Japanese Prime Minister Shinzo Abe on Tuesday told his economy minister to compile an economic stimulus package by the end of this month to revive a flagging economy in the face of sluggish private consumption and investment.
Federal Reserve Chairman Ben Bernanke said Wednesday the timetable for trimming the bond purchases is not on a preset course and the Fed would base its adjustment of the 85-billion-dollar monthly program on how the economy performs.
Top officials of the U.S. Federal Reserve remained divided on when to taper off the massive bond purchase program, revealed the minutes of the Fed's latest interest-setting group meeting released Wednesday.
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.
Ben Bernanke, the U.S. Federal Reserve chairman said on Wednesday that the central bank would start scaling back its massive bond-buying program later this year if the economy improves as expected.
The U.S. Federal Reserve Chairman Ben Bernanke warned against tightening monetary policy too soon, in testimony before the Congress on Wednesday.
U.S. Federal Reserve chairman Ben Bernanke Tuesday urged the Congress and Obama administration to strike a deal to avert the looming "fiscal cliff", saying the combination of tax hikes and spending cuts would pose a " substantial threat" to the country's economic recovery.
The combination of tax hikes and spending cuts would pose a " substantial threat" to U.S. economic recovery.
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