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Federal Reserve Bank of New York President William C. Dudley said policy makers will know in three to four months whether the economy is healthy enough to overcome federal budget cuts and allow the central bank to begin reducing record stimulus.
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Tuba player Andrew Schwartz quit the Manhattan School of Music in 2011 when he saw opportunities shrinking and orchestras struggling. After a series of low-paid jobs such as selling stocks by phone, he left the workforce in August to pursue a master’s degree in business administration.
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Federal Reserve Bank of Dallas President Richard Fisher said the central bank will probably maintain or slow the current pace of $85 billion a month of asset purchases.
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Federal Reserve Vice Chairman Janet Yellen is seen by a third of international investors as the most likely to take the helm of the central bank when Ben S. Bernanke’s term ends in January.
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Workers who have dropped out of the labor force may take a few years to begin searching for work, Federal Reserve economists say in a paper offering insights into the health of a labor market that’s key to central bank policy.
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Group of Seven finance ministers and central bankers said they are moving toward revamping banking rules and ensuring that any lender on the brink of failure can be shut down without threatening financial stability.
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Joey Griffiths grew up in the western New York town of Dunkirk and left home at 17. Now he’s 30 and working as a bill collector in Jackson Heights, Queens. He has bills of his own to pay. Says Griffiths: “I’m good at collections because I understand what they’re going through. Just surviving.”
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Job openings in the U.S. eased in March from the highest level in almost five years, indicating employers are waiting to see how the economy performs as federal budget cuts take effect.
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Federal Reserve Vice Chairman Janet Yellen has fought for more than a decade to put attacking unemployment and boosting growth on an equal footing with fighting inflation at the heart of the Fed’s policy.
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Federal Reserve Vice Chairman Janet Yellen has fought for more than a decade to put attacking unemployment and boosting growth on an equal footing with fighting inflation at the heart of the Fed’s policy.
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