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Sep 23, 2014

Fed officials take aim at regulations for small banks

LOUIS (Reuters) – Federal Reserve officials on Tuesday offered their support to the nation’s community banks, acknowledging that the complex financial reform effort is saddling small lenders with a heavy supervision load.

Kansas City Fed President Esther George, Fed Board Governor Jerome Powell and St. Louis Fed President James Bullard all addressed the issue at a community banking conference here.

Sep 17, 2014

Fed renews zero rate pledge, but hints at steeper rate hike path

WASHINGTON, Sept 17 (Reuters) – The U.S. Federal Reserve on
Wednesday renewed a pledge to keep interest rates near zero for
a “considerable time” but it issued projections that suggested
it may raise borrowing costs a bit quicker than it had been
thinking a few months ago.

Many economists and traders had expected the central bank to
alter the rate guidance it has provided since March, given
generally improving data on the economy’s performance.

Sep 17, 2014

Fed could hint on rate-hike plans as it prepares for policy turn

WASHINGTON (Reuters) – The U.S. Federal Reserve on Wednesday could offer fresh clues on when it plans to begin lifting interest rates and how quickly it will move, as it prepares for a momentous policy turn after years of aggressive monetary stimulus.

Although a tightening of monetary policy is not expected until mid-2015, the central bank could use a policy statement on Wednesday to lay important groundwork.

Sep 12, 2014

Fed taps Fischer to lead new financial stability committee

WASHINGTON, Sept 12 (Reuters) – Federal Reserve Vice
Chairman Stanley Fischer has been tapped to head a new financial
stability panel at the U.S. central bank, an influential perch
he could use to try to broaden and enhance the Fed’s powers to
ward off a future financial crisis.

Fischer has focused on the issue of financial stability in
his first two speeches since arriving at the Fed in June,
showing the importance he puts on a central bank’s need for
tools to cool areas of financial markets before they overheat.

Sep 11, 2014

Preview – Fed’s rate guidance on chopping block, new exit plan nears

By Ann Saphir and Michael Flaherty

(Reuters) – The U.S. Federal Reserve is facing perhaps its most pivotal meeting of the year next week, as it debates a potential overhaul of its guidance on interest rates and seeks to nail down a plan for exiting its extraordinarily easy monetary policy.

It remains to be seen whether decisions will be taken on either, but it is clear that details on a so-called exit plan are nearly complete, while discomfort is growing internally over a pledge to keep rates near zero for a “considerable time.”

Sep 11, 2014

Fed’s rate guidance on chopping block, new exit plan nears

By Ann Saphir and Michael Flaherty

(Reuters) – The U.S. Federal Reserve is facing perhaps its most pivotal meeting of the year next week, as it debates a potential overhaul of its guidance on interest rates and seeks to nail down a plan for exiting its extraordinarily easy monetary policy.

It remains to be seen whether decisions will be taken on either, but it is clear that details on a so-called exit plan are nearly complete, while discomfort is growing internally over a pledge to keep rates near zero for a “considerable time.”

Sep 8, 2014

U.S. consumer credit soars in July with biggest gain since ’01

WASHINGTON (Reuters) – U.S. consumer credit soared in July, posting its biggest jump since November 2001, driven in part by demand for auto loans and student borrowings.

Total consumer credit increased $26.01 billion to $3.24

trillion in July, the Federal Reserve said on Monday. June’s consumer credit figure was revised up to show an $18.81 billion increase from $17.26 billion.

Sep 4, 2014

Cleveland Fed’s new chief calls for forward guidance change

PITTSBURGH (Reuters) – The Federal Reserve needs to change its forward guidance on interest rates, a top official at the central bank said on Thursday, in order to better reflect the speed of the Fed’s progress toward its economic goals.

“I believe it is again time for the Committee to reformulate its forward guidance,” said Cleveland Fed President Loretta Mester, referring to the Federal Open Market Committee.

Aug 22, 2014

As Fed debates rate path, focus on jobs data stirs its own debate

JACKSON HOLE, Wyo, Aug 22 (Reuters) – The Federal Reserve’s
intensive focus on a wide range of labor market data to guide
policy-making is driving a wedge between its core
decision-makers and others who feel the central bank is straying
from traditional guideposts.

In a speech here on Friday, Fed Chair Janet Yellen gave her
most detailed analysis yet of what still plagues the American
labor market five years after the recession, from stagnant wages
to the large number of part-time workers to those who have given
up the search for work.

Jul 31, 2014

Fed nods to firmer prices yet still focused on labor weakness

WASHINGTON (Reuters) – The Federal Reserve on Wednesday reaffirmed it was in no rush to raise interest rates, even as it upgraded its assessment of the U.S. economy and expressed some comfort that inflation was moving up toward its target.

After a two-day meeting, Fed policymakers took note of both faster economic growth and a decline in the unemployment rate, but expressed concern about remaining slack in the labor market.

    • About Michael

      "In June 2009, Michael Flaherty became a Chief Correspondent for Reuters News, leading a team of journalists who cover investment banking, mergers & acquisitions, private equity and hedge funds, equity capital markets, natural resources and property across Asia. He arrived in Hong Kong in Feb. 2008 as Reuters' Asia Financial Services correspondent, covering the investment banks and M&A. Flaherty was hired by Reuters in New York in Dec. 2003. He was voted Reuters Journalist of the Year for his 2007 coverage of the U.S. private equity boom and bust. He started at Reuters with the consumer group covering office retailers ..."
      Joined Reuters:
      Dec. 1, 2003
      Awards:
      Peninsula Press Club, 2002, Reuters Journalist of the Year, 2007, M&A International, 2007
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