The U.S. Federal Reserve on Wednesday sketched a brighter picture for the country's economy when Chairman Ben Bernanke sent out his most explicit message that the Fed was likely to begin reducing the pace of quantitative easing later this year, before bringing it to an end by the middle of next year.
U.S. oil prices rose to a nine- month high, as the Syrian conflict bolstered concern of supplies from the Middle East.
The U.S. Federal Reserve said on Wednesday that the country's economic activity grew "at a modest to moderate pace" from April through mid-May, boosted by housing recovery and steady growth in consumer spending.
The U.S. Federal Reserve Chairman Ben Bernanke warned against tightening monetary policy too soon, in testimony before the Congress on Wednesday.
The U.S. Federal Reserve might adjust the pace of purchases up or down as the labor market and inflation outlook changes in a material way, William Dudley, president of the Federal Reserve Bank of New York said Tuesday.
A debate has heated up over whether a bubble is building in the U.S. bond market, with the consequent risk of another financial crisis. But at least all agree the Federal Reserve's exit strategy for its quantitative easing policy is a source of uncertainty in bond and other markets. The later the Fed discards the policy, the more likely a bond bubble will emerge.
The U.S. Federal Reserve on Wednesday pledged to keep its stimulus policy in place, as a mixed bag of economic data released recently have fueled fears of a slowdown in tentative growth.
The U.S. Federal Reserve on Wednesday announced that it will keep the short-term interest rate near zero and continue its controversial assets purchase program to bolster economic growth and job creation until the economic outlook improves substantially.
The U.S. stocks closed lower Thursday as minutes of the Federal Reserve's Federal Open Market Committee (FOMC) showed that some Fed policymakers believe that ongoing asset purchases would likely last till the end of 2013.
The U.S. Federal Reserve on Wednesday announced that it would continue buying longer-term Treasury securities and keep its key short-term rate near zero until the country's unemployment rate drops below 6.5 percent, so as to stimulate economic growth and job creation.
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