Emerging-market stocks rose, capping the biggest monthly increase since October, after slower-than-estimated U.S. growth data bolstered speculation the Federal Reserve will keep the pace of economic stimulus.
Federal Reserve Governor Jeremy Stein endorsed a warning by economists that raising the main interest rate may cause a financial-market convulsion similar to the “tantrum” that occurred last year after the Fed said it was considering trimming its bond purchase program.
Federal Reserve Bank of Philadelphia President Charles Plosser, who votes on policy this year, said the Fed should press on with plans to trim its bond purchases with the economy likely to grow about 3 percent this year.
Mike Mayo was a 31-year-old analyst at Lehman Brothers Holdings Inc. in 1994 when he wrote a report predicting KeyCorp shares would trail rivals as the firm considered restructuring. He’s still pushing for the overhaul.
The Food and Drug Administration has failed to monitor the effectiveness of generics that make up 80 percent of medicines sold in the U.S., according to doctors and researchers who said new regulatory efforts aren’t enough.
Investors using Standard & Poor’s 500 Index futures turned bearish this month for the first time since September 2012, concerned that emerging-market turmoil and signs of slower growth will drag equities down.