*Top U.S. central banker stresses need for stimulus. NEW YORK, April 16- Persistently low inflation poses a more immediate threat to the U.S. economy than rising prices, Federal Reserve Chair Janet Yellen said on Wednesday, stressing that the U.S. central bank would be delivering policy stimulus for some time to come.» Read More
NEW YORK, April 16- U.S. stocks rose 1 percent on Wednesday, advancing for a third straight session as Federal Reserve Chair Janet Yellen reaffirmed the central bank's commitment to keeping interest rates low. Yahoo's shares rallied, giving a boost to the S&P 500.. The Nasdaq Composite Index jumped 52.06 points, or 1.29 percent, to close unofficially at 4,086.23.
The 4th U.S. Circuit Court of Appeals in Richmond, Va., sided with consumer groups Wednesday in their fight to reveal the identity of the manufacturer. In 2011, an unidentified manufacturer went to court to stop the Consumer Product Safety Commission from publishing online a complaint about a product the company makes.
WASHINGTON— A Federal Reserve survey shows economic growth picking up across most of the United States over the past two months as bitter winter weather subsided. Only Cleveland and St. Louis reported slower growth.
WASHINGTON, April 16- U.S. economic activity picked up in recent weeks as a weather-related drag lifted, the Federal Reserve said on Wednesday. Chicago reported that growth had picked up, while New York and Philadelphia said activity had rebounded from slowdowns related to severe weather earlier in the year.
NEW YORK, April 16- Federal Reserve Chair Janet Yellen said on Wednesday the U.S. economy appeared to be slowly moving toward full employment, but that it would need help from the central bank for some time to come. "I do think we are seeing very meaningful progress, although clearly... the goal has not been achieved at this point," she told the Economic Club of New York.
WASHINGTON, April 16- Bank of America Corp has held talks with the U.S. Justice Department to resolve a civil fraud probe into Merrill Lynch's sale of flawed mortgage securities ahead of the financial crisis, people familiar with the negotiations told Reuters.
NEW YORK— Federal Reserve Chair Janet Yellen said Wednesday that the U.S. job market still needs help from the Fed and that the central bank must remain intent on adjusting its policy to respond to unforeseen challenges.
NEW YORK, April 16- The length of time the Federal Reserve keeps its key interest rate near zero will depend on how far the U.S. economy remains from the central bank's employment and inflation goals, and how long it will likely take to meet them, Fed Chair Janet Yellen said on Wednesday.
NEW YORK, April 16- Federal Reserve Chair Janet Yellen prepared the following remarks for a speech on Wednesday to the Economic Club of New York. "Nearly five years into the expansion that began after the financial crisis and the Great Recession, the recovery has come a long way.
NEW YORK, April 16- The dollar edged lower against the euro for the first time in four trading sessions on Wednesday ahead of Federal Reserve Chair Janet Yellen's comments, but rose against the yen on signs of future buying of Tokyo stocks by Japan's state pension fund.
FARGO, North Dakota/ BANGOR, Maine, April 15- The U.S. "If you commit to keeping rates low even as the recovery is proceeding, even as we continue to recover, I think people have a sense, the Fed has the recovery's back," Minneapolis Federal Reserve Bank President Narayana Kocherlakota said at North Dakota State University.
FARGO, N.D., April 15- A top U.S. Federal Reserve official said on Tuesday he is interested in the fast-emerging bitcoin, although he scoffed at the idea that the virtual currency could replace the dollar.
FARGO, N.D., April 15- A top U.S. Federal Reserve official said on Tuesday he will "do what it takes" to get inflation to be around 2 percent, including raising rates sharply if prices unexpectedly start to spiral upward too quickly.
FARGO, N.D., April 15- The U.S. Federal Reserve is coming up short on its goals for both inflation and employment, a top Fed official said on Tuesday, and the central bank ought to do more to ensure they return to healthier levels.
April 15- U.S. health regulators have approved four Boston Scientific Corp implantable devices for heart patients, including a next generation of smaller defibrillators to treat abnormal heart rhythms, the company said on Tuesday.
The Fed should "explicitly" say it will keep rates near zero until the economy is within a year of reaching Fed goals, a policymaker said.
BANGOR, Maine, April 15- The Federal Reserve should "explicitly" state that it will keep interest rates near zero until the U.S. economy is within one year of reaching the central bank's employment and inflation goals, a top Fed policymaker said on Tuesday.
ATLANTA, April 15- The U.S. Federal Reserve is considering further steps to force big banks to hold more capital, and sees a case for other stability-enhancing measures for more shadowy areas of Wall Street as well, Fed Chair Janet Yellen said on Tuesday.
ST. LOUIS— Most years about this time, northern Illinois farmer Monty Whipple, like so many Midwest growers, would be riding high in his monstrous planter, kicking up dust while sowing corn in hundreds of acres. Farmers in other key corn-producing states— Iowa, Nebraska and Indiana— were equally idle, the USDA says.
WHITEHOUSE STATION, N.J.— Merck& Co. says the Food and Drug Administration has approved its new tablet for grass allergies, Grastek, for patients five to 65 years old. Merck, based in Whitehouse Station, N.J., will market the tablet in North America. Its partner, ALK-Abello, sells it in Europe as Grazas.