European Central Bank President Mario Draghi defended the tools that the organization has available.Europe Newsread more
According to China's top economic planning body, some local companies are cutting back on their efforts to hire new university graduates.China Economyread more
German Chancellor Angela Merkel has presided over a tumultuous recent period, which for many, has left Europe on the brink.Commentaryread more
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U.S. President Donald Trump's former campaign chairman Paul Manafort was transferred to a detention facility in Manhattan on Monday ahead of an expected arraignment on state...White Houseread more
Airbus recorded orders and options for 123 planes, according to the aviation consulting firm IBA.iQ.Paris Air Showread more
Markets in Asia were mostly higher on Tuesday as investors awaited the start of a closely-watched meeting by the U.S. Federal Reserve, set to kick off later stateside.Asia Marketsread more
Wall Street analysts think Facebook's cryptocurrency payments project will give the company a big boost.Marketsread more
Chinese President Xi Jinping will travel to North Korea this week for a two-day visit, ahead of a possible meeting between Xi and President Donald Trump at next week's G-20...Politicsread more
The Pentagon said that the crew of one of the tankers, the Japanese Kokuka Courageous, found an unexploded limpet mine on its hull following an initial explosion.Politicsread more
China's Alibaba Group on Tuesday said its chief financial officer, Maggie Wu, will oversee the firm's strategic acquisitions and investments unit, as part of a business and...Technologyread more
The Federal Reserve is continuing to examine its program to reduce its balance sheet and likely will have to make another tweak at the December meeting to keep it running smoothly.
In a process begun in October 2017, the bank is decreasing the size of its bond portfolio, which grew to more than $4.5 trillion as part of an effort to drive down mortgage rates and lift economic growth.
The Fed is doing that by allowing $50 billion in proceeds from the portfolio to run off each month, while reinvesting the rest.
A recent survey the bank did of financial officers indicated that banks are comfortable with a smaller balance sheet than the $4 trillion one in place now, as well as one larger than the $800 billion or so level in place before the financial crisis and the Fed's stimulus program.
Minutes from the November Federal Open Market Committee meeting detailed a discussion over the program.
In recent months, the benchmark fed funds rate has drifted in line with the interest on excess reserves, which the Fed uses as a guidepost for the funds level.
Fed Chairman Jerome Powell said the committee may have to approve a 20 basis point hike in the IOER rate to try to hold back the funds rate.
Fed officials said the rise in the funds rate to the top level of its range was a reaction to increased Treasury supply and, in turn, rising yields on government debt.