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Jul 29, 2015

Preview – U.S. Fed expected to push ahead with rate hike plan

WASHINGTON (Reuters) – The Federal Reserve is expected on Wednesday to point to a growing U.S. economy and stronger job market as it sets the stage for a possible interest rate hike in September.

The U.S. central bank is scheduled to issue its latest policy statement at 2 p.m. EDT (1800 GMT) following a two-day meeting, spelling out how policymakers feel the economy has progressed since they last met in June.

Jul 29, 2015

Fed expected to push ahead with rate hike plan

WASHINGTON (Reuters) – The Federal Reserve is expected on Wednesday to point to a growing U.S. economy and stronger job market as it sets the stage for a possible interest rate hike in September.

The U.S. central bank is scheduled to issue its latest policy statement at 2 p.m. EDT following a two-day meeting, spelling out how policymakers feel the economy has progressed since they last met in June.

Jul 28, 2015

As Fed approaches rate hike, job growth shifts away from oil patch

TULSA, Oklahoma (Reuters) – The rebound in U.S. jobs, limited in the early part of the recovery to a handful of booming industries such as oil, has broadened across the country as old-line industrial areas such as Michigan and sun belt hubs like Florida pick up the slack.

A Reuters analysis of state-level data shows recovery in jobs has been spreading across the country and industries, helping offset the reversal in fortunes in some oil patch states.

Jul 25, 2015

Fed inadvertently publishes staff forecast for 2015 rate hike

WASHINGTON (Reuters) – Staff economists at the Federal Reserve expect a quarter-point U.S. interest rate increase this year, according to forecasts the Fed mistakenly published on its website in a gaffe that drew criticism about its ability to keep secrets.

The rate forecast was included with a series of bearish projections on U.S. economic growth and inflation that were presented to policymakers at their June 16-17 meeting.

Jul 24, 2015

Fed staff sees one U.S. rate hike this year, inflation stuck in low gear

WASHINGTON, July 24 (Reuters) – Staff at the Federal
Reserve’s Board of Governors see a single quarter-point U.S.
interest rate increase by year’s end, inflation stuck in low
gear for five more years and an economy growing more slowly than
expected by U.S. policymakers.

Those bearish projections were included in a set of staff
forecasts presented to policymakers at their June 16-17 meeting
and inadvertently posted on the Fed’s website on June 29. (bit.ly/1IrnFT8)

Jul 15, 2015

Yellen stands by Fed transparency as lawmakers turn up heat

WASHINGTON, July 15 (Reuters) – Federal Reserve Chair Janet
Yellen on Wednesday resisted calls for more congressional
oversight and intervention into the U.S. central bank, as
members of a House of Representatives panel criticized her and
other policymakers for failing to be more accountable.

One Republican lawmaker also continued his attack on the
Fed’s response to a 2012 information leak, saying Yellen and the
central bank had failed to properly respond.

Jul 15, 2015

Yellen says economy on track, defends Fed ‘transparency’

WASHINGTON (Reuters) – Federal Reserve Chair Janet Yellen said on Wednesday the U.S. central bank remains on track to raise interest rates this year, with labor markets expected to steadily improve and turmoil abroad unlikely to throw the U.S. economy off track.

“If the economy evolves as we expect, economic conditions likely would make it appropriate at some point this year to raise the federal funds rate,” Yellen said in testimony prepared for the U.S. House of Representatives Financial Services Committee, affirming the view of a central bank prepared to gradually raise rates after more than six years at a near-zero level.

Jul 10, 2015

Yellen says expects rate hike this year, but cites labor weakness

CLEVELAND (Reuters) – Federal Reserve chair Janet Yellen on Friday said she expects the Fed to raise interest rates at some point this year, but pointed strongly to her concerns that U.S. labor markets remain weak and that more workers could be encouraged back into the job market with stronger growth.

In her speech Yellen gave no direct hint about whether she anticipates more than one rate hike over the Fed’s four remaining meetings of 2015. But her focus on domestic economic developments looked beyond recent market turbulence over Greece and China, and keeps the Fed’s plans on track.

Jul 10, 2015

Fed’s Yellen says expects rate hike this year, but cites labor weakness

CLEVELAND, July 10 (Reuters) – Federal Reserve chair Janet
Yellen on Friday said she expects the Fed to raise interest
rates at some point this year, but pointed strongly to her
concerns that U.S. labor markets remain weak and that more
workers could be encouraged back into the job market with
stronger growth.

In her speech Yellen gave no direct hint about whether she
anticipates more than one rate hike over the Fed’s four
remaining meetings of 2015. But her focus on domestic economic
developments looked beyond recent market turbulence over Greece
and China, and keeps the Fed’s plans on track.

Jul 10, 2015

Insight – Minnesota banks on higher taxes, minimum wage as script for growth

MINNEAPOLIS (Reuters) – It is too early to tell how a recent round of tax hikes and a minimum wage increase will play out in Minnesota, a state where liberal and conservative forces have often swapped control and policies.

But the state’s experience may give pause to a crowded field of Republican presidential hopefuls who largely swear by tax cuts and small government as a recipe for prosperity.