Correspondent, Washington
Jason's Feed
Apr 15, 2014

U.S. warns China its currency is still undervalued

WASHINGTON (Reuters) – The Obama administration on Tuesday warned Beijing that its currency was too weak and expressed doubt over the Asian giant’s resolve to let market forces guide the value of the yuan.

In a semiannual report to Congress, the U.S. Treasury stopped short of declaring China a currency manipulator, but singled it out among large U.S. trading partners for its currency practices.

Apr 15, 2014

Yellen says Fed mulling stricter rules for Wall Street

ATLANTA (Reuters) – The U.S. Federal Reserve is considering further steps to force big banks to hold more capital, and sees a case for other stability-enhancing measures for more shadowy areas of Wall Street as well, Fed Chair Janet Yellen said on Tuesday.

The Fed has been pushing banks to strengthen their balance sheets since the 2007-2009 financial crisis, and last week joined other regulators in requiring the eight largest U.S. banks to increase their capital levels by some $68 billion in total. [ID:nL2N0N015M]

Apr 15, 2014

Yellen prepares Wall Street for more wholesale funding rules from Fed

NEW YORK/ATLANTA (Reuters) – The U.S. Federal Reserve is considering adopting yet more measures to address the remaining stability risks in the short-term wholesale funding markets that seized during the 2008 financial crisis, Fed Chair Janet Yellen said on Tuesday.

In a video speech, Yellen praised new liquidity standards for global banking firms, but warned that they do not apply to so-called shadow banks or to the financial system as a whole.

Apr 13, 2014
Apr 13, 2014

Tensions over money flows bode poorly for global economy

WASHINGTON (Reuters) – For a bunch of people who just agreed the global economy is doing better, top officials from the world’s rich and poor nations sound rather worried.

For poor nations, the easy monetary policies in advanced economies are leading to big swings in capital flows that could destabilize emerging markets. For rich countries, the hoarding of currency by developing nations is blocking progress toward a more stable global economy.

Apr 11, 2014

G20 eyeing fallout from Ukraine; pushes U.S. on IMF reforms

WASHINGTON, April 11 (Reuters) – The world’s top economies
are monitoring the economic situation in Ukraine for any fallout
that may pose risks to economic and financial stability, the
Group of 20 finance ministers and central bankers said on Friday
in a final communique.

G20 officials also kept up the pressure on the United
States, which has held up IMF reforms agreed in 2010 that would
double the Fund’s resources and give more say to emerging
markets. The G20 said it was “deeply disappointed” in the delays
and will work with the IMF on options on how to advance the
reforms if the United States did not move forward by year-end.

Apr 9, 2014

U.S. urges Germany, other European nations to keep deflation at bay

WASHINGTON (Reuters) – The United States on Wednesday urged Germany and other European countries to take seriously the risk that Europe could slip into a dangerous spiral of falling wages and prices.

“The risk of deflation is something that they need to be very alert to,” Treasury Secretary Jack Lew told U.S. broadcaster CNBC.

Apr 4, 2014
Mar 28, 2014

U.S. sees tough times for Ukraine economy, expects improvement

WASHINGTON (Reuters) – The Ukrainian economy faces several difficult years even if international lenders bail it out and the country’s politicians follow through on an ambitious reform agenda, a U.S. Treasury official said on Friday.

Ukraine is currently reeling from political unrest, shaky public finances and a confrontation with its powerful Russian neighbor, which annexed Crimea, part of Ukraine, earlier this month.

Mar 25, 2014

Fed’s Lockhart sees rate hike at least six months after QE3 end

ATLANTA (Reuters) – The U.S. Federal Reserve will probably wait to hike interest rates until at least six months after it ends its bond-buying stimulus program, a top Fed official said on Tuesday.

“(I) think that it’s going to be longer than that,” Dennis Lockhart, president of the Federal Reserve Bank of Atlanta, told an investment conference.