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Fed's Fisher: printing money does 'no good' if firms won't hire

May 22, 2013 14:45
NACOGDOCHES, Texas (Reuters) - The Federal Reserve's super-easy monetary policies will do little to boost jobs if businesses remain uncertain about the outlook for taxes, government spending, and regulation, a top Fed official said on Wednesday. Companies are sitting on "massive" amounts of money, Dallas Fed President Richard Fisher said, but it "does no good to print money" if companies are hesitant to hire amid uncertainties.

Bernanke warns that premature ending of Fed's stimulus efforts would carry substantial risks

The Canadian PressMay 22, 2013 11:00
WASHINGTON - Chairman Ben Bernanke told Congress Wednesday that the U.S. job market remains weak and that it is too soon for the Federal Reserve to slow its extraordinary stimulus programs. Reducing the Fed's efforts to keep borrowing rates low would "carry a substantial risk of slowing or ending the economic recovery," Bernanke said in testimony to the Joint Economic Committee, a panel that includes members of the House and Senate.

TSX up slightly, Wall Street falls amid talk of possible end to Fed stimulus

The Canadian PressMay 22, 2013 09:17
TORONTO - North American markets were mixed Wednesday after U.S. Federal Reserve chairman Ben Bernanke said the central bank has considered ending its extraordinary stimulus program, but added that it is too soon to do it now. Indexes in Toronto and the U.S. initially surged on news that the Fed had no immediate plans to turn the tap off on its $85-billion-a-month bond buyback program. But by the end of the day, the S On Wall Street, the Dow Jones industrials index was down 80.41 points at 15,307.17. The S

Fed's Bullard-don't see case for tapering with inflation so low

May 21, 2013 14:30
FRANKFURT (Reuters) - A top U.S. Federal Reserve official said on Tuesday he could not envisage a good case for tapering the Fed's purchases of bonds at the moment due to the low inflation rate. The Fed is currently purchasing $85 billion worth of bonds every month. It next meets on June 18-19 to review policy and there has been some speculation it might signal a readiness to taper the program, although most economists think it will keep buying bonds for the bulk of 2013, based on recent mixed data.

US stocks rise on strong Home Depot earnings

Agence France-PresseMay 21, 2013 11:01
US stocks Tuesday moved higher following a positive earnings report by Dow member The Home Depot, which cited the strong recovery in the housing market. About 30 minutes into trade, the Dow Jones Industrial Average rose 51.49 (0.34 percent) to 15,386.77. The broad-based S&P 500 added 4.15 (0.25 percent) at 1,670.44, while the tech-rich Nasdaq Composite Index increased 5.50 (0.16 percent) to 3,501,93.

TSX, U.S. markets climb ahead of speeches by U.S. Fed presidents, BoC

The Canadian PressMay 21, 2013 10:16
TORONTO - North American markets surged ahead at the open Tuesday as investors awaited for signs from the U.S. Federal Reserve on when the central bank will scale down its $85-billion bond buy back program. Almost all sectors on the S The Canadian dollar was up 0.01 of a cent to 97.18 cents US. On Wall Street, the Dow Jones industrials index was ahead by 60.67 points to 15,395.95, the S

Fed's Evans says may need to "tinker" with eventual exit policy

May 21, 2013 05:00
By Ann Saphir CHICAGO (Reuters) - The Federal Reserve, whose current bond-buying program will at its current rate swell the U.S. central bank's balance sheet to $4 trillion by year-end, may end up holding assets until they mature instead of selling them, a top Fed official said on Monday. The Fed two years ago laid out an exit plan that would see its balance sheet return to a more normal size over a three- to five-year period.

Fed could end bond buys in autumn if jobs outlook sure: Evans

May 20, 2013 14:00
By Ann Saphir CHICAGO (Reuters) - The Federal Reserve could continue full-speed ahead on its bond-buying program through the summer, but end it abruptly in the autumn if by then it is confident that the improvement in the jobs outlook is here to stay, a top Fed official said on Monday. "We've seen good progress in the labor market outlook," Charles Evans, president of the Federal Reserve Bank of Chicago, told the CFA Society Chicago.

British firms more upbeat on economy, credit scheme helping: lobby

May 14, 2013 21:00
LONDON (Reuters) - British companies have grown more optimistic about the economy in recent months as a recovery, increasingly aided by a central bank funding scheme, is gathering pace, a leading business lobby said on Monday. The Confederation of British Industry (CBI) said businesses' view of the future had shifted slightly, although it kept its forecasts for the country's economic growth unchanged from February at 1 percent in 2013 and 2 percent in 2014.

Fed's George: Fed exit could cause bond yields to spike

May 12, 2013 15:00
JACKSON, Wyoming (Reuters) - The U.S. Federal Reserve faces a tricky challenge in communicating its exit from ultra-easy monetary policy if it wants to avoid spooking financial markets and hurting the economy, a senior U.S. central banker said on Friday. "My concern is we do that in a fashion that does not create sharp increases in rates, backing up mortgage rates, when we announce that we're going to stop bond purchases (or) we are going to adjust those in some way," Kansas City Fed President Esther George told the Wyoming Business Alliance.
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