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Jan 28, 2015

Fed seen remaining patient with rate guidance amid global turmoil

WASHINGTON, Jan 28 (Reuters) – The Federal Reserve is
expected to signal it remains on track to begin raising interest
rates later this year, as the central bank shows confidence that
low inflation and rising risks from abroad have yet to derail
the U.S. economic recovery.

The Fed’s first two-day policy meeting of the year concludes
on Wednesday, and policymakers will likely restate their
“patient” approach to raising rates, while also voicing faith
that the economy will continue improving.

Jan 26, 2015

Federal Reserve nominee reports up to $40.1 mln in personal assets

WASHINGTON, Jan 26 (Reuters) – Federal Reserve nominee Allan
Landon has up to $40.1 million worth of personal assets,
according to government disclosure forms obtained by Reuters,
which would make him one of the wealthiest Fed governors if
confirmed to the post.

The White House put Landon’s name forward earlier this month
to fill one of the two empty Fed governor seats, touting the
former Bank of Hawaii chief executive officer’s
experience in the community banking industry.

Jan 23, 2015

Fed’s solo act gets tougher with ECB, others in stimulus mode

WASHINGTON (Reuters) – Federal Reserve policymakers, already struggling to assure investors that they remain on track for a mid-year interest rate rise, will find the task has just become harder with their peers in Europe and elsewhere headed in the opposite direction.

The swelling ranks of central banks cutting rates and ramping up stimulus make it more difficult and riskier for the Fed to proceed with plans to end crisis-era policies, according to Fed analysts and former staffers.

Jan 16, 2015

Federal Reserve to launch community advisory council

WASHINGTON (Reuters) – The U.S. Federal Reserve said Friday it will establish a community advisory council of 15 citizens to meet regularly with central bank officials for a broad conversation on the state of the economy.

The move comes as the Fed is pressured by labor and low-income groups arguing for continued low interest rates. Fed Chair Janet Yellen and other Fed officials have met with these groups from late last year to hear their concerns, a departure from the practice of previous central bank leaders.

Jan 13, 2015

MetLife could further complicate Fed’s new role as insurance cop

WASHINGTON (Reuters) – The Federal Reserve’s new role as the top U.S. insurance regulator will be in the spotlight this week as MetLife decides whether to challenge tougher oversight by the central bank in court.

The Fed would face months of scrutiny of its fledgling oversight of the sector if MetLife sues regulators over their decision to tag it as a firm that has the potential to destabilize the wider financial system.

Jan 12, 2015

Cutting ‘patient’ from Fed guidance should signal hike near: Lacker

WASHINGTON (Reuters) – The Federal Reserve should stop talking about the need for a “patient” interest rate policy just before it thinks it will begin hiking rates, a top Fed policymaker said on Monday.

Richmond Federal Bank President Jeffrey Lacker said in an interview with Reuters that the Fed’s guidance in December that it would be patient with raising rates harkened back to a strategy employed in 2004.

Jan 7, 2015

Fed pressed ahead with rate hike plan as it debated guidance

WASHINGTON, Jan 7 (Reuters) – The U.S. Federal Reserve
pressed ahead at its last policy-setting meeting with plans to
begin raising interest rates later this year despite an
apparently vigorous debate over how to communicate its
intentions.

According to minutes of the Fed’s Dec. 16-17 meeting,
released on Wednesday, U.S. central bankers reviewed a broad set
of data showing the United States was holding its own as other
parts of the global economy turned in the wrong direction.

Jan 7, 2015

Fed pressed ahead with plan to raise rates as it debated guidance

WASHINGTON (Reuters) – The U.S. Federal Reserve pressed ahead at its last policy-setting meeting with plans to begin raising interest rates later this year despite an apparently vigorous debate over how to communicate its intentions.

According to minutes of the Fed’s December meeting, released on Wednesday, U.S. central bankers reviewed a broad set of data showing that the economic recovery in the United States was holding its own in a world that was turning in the wrong direction – with recession threatening in Japan and Europe and a slowdown in major emerging markets.

Jan 3, 2015

Fed’s Rosengren, Harvard’s Summers offer cautious view of US economy

BOSTON (Reuters) – As the Fed winds down its economic stimulus, former U.S. Treasury Secretary Lawrence Summers says the country’s next economic booster could be exporting its fossil fuels around the globe, a move that could make America the next Saudi Arabia.

“The United States has the chance to be to the energy economy of the next decade what Saudi Arabia has been for the last two to three decades,” Summers said on Saturday. “The effect of allowing oil exports … would reduce rather than increase American gasoline prices.”

Dec 18, 2014

Fed eyes audit push as key political challenge in 2015

WASHINGTON (Reuters) – The U.S. Federal Reserve is lobbying to stem a rising threat to its independence as the “Audit the Fed” movement, once seen as usual background noise, looks set to gain momentum in 2015 when Republicans gain control of both houses of Congress.

Interviews with current and former Fed staff, lawmakers and lobbyists show that the central bank, led by Chair Janet Yellen, is taking the audit threat seriously. Fed officials are making their case for independence across Capitol Hill, reminding politicians of the damage that can come from political interference into economic policy discussions.

    • 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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