Federal Reserve Bank of San Francisco President John Williams said quickening economic growth and gains in the job market may prompt the Fed in the next few months to start reducing its $85 billion in monthly bond-buying.
Sales of previously owned U.S. homes probably rose in March for a third month to reach the highest level since late 2009, further evidence of an improving real-estate market, economists said before a report today.
Mitt Romney says Barack Obama’s policies will consign the U.S. to an extended period of sluggish economic growth, at best. The president says his Republican challenger’s plans will sow the seeds of another mammoth recession. Both are wrong.
U.S. equities rose, recovering early losses, as financial shares led gains that sent the Standard & Poor’s 500 Index within nine points of its record. Stocks dropped in Europe and China as Fitch Ratings cut Italy’s debt and China’s industrial output weakened. Treasuries fell.
Federal Reserve Chairman Ben S. Bernanke’s latest round of bond buying will reach $1.14 trillion before he ends the program in the first quarter of 2014, according to median estimates in a Bloomberg survey of economists.
Esterline Technologies Corp., the aerospace supplier facing pressure from one of its largest investors to boost its valuation, is poised to hand shareholders a return of at least 37 percent as a takeover target.