Chairman Ben S. Bernanke said the Federal Reserve would alter its monthly bond buying in response to gains in the job market, underscoring a need for flexibility as he expands Fed assets beyond a record $3 trillion.
One year after Japan’s tsunami tripped up global auto production, the aberrations in supply that followed are diminishing the reliability of a widely used statistic. Investors need to carefully watch tomorrow’s results.
Nov. 1 (Bloomberg) -- Paul Ballew, chief economist at Dun & Bradstreet, talks about costs of Atlantic Ocean superstorm Sandy and the storm's impact on the U.S. economy. He speaks with Tom Keene, Sara Eisen and Scarlet Fu on Bloomberg Television's "Surveillance." Meteorologist Bonnie Schneider also speaks. (Source: Bloomberg)
U.S. stocks rallied, with the Dow Jones Industrial Average erasing its decline since Election Day, as investors weighed progress in U.S. budget talks and German investor confidence jumped. Treasuries fell.
Babylon Honda moved its entire new- and used-car inventory a five-minute drive farther inland as Hurricane Sandy approached last month. The regular lot was swamped in the storm, and in recent weeks it’s been swamped by customers replacing cars destroyed by Sandy.
Federal Reserve Chairman Ben S. Bernanke will probably try to spur economic growth this month by cutting near-record-low borrowing costs, economists said. His new stimulus may not aid the 14 million Americans without work.
Charles Evans has urged his Federal Reserve colleagues to inject more stimulus into the economy since September. He finally broke ranks with most of them today, casting the U.S. central bank’s first dissent in favor of further easing since December 2007.