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Weak U.S. prices, not inflation, the threat now: Fed's Yellen

By Jonathan Spicer NEW YORK (Reuters) - 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.

Citi received mixed signals from the Fed on 'stress test': WSJ

(Reuters) - The Federal Reserve indicated to Citigroup Inc that the bank would get more time to fix certain "stress test" planning problems before rejecting its capital plan last month, the Wall Street Journal reported, citing people close to the company. The Fed had agreed to give Citigroup a 2015 deadline to address a series of shortcomings identified by the regulator in the wake of the 2013 test, the report said. (http://r.reuters.com/tyz58v)

US economy emerges from winter freeze: Fed's Beige Book

The US economy is showing clear signs of emerging from the brutal winter, with consumer spending picking up broadly, the Federal Reserve's Beige Book survey said Wednesday. "Economic activity increased in most regions" of the country since the early March report, the Beige Book said, with "modest or moderate" expansion in most of the Fed regions surveyed. The review of economic conditions covered mid-February through early April, capturing still-severe winter weather effects that began to fade last month.

Fed survey: Economic growth picks up across most of the United States as harsh winter recedes

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. Ten of the Fed's 12 regions reported an increase in economic activity, according to the Beige Book survey released Wednesday. In most places, the Fed described the improvement as "modest or moderate." Only Cleveland and St. Louis reported slower growth.

Fed survey: Economic growth picks up across most of the United States as harsh winter recedes

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. Ten of the Fed's 12 regions reported an increase in economic activity, according to the Beige Book survey released Wednesday. In most places, the Fed described the improvement as "modest or moderate." Only Cleveland and St. Louis reported slower growth.

Fed chief Yellen says key task of central bank is to respond to US economy's fluctuations

NEW YORK, N.Y. - 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. In her first major speech on Fed policy, Yellen sought to explain the Fed's shifting guidance on its interest-rate policy, which at times has confused or jarred investors. She said the Fed's policies "must respond to significant unexpected twist and turns the economy may make."

U.S. economic activity increased in most regions -Fed

WASHINGTON (Reuters) - U.S. economic activity picked up in recent weeks as a weather-related drag lifted, the Federal Reserve said on Wednesday. In its Beige Book report of anecdotal information on business activity collected from contacts nationwide, the U.S. central bank said eight of its 12 districts characterized growth as "modest to moderate." 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.

Fed's Yellen: few risks inflation will go much above 2%

Federal Reserve Chair Janet Yellen said Wednesday that inflation is expected to rise slowly from current low levels but not go much beyond the Fed's two percent target. The Fed "is well aware that inflation could also threaten to rise substantially above two percent. At present, I rate the chances of this happening as significantly below the chances of inflation persisting below two percent," she said. pmh/vs

Fed's Yellen: few risks inflation will go much above 2%

Federal Reserve Chair Janet Yellen said Wednesday that inflation is expected to rise slowly from current low levels but not go much beyond the Fed's two percent target. Price pressure in the US economy remain subdued, she said, in part because of slowing energy price rises and a fall in import prices. "Longer-run inflation expectations have remained remarkably steady, however," and will slowly push up toward two percent, Yellen said in a speech to The Economic Club of New York.

US industrial output growth modest in March

US industrial production grew a modest 0.7 percent in March after a February that was much stronger than originally reported. The Federal Reserve said Wednesday its output index for last month rose to 103.2, an increase of 3.8 percent from the year-earlier level. Most areas showed gains, led by materials, up 0.9 percent, and consumer goods, up 0.7 percent. But construction supplies only grew 0.2 percent, slow expansion in an industry that has been expected to anchor the US economic recovery.
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