Chief Correspondent, Hong Kong
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Apr 4, 2014

Fed’s Fisher: forward guidance should not be binding

HONG KONG (Reuters) – The U.S. Federal Reserve must avoid being locked into calendar-based policy commitments and instead ensure its forward guidance is flexible enough to allow it to respond to changing conditions, a top Fed official said in Hong Kong on Friday.

Dallas Federal Reserve Bank President Richard Fisher said he worried that predictable commitments were unsound policy as they could lead to false complacency and market instability.

Apr 2, 2014

China’s COFCO to pay $1.5 bln for stake in Noble’s agribusiness

SINGAPORE/HONG KONG, April 2 (Reuters) – COFCO Corp agreed
to pay $1.5 billion to buy a 51 percent stake in Noble Group
Ltd’s agribusiness, its second acquisition in less than two
months as China’s largest grain trader seeks to strengthen its
market position across the globe.

The two companies plan to form a joint venture, in which
Noble will retain a 49 percent stake, that will link COFCO’s
grain processing and distribution business with Noble Agri’s
grain origination and trading business, Noble said on
Wednesday.

Mar 28, 2014

Fed’s Evans says he wants no rate hike until early 2016

HONG KONG (Reuters) – The U.S. Federal Reserve would do best to keep rates at rock bottom until early 2016 and then raise them only gradually so as not to risk derailing a building economic recovery, a top Fed official said on Friday.

“I personally doubt that the funds rate is going to start to increase before the middle of 2015,” Chicago Federal Reserve Bank President Charles Evans told a Credit Suisse investment conference in Hong Kong.

Mar 28, 2014

Fed’s Evans sees no rate rise before mid-2015

HONG KONG, March 28 (Reuters) – The U.S. Federal Reserve
will need to keep rates at rock bottom until late 2015 and then
increase them only moderately over the next year because it
would otherwise risk derailing a building economic recovery, a
top Fed official said on Friday.

“I personally doubt that the funds rate is going to start to
increase before the middle of 2015,” Chicago Federal Reserve
Bank President Charles Evans told the Credit Suisse investment
conference in Hong Kong.

Mar 28, 2014

Fed’s Evans sees no rate hike until ‘well into’ 2015

HONG KONG (Reuters) – The U.S. Federal Reserve will need to keep rates at rock bottom until late 2015, a top Fed official said on Friday.

Raising rates earlier, whether to head off the risk of financial instability or unacceptably high inflation, could dangerously depress already low inflation and derail a recovery that is finally gaining steam, Chicago Federal Reserve Bank President Charles Evans said in remarks prepared for delivery in Hong Kong.

Mar 27, 2014

Fed should start rate hikes in Q1 2015, Bullard says

HONG KONG (Reuters) – The Federal Reserve, which has kept short-term U.S. interest rates near zero since late 2008, should start raising them early next year with the aim of returning them to normal by the end of 2016, a top Fed official told Reuters on Thursday.

“Mine is in the first quarter of 2015, as far as liftoff for the funds rate,” St. Louis Federal Reserve Bank President James Bullard told Reuters Insider television, when asked for his view on when the U.S. central bank should make its first rate hike since 2006.

Mar 27, 2014

Fed should start rate hikes in first quarter 2015, Bullard says

HONG KONG (Reuters) – The Federal Reserve, which has kept short-term U.S. interest rates near zero since late 2008, should start raising them early next year with the aim of returning them to normal by the end of 2016, a top Fed official told Reuters on Thursday.

“Mine is in the first quarter of 2015, as far as liftoff for the funds rate,” St. Louis Federal Reserve Bank President James Bullard told Reuters Insider television, when asked for his view on when the U.S. central bank should make its first rate hike since 2006.

Mar 27, 2014

Fed’s Bullard sees potential risk of bubble as easy policy unwound

HONG KONG (Reuters) – A bubble could form in the U.S. economy even as the Federal Reserve unwinds its accommodative policy, a top U.S. central banker said on Thursday, adding policymakers’ ability to spot them had improved substantially.

James Bullard, president of the Federal Reserve Bank of St. Louis, also told an investment conference in Hong Kong that while there was a risk of keeping rates too low for too long, he did not think the Fed was doing that.

Mar 26, 2014

Fed’s Bullard says U.S. jobless rate expected to fall below six percent this year

HONG KONG (Reuters) – The U.S. unemployment rate will fall below 6 percent by the end of this year, a Federal Reserve official said on Wednesday, offering a bullish view on the country’s economy after central bank comments sent shock waves through financial markets last week.

James Bullard, president of the Federal Reserve Bank of St. Louis, said that the outlook for the U.S. economy is “quite good,” despite data from early in the year.

Mar 26, 2014

Fed’s Bullard says U.S. jobless rate expected to fall below 6 pct this year

HONG KONG, March 26 (Reuters) – The U.S. unemployment rate
will fall below 6 percent by the end of this year, a Federal
Reserve official said on Wednesday, offering a bullish view on
the country’s economy after central bank comments sent shock
waves through financial markets last week.

James Bullard, president of the Federal Reserve Bank of St.
Louis, said that the outlook for the U.S. economy is “quite
good,” despite data from early in the year.

    • 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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