Even in a Thanksgiving holiday lull, financial markets are gearing up for a week of drama.» Read More
House Speaker Paul Ryan, R- Wis., praised the bill, saying that forcing the Fed to explain to the public how it makes decisions would give Americans greater confidence in those decisions. Bill Huizenga, R- Mich., said the measure provides the Fed with the flexibility necessary to conduct monetary policy "but holds the Fed accountable by requiring it to communicate its...
WASHINGTON, Nov 19- The U.S. House of Representatives on Thursday approved a bill that would make the Federal Reserve set interest rate policy using a mathematical rule, a proposal that has little chance of becoming law given a White House veto threat. The proposal now passes to the Senate where Obama's Democrats have the ability to stop most legislation despite...
The Fed seems intent on raising rates in December, says Ron Insana. That could leave some players exposed when the tide goes out, says Ron Insana.
If they don't raise rates they will send a 'terrible signal' to the marketplace, says Richard Fisher, former U.S. Federal Reserve Bank of Dallas president, sharing his thoughts on the Fed's policy decisions.
Salman Ahmed, chief strategist at Lombard Odier, says uncertainty over a December interes rate hike has been reduced by the latest minutes from the Federal Reserve policy meeting.
*Bank of Japan maintains stimulus, ECB minutes due later. Financial spreadbetters expected opening gains of 0.45 percent for Britain's FTSE 100, 0.89 percent for the German DAX and 0.88 percent for France's CAC 40. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.98 percent, while Australia's main index jumped 2 percent for a third straight...
Manish Singh, strategist & head of investments at Crossbridge Capital, says he is not certain there will be an interest rate rise by the Federal Reserve in December.
*Bank of Japan maintains stimulus, ECB minutes due later. The Bank of Japan surprised no one at its regular policy meeting by maintaining the current pace of asset buying, though many still suspect it will have to ease again at some point to force inflation higher. MSCI's broadest index of Asia-Pacific shares outside Japan added 1.5 percent.
Fed minutes reinforced what central bank officials have been saying over and over again: Interest rates are going up.
The Fed minutes sent the message for Wall Street to prepare for a December rate hike, but nothing is certain, reports CNBC's Steve Liesman.
While Wall Street talks up the near certainty of a December interest rate hike, the Federal Reserve has left itself some wiggle room for delay.
Jeffrey Lacker, Federal Reserve Bank of Richmond president; discusses whether a zero rate policy have triggered areas of concern and what the data suggests about raising rates.
Jeffrey Lacker, Federal Reserve Bank of Richmond president, shares his thoughts on raising interest rates.
WASHINGTON, Nov 17- The White House on Tuesday issued a veto threat for a Republican-backed bill to make the Federal Reserve set interest rate policy using a mathematical rule, a proposal Fed Chair Janet Yellen said would "severely damage" the U.S. economy. The Obama administration opposes the proposal because it would hinder the Fed's ability to help the economy,...
Yellen called the proposed law a "grave mistake," that would undermine Fed policy and the greater U.S. economy.
CNBC's Steve Liesman reports that the White House has threatened to veto the Fed Oversight Reform Act.
"The bill would severely impair the Federal Reserve's ability to carry out its congressional mandate and would be a grave mistake, detrimental to the economy and the American people," Yellen wrote in a letter to House Speaker Paul Ryan, R- Wisconsin, and Minority Leader Nancy Pelosi, D- California. If it passes Congress, the president's advisers would recommend he...
CNBC's Rick Santelli calls in to question Fed Chair Janet Yellen's claims that a Fed reform act would negatively impact Americans.
WASHINGTON, Nov 17- Federal Reserve Chair Janet Yellen on Tuesday condemned a proposal in the U.S. Congress that would require the central bank to tie interest rate policy to a mathematical rule, arguing this would "severely damage the U.S. economy." In a letter to lawmakers, Yellen said the proposed law, which could see a vote in the House of Representatives after...
Fed Chair Janet Yellen came out in strong opposition to a proposed Fed reform act, reports CNBC's Steve Liesman.