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Apr 21, 2013

Exclusive: Bernanke to skip Jackson Hole due to scheduling conflict

WASHINGTON (Reuters) – Federal Reserve Chairman Ben Bernanke will miss the annual Jackson Hole monetary policy symposium this year due to a scheduling conflict, skipping the prestigious event for the first time since taking the helm of the central bank in 2006.

The conference, held in late August in the splendor of the Grand Teton National Park in Wyoming, draws top central bankers from around the world. Bernanke’s absence would mark the first time in 25 years that a Fed chairman has not attended.

Apr 20, 2013

Exclusive: In rarity, Bernanke to skip Jackson Hole due to scheduling conflict

WASHINGTON (Reuters) – U.S. Federal Reserve Chairman Ben Bernanke will miss the annual Jackson Hole monetary policy symposium this year due to a scheduling conflict, skipping the prestigious event for the first time since taking the helm of the central bank in 2006.

The conference, held in late August in the splendor of the Grand Teton National Park in Wyoming, draws top central bankers from around the world. Bernanke’s absence would mark the first time in 25 years that a Fed chairman has not attended.

Apr 17, 2013

U.S. keeps up pressure on G20 over foreign exchange

WASHINGTON (Reuters) – Treasury Secretary Jack Lew warned his partners in the Group of 20 on Wednesday against the perils of “beggar thy neighbor” currency devaluations, picking out China for special mention, but noted Japan was also on Washington’s radar screen.

Speaking on the eve of a G20 meeting here, Lew also underlined the importance of stronger demand in Europe, keeping up pressure on Germany to loosen policies and provide more support for weaker euro zone members in the bloc’s south.

Apr 17, 2013

U.S. keeps up pressure on G20 over forex

WASHINGTON (Reuters) – U.S. Treasury Secretary Jack Lew warned his partners in the Group of 20 on Wednesday against the perils of “beggar thy neighbour” currency devaluations, picking out China for special mention, but noted Japan was also on Washington’s radar screen.

Speaking on the eve of a G20 meeting here, Lew also underlined the importance of stronger demand in Europe, keeping up pressure on Germany to loosen policies and provide more support for weaker euro zone members in the bloc’s south.

Apr 17, 2013

U.S. concerned by China fx intervention, will press G20

WASHINGTON, April 17 (Reuters) – U.S. Treasury Secretary
Jack Lew warned his partners in the Group of 20 on Wednesday
against the perils of “beggar thy neighbor” currency
devaluations, picking out China for special mention on the eve
of a G20 meeting here on global growth.

Lew also underlined the importance of stronger demand in
Europe for the world economy, keeping up Washington’s coded
pressure on Germany to loosen policies to provide more support
to weaker euro zone members in the bloc’s south.

Apr 17, 2013

Fed says economy growing at moderate pace

WASHINGTON (Reuters) – The economy posted a moderate pace of growth between late February and early April, the Federal Reserve said on Wednesday, supported by rising home prices and stronger factory activity.

The account by the Fed’s 12 regional banks was a bit more upbeat than the previous Beige Book survey, with Dallas and New York noting a slight acceleration in the pace of expansion, while five saw growth as moderate, and the other five as modest.

Apr 13, 2013

Fed doves play down threat of US inflation

April 13 (Reuters) – Federal Reserve policymakers went out
of their way on Saturday to play down the risk that aggressive
measures to bolster the U.S. economy would lead to inflation in
the future, in a clear signal of support for its ongoing actions
to spur growth.

The U.S. central bank last month maintained a controversial
program of buying $85 billion of bonds a month, while pledging
to keep interest rates near zero until unemployment hits at
least 6.5 percent, so long as inflation stays under 2.5 percent.

Apr 13, 2013

Fed’s Lockhart says inflation will be “easily recognizable”

By Alister Bull

(Reuters) – U.S. inflation is under control and is going to stay that way because the Federal Reserve will “easily” spot the conditions that could erode price stability, and has the tools to tighten policy when needed, a top U.S. central banker said on Saturday.

Atlanta Federal Reserve President Dennis Lockhart acknowledged that inflation expectations might be fanned by rapid credit growth as the economy picked up steam, as a result of the aggressive actions taken by the central bank.

Apr 10, 2013

Fed probes early release of minutes, appears accidental

WASHINGTON (Reuters) – The Federal Reserve launched an investigation on Wednesday into one of the U.S. central bank’s worst security lapses in years, but said it appeared that the early release of market-sensitive minutes of a policy meeting had been “entirely accidental.”

Minutes of Fed meetings can shed vital light on the future path of U.S. monetary policy and frequently impact financial markets worldwide. As such, they are guarded by elaborate security measures.

Apr 9, 2013

Fed’s Lacker: Too big to fail banks need “living wills”

RICHMOND, Virginia (Reuters) – Globally active U.S. banks may need to overhaul their operating structures to draw up realistic resolution plans, or ‘living wills’, a senior Federal Reserve official said on Tuesday, but that is the price for ending ‘too big to fail’.

“Credible living wills may require significant changes for financial firms. They could lead to more capital, less complex relationships among affiliates and perhaps even to smaller firms,” said Richmond Fed Bank President Jeffrey Lacker. “‘Too big to fail’ is unsustainable.”

    • About Alister

      "White House Correspondent. Based in the United States for six years covering the economy and Federal Reserve before moving to the White House beat. Previously reported for Reuters from Germany, South Africa, the Netherlands, the United Kingdom and Iraq."
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