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Federal Reserve

Fed will not keep interest rates low for government's benefit, Waller says
World

Fed will not keep interest rates low for government's benefit, Waller says

  • "My goal today is to definitively put that narrative to rest. It is simply wrong. Monetary policy has not and will not be conducted for these purposes."
  • The Fed's board members and the central bank's powerful chief are appointed by the president with approval of the US Senate, but the governors' long terms and protection from partisan dismissals are meant to insulate the central bank from political pressures.
Updated 29 Mar, 2021 08:09pm
Fed's Barkin says watch the data, rate hikes no article of faith
World

Fed's Barkin says watch the data, rate hikes no article of faith

  • "I don't think it matters. I think what matters is the outcomes we actually get," Barkin said.
  • The Fed's pledge not to raise rates or curb $120 billion in monthly bond purchases until the economy more clearly recovers "is quite explicit and outcome based," Barkin said.
Published 25 Mar, 2021 08:45pm
Fed to support economy until recovery 'well and truly done,' Clarida says
World

Fed to support economy until recovery 'well and truly done,' Clarida says

  • It will take some time for economic activity and employment to return to levels that prevailed at the business cycle peak reached last February. We are committed to using our full range of tools to support the economy until the job is well and truly done.
  • The Fed now sees the US unemployment rate falling to 3.5%, roughly where it was before the pandemic, by the end of 2023.
Published 25 Mar, 2021 07:54pm
Gold slips in European trade
Markets

Gold slips in European trade

ROTTERDAM/LONDON: Gold prices edged lower on Tuesday as a firmer dollar outweighed a dip in U.S Treasury yields,...
Published 24 Mar, 2021 05:10am
US MIDDAY: Gold dips
Markets

US MIDDAY: Gold dips

NEW YORK: Gold prices edged lower on Tuesday as a firmer dollar outweighed a dip in U.S Treasury yields, ahead of...
Published 24 Mar, 2021 05:10am
US economists see Fed hiking lending rate sooner than expected: survey
Markets

US economists see Fed hiking lending rate sooner than expected: survey

  • Thirty-three percent of respondents said the government's response was adequate, a slight decrease from the previous survey in August 2020, while 37 percent said it was insufficient, also down slightly from the previous survey. Eighteen percent said it was excessive, up slightly from August.
Published 22 Mar, 2021 10:45am
US Fed to let bank leverage exemption expire this month, will review rule
World

US Fed to let bank leverage exemption expire this month, will review rule

  • The Fed said it would, however, launch a formal review of the capital rule, known as the "supplementary leverage ratio," due to concerns it is no longer functioning as intended as a result of the central bank's emergency COVID-19 pandemic monetary policy measures.
  • "Wall Street bank stocks will get punished because now they will have to put more money aside," Edward Moya, senior market analyst at foreign exchange brokerage Oanda, said in an email.
Published 19 Mar, 2021 09:13pm
US MIDDAY: Gold slips
Markets

US MIDDAY: Gold slips

NEW YORK: Gold prices dropped on Thursday as a surge in US bond yields and a firmer dollar hammered bullion’s...
Published 19 Mar, 2021 05:32am
Yields climb as market awaits Fed statement
Markets

Yields climb as market awaits Fed statement

  • The benchmark yield surged to 1.676%, the highest level since February 2020. It was last up 2.8 basis points at 1.6515%.
  • The 30-year bond yield jumped to 2.429%, the highest since November 2019. It was last up 2.1 basis points at 2.4117%.
Published 17 Mar, 2021 09:31pm