WASHINGTON — For many months, economy-watchers have been obsessed with “lift off”: the moment the Federal Reserve raises short-term interest rates, which have been held close to zero since late 2008. Fed Chair Janet Yellen has indicated that, if the economy grows as it has, that moment would come “at some point this year” — […]
Federal Reserve
Posted inMaine, sj-web
Federal Reserve Bank of Boston chief says Fed to consider ‘wide range’ of indicators when considering interest rate
BANGOR — Federal Reserve Bank of Boston President Eric Rosengren said Tuesday the central bank should link interest-rate guidance to the economy’s progress toward both sides of its mandate for full employment and stable prices. The Fed “could promise to keep short-term interest rates at very low levels until the economy is within one year […]
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Fed announces it will reduce bond-buying program
WASHINGTON — The Federal Reserve said Wednesday that it will reduce its $85 billion a month in bond purchases by $10 billion starting in January, citing a stronger U.S. job market. And it says it will take further steps to reduce the pace of the purchases next year if that improvement continues. The reduction to […]
Posted inNation / World, sj-web
Senate Panel approves Yellen’s nomination as Fed chairwoman
WASHINGTON — Janet Yellen’s nomination to be chairman of the Federal Reserve was approved by the Senate Banking Committee Thursday with a vote of 14-8. Yellen was approved by 11 of the 12 Democrats on the banking committee, and three of the panel’s Republicans. Republican Sens. Mark Kirk of Illinois, Bob Corker of Tennessee and […]
Posted inBusiness, sj-web
Yellen nominated to replace Bernanke at Fed
WASHINGTON (AP) — President Barack Obama will nominate Federal Reserve vice chair Janet Yellen to succeed Ben Bernanke as chairman of the nation’s central bank, the White House said Tuesday. Yellen would be the first woman to head the powerful Fed, taking over at a pivotal time for the economy and the banking industry. Both […]