Stephen Stanley News
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Federal Reserve policy makers say they want to avoid a sudden increase in interest rates when the time comes to start unwinding record monetary easing. A shrinking federal budget deficit is likely to help them meet that goal.
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Manufacturing expanded in April at the slowest pace this year and companies took on the fewest workers in seven months, adding to evidence of a slowdown in the world’s largest economy.
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The Federal Reserve could pay more than $77 billion a year in interest on the excess cash reserves it holds for commercial banks if rates follow the highest path forecast by Fed policy makers.
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The Federal Reserve won’t exit any time soon from unprecedented bond-buying under its quantitative- easing stimulus strategy, even as the world’s biggest economy shows signs of recovery, according to Stephen Stanley of Pierpont Securities LLC.
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The number of people in the U.S. who process credit transactions is rebounding, boosted by an increase in lending to governments, businesses and consumers.
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The U.S. job-creation engine sputtered in March as employers hired fewer workers than forecast and a shrinking labor force helped push the unemployment rate down to the lowest in four years.
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Payrolls grew in 34 U.S. states in January, a month before employment gains accelerated nationally.
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Federal Reserve Chairman Ben S. Bernanke prepared to deliver a speech on the outlook for the U.S. economy as some of the most optimistic forecasters scaled back their projections for growth in the second half.
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Stephen Stanley, chief economist at Pierpont Securities LLC., says the Federal Reserve should focus more on unemployment and less on inflation. Stanley speaks with Bloomberg's Sara Eisen and Michael McKee on "Bloomberg On the Economy."
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A string of disappointing economic data capped by last week’s jobs report is prompting even some of the more optimistic economists to question the durability of the U.S. recovery.
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