and the global economy, and that energy prices were high.
Lehman Brothers downgraded continental European stocks to "underweight" from "overweight," while raising U.S. equities to "overweight" from "underweight."
Japanese bank lending in May rose at its fastest annual pace in more than a year, as firms borrowed more to cover rising energy and material costs, but economists said the rise did not signal a stronger economy.
It seems like over the past few months, the media just can’t get enough of showing swanky celeb estates in foreclosure. "Look! They're in trouble just like everybody else!" They are not everybody else.
Not an ENTIRELY serious blog about the ECB, monetary policy and Eurozone rate prospects. Correction: an entirely UNserious blog in vague connection with the ECB and no connection with monetary policy at all. Although... you never know. (And, sorry: no juicy tales about Playgirl of the Month being introduced to spice up ECB monthly reports, either.)
I'm sitting outside an abandoned foreclosure in Manassas,VA today, and honestly I don't know what to make of this neighborhood. There are for sale and foreclosure signs literally on every block.
European stocks ended lower on Thursday, falling for a second day in a row after ECB President Jean-Claude Trichet left the door open to an interest rate hike in July.