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Kocherlakota won't become Fed's next habitual dissenter

By Ann Saphir WASHINGTON (Reuters) - Minneapolis Federal Reserve Bank President Narayana Kocherlakota, whose differences with Fed Chair Janet Yellen over rewriting the central bank's pledge to keep interest rates low led him to cast the sole dissenting vote on Fed policy last week, has no plans to make a habit of saying "no," people familiar with his thinking say.

Yellen's 6-month comment parroted market view: senior Fed official

By Jason Lange WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen was likely just repeating the views of private analysts and investors when she said the central bank could raise interest rates around six months after ending its massive bond-buying program, a top Fed official said on Friday.

Fed corrects stress test results, says most changes minor

By Emily Stephenson WASHINGTON (Reuters) - The U.S. Federal Reserve on Friday revised several banks' capital levels under stress a day after results of its closely watched industry health check were published. The revisions did not cause any additional banks to dip below the 5 percent minimum for top-tier capital in the Fed's annual stress tests on the country's biggest banks.

U.S. appeals court upholds Fed's debit card 'swipe fee' limits

By Emily Stephenson WASHINGTON (Reuters) - A U.S. appeals court upheld the Federal Reserve's controversial rules for debit card "swipe fees" on Friday, reversing a lower court's decision to throw them out after merchants argued the charges were too high. Businesses pay the fees to banks when customers use debit cards to purchase goods or services. The fees reimburse banks for costs involved in offering debit cards.

US appeals court hands defeat to retailers; upholds Fed's cap on debit card 'swipe' fees

WASHINGTON - A federal appeals court has handed a defeat to a coalition of retail groups that challenged as too high the Federal Reserve's cap on how much banks can charge businesses for handling debit card transactions. The ruling issued Friday by the U.S. Appeals Court for the District of Columbia overturned a lower court's decision in July that favoured the merchants and was a setback for banks.

Fed dissenter says central bank should have lowered unemployment target to 5.5 per cent

WASHINGTON - A Federal Reserve official who dissented from this week's policy decision said Friday that the Fed should have said it planned to keep a key interest rate at a record low until unemployment falls below 5.5 per cent. The Fed's policy statement no longer cites a specific unemployment rate that might lead it eventually to raise short-term rates. The Fed instead says it will monitor a range of information before approving any rate increase.

All big U.S. banks but one pass Fed's health test

By Emily Stephenson WASHINGTON (Reuters) - U.S. big banks have enough capital buffers to withstand a drastic economic downturn, the Federal Reserve said on Thursday, announcing that 29 out of 30 major banks met the minimum hurdle in its annual health check. All of the big banks except for Zions Bancorp <ZION.O> stayed above the 5 percent requirement for top-tier capital in the latest round of stress tests.

Fed's Kocherlakota blasts new rate guidance

By Ann Saphir WASHINGTON (Reuters) - The Federal Reserve should have promised to keep rates near zero until U.S. unemployment falls below 5.5 percent, as long as inflation and financial stability risks are contained, said the lone dissenter to the Fed's policy decision this week.

Nearly all major US banks pass annual Fed 'stress tests'; Zions Bancorp falls short

WASHINGTON - All but one of the nation's 30 largest banks are better able to withstand a severe U.S. recession and global downturn than at any time since the financial crisis, the Federal Reserve has determined. Results of the Fed's annual "stress tests" showed Thursday that only Zions Bancorp failed to meet the Fed's minimum level of capital to withstand a crisis. The results showed continued improvement in banks' financial positions since the 2008 crisis, the Fed said. That built on positive results from last year's tests.

Stocks rebound from Fed-sparked losses

US stocks rebounded on Thursday from the previous Federal Reserve-sparked losses, as markets turned to favorable US economic data for inspiration. The Dow Jones Industrial Average finished up 108.88 points (0.67 percent) at 16,331.05. The broad-based S&P 500 advanced 11.24 (0.60 percent) to 1,872.01, while the tech-rich Nasdaq Composite Index rose 11.68 (0.27 percent) to 4,319.29.
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