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Gold rose in New York as speculation that the U.S. Federal Reserve may signal the need for sustained stimulus countered further outflows from investor holdings. Silver and platinum advanced.
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The Indian rupee dropped to its lowest level since November before Federal Reserve Chairman Ben S. Bernanke’s testimony to the U.S. Congress on the world’s largest economy.
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Copper traded near a two-week high on mine-supply concerns and amid comments from U.S. Federal Reserve officials supporting its stimulus program before Fed Chairman Ben S. Bernanke testifies in Congress today.
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The dollar fell against the euro for a second day as comments from Federal Reserve policy makers fueled speculation Chairman Ben S. Bernanke will tell Congress tomorrow the pace of monetary stimulus should be maintained.
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There may be no government action more universally reviled in the U.S. than bank bailouts. Republicans and Democrats, financial industry lobbyists and watchdogs, Wall Street executives and President Barack Obama say taxpayers should never again rescue a failing bank.
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Federal Reserve policy makers may shift discussion away from when to reduce monetary stimulus, given data showing the economy is weakening, according to Pacific Investment Management Co.’s Mohamed A. El-Erian.
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This is now the standard line from Wall Street lobbyists: Don’t worry about “too big to fail” financial institutions because the Dodd-Frank Act fixed the problem.
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Federal Reserve Bank of New York President William Dudley said the central bank needs to take action to bring down the unemployment rate even though expanding its balance sheet isn’t a “perfect” tool.
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Federal Reserve Bank of New York President William Dudley called on the U.S. government to try new programs to revive the housing market while saying the central bank may still consider ways to cut interest rates.
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Among dozens of public appearances by Federal Reserve officials between their last two meetings, one stands out: New York Fed President William Dudley ’s Oct. 1 speech that more monetary stimulus likely was needed to combat “unacceptable” inflation and unemployment.
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