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Obama says Yellen is his choice to take over Fed
WASHINGTON — President Barack Obama says that in Janet Yellen he’s found a tough and proven leader to take over as chairman of the Federal Reserve. Yellen currently is No. 2 at the nation’s powerful central bank. She would succeed outgoing Fed Chairman Ben Bernanke at a pivotal time for the economy and the bank’s […]
Fed says U.S. economy has slowed, takes no new steps
WASHINGTON — The Federal Reserve said Wednesday that the U.S. economy is losing strength and repeated a pledge to take further steps to stimulate growth if the job market doesn’t show sustained improvement. The Fed took no new action after a two-day policy meeting. But it acknowledged in a statement released after the meeting that […]
Fed extends ‘Twist’ program to drive rates lower
WASHINGTON — The Federal Reserve acted Wednesday to lift an economy that’s being held back by a weakened job market. It’s extending a program designed to spur borrowing and spending through lower long-term U.S. interest rates. The Fed also reiterated its plan to keep short-term rates at record lows until at least late 2014. And […]
Fed gets its chance to stimulate economy
WASHINGTON — When it meets Tuesday, the Federal Reserve could signal what it can or will do to help the nation avoid another recession. Since the Fed last met in June, Standard & Poor’s has downgraded long-term U.S. debt, stock markets have plunged, Europe has struggled to contain its debt crisis and a range of […]
Stocks rise as Fed says it will end bond program
NEW YORK — Stocks turned higher Wednesday after the Federal Reserve said it would end its $600 billion bond-buying program as scheduled in June because the economy has improved. The decision, announced after the Fed’s two-day policy meeting, was widely expected on Wall Street. The Fed made no changes to the bond program and said […]
Federal Reserve officials slightly more upbeat on economy
WASHINGTON — Federal Reserve officials were slightly more optimistic last month about economic growth for this year than they were in November, reflecting expected gains in consumer and business spending from tax cuts. Fed officials said in an updated forecast released Wednesday that they think the economy will grow between 3.4 percent and 3.9 percent […]
Buffett thanks Uncle Sam for helping economy
OMAHA, Neb. — Billionaire Warren Buffett wants people to know he thinks the U.S. government performed well during the economic meltdown of 2008. So the chairman and CEO of Berkshire Hathaway Inc. wrote a thank-you note to “Uncle Sam” that the New York Times published Wednesday on its op-ed page. Buffett used the opinion piece […]
