WASHINGTON (Reuters) – Fed Vice Chair Janet Yellen on Thursday robustly defended the Federal Reserve’s bold steps to spur economic growth, calling efforts to boost hiring an “imperative” at a hearing into her nomination to become the first woman to lead the U.S. central bank.
Answering questions before the Senate Banking Committee, Yellen made plain she would press forward with the Fed’s ultra-easy monetary policy until officials were confident a durable economic recovery was in place that could sustain job creation.
WASHINGTON (Reuters) – Janet Yellen, President Barack Obama’s nominee to lead the U.S. Federal Reserve, will offer a stout defense on Thursday of the central bank’s aggressive monetary easing before a Senate panel that includes some tough Republican critics.
At a Senate Banking Committee hearing on her nomination to be the first woman to run the nation’s central bank, Yellen is likely to remain vague on future Fed actions.
WASHINGTON (Reuters) – Janet Yellen, President Barack Obama’s nominee to chair the Federal Reserve, said the U.S. central bank has “more work to do” to help an economy and labor market that are still underperforming.
“I believe that supporting the recovery today is the surest path to returning to a more normal approach to monetary policy,” Yellen, the Fed’s current vice chair, said in remarks prepared for delivery to the Senate Banking Committee on Thursday.
WASHINGTON (Reuters) – Janet Yellen will be forced to defend the Federal Reserve’s ultra-easy monetary policy when she faces senators later this week, but critics have little hope of sinking her nomination to become the first woman to ever lead the U.S. central bank.
Nominated by President Barack Obama to succeed Fed Chairman Ben Bernanke when his term expires in January, Yellen will have to endure plenty of heated anti-Fed rhetoric from Republicans on Thursday, when she appears before the Senate Banking Committee.
WASHINGTON (Reuters) – U.S. Federal Reserve Vice Chair Janet Yellen will likely secure sufficient votes to be confirmed as the next head of the central bank, according to one of her harshest critics in the Senate who sits on the banking panel that will vet her for the job.
David Vitter, the Louisiana Republican who voted against her nomination for the No. 2 post in 2010, met with Yellen on Wednesday afternoon.
WASHINGTON, Nov 5 (Reuters) – Two of the Federal Reserve’s
top staff economists make the case in new research papers for
more aggressive action by the U.S. central bank to drive down
unemployment by promising to hold interest rates lower for
The papers provide valuable insight into the central bank’s
thinking at a time when Fed Vice Chair Janet Yellen is
maintaining strict silence ahead of a Senate hearing on her
nomination to succeed Chairman Ben Bernanke in January.
WASHINGTON/SAN FRANCISCO (Reuters) – The Federal Reserve should scale back its asset purchase program only when the U.S. economy improves and even then only slowly, one senior U.S. central banker said on Monday.
Another said there is no need to rush the process.
The two Fed officials, St. Louis Federal Reserve Bank President James Bullard and Federal Reserve Board Governor Jerome Powell, did not say exactly when they believe the Fed will begin withdrawing stimulus, a question that is at the forefront of many investors’ minds.
LOUIS/NEW YORK, Nov 1 (Reuters) –
Top Federal Reserve officials on Friday gave only modest
hints as to when a massive bond-buying program would be drawn
down, with one saying they needed to wait for signs of rising
inflation and two others reinforcing an argument the Fed has
waited too long.
Investors are trying to predict when the Fed will decide the
U.S. economy and labor market are strong enough to withstand a
reduction in the pace of quantitative easing (QE), in which $85
billion in assets are snapped up by the central bank each month
to spur growth.
LOUIS, Nov 1 (Reuters) – The Federal Reserve wants
reassurance that U.S. labor market improvements will be lasting
before starting to scale back its massive bond buying campaign,
a senior Fed official said on Friday.
“To the extent that key labor market indicators continue to
show cumulative improvement, the likelihood of tapering asset
purchases will continue to rise,” St. Louis Federal Reserve
President James Bullard said. “The Committee also wants
reassurance that any progress made in labor markets will stick.”
WASHINGTON (Reuters) – Business activity in the U.S. Midwest surged past expectations in October as new orders hit their highest level since 2004, countering recent evidence of soft economic growth.
Weekly unemployment claims also fell, in welcome news for the nation’s battered labor market after the impact of a government shutdown on furloughed federal workers diminished.