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Feb 4, 2015

Fed’s Mester says U.S. economy on course for rate hike by June

WASHINGTON (Reuters) – The Federal Reserve should likely raise interest rates in the first half of this year to account for an economic recovery that continues to build momentum, Cleveland Federal Reserve President Loretta Mester said on Wednesday.

Mester said she regards the U.S. recovery as deeply rooted, with labor markets steadily improving, households and businesses freer from the heavy debt loads that constrained them, and low oil prices providing a “tailwind” to boost consumer spending.

Feb 3, 2015

Fed’s Bullard calls for deleting ‘patient’ from rate guidance

By Michael Flaherty

(Reuters) – The Federal Reserve should delete the word “patient” from its next policy statement, a top Fed official said on Tuesday, which would give the central bank more flexibility on when to raise interest rates.

St. Louis Fed President James Bullard, speaking on a panel of economists at the University of Delaware, also downplayed the Fed’s reference to international developments in its last policy statement, and called for breaking up big banks.

Jan 30, 2015

Fed to propose margin rule aimed at shadow banking -Tarullo

WASHINGTON, Jan 30 (Reuters) – The Federal Reserve plans to
propose a rule that applies minimum margin requirements to
certain forms of securities financing deals, in a move aimed at
reining in the shadow banking industry, a top Fed official said
on Friday.

Fed Governor Daniel Tarullo, the central bank’s chief
overseer of its bank regulation, said the Fed aims to take a
margin requirement rule passed last year by the Financial
Stability Board (FSB), a global group of regulators, and apply
it to the United States.

Jan 28, 2015

Fed upbeat on U.S. economy despite global turmoil

WASHINGTON, Jan 28 (Reuters) – The Federal Reserve on
Wednesday said the U.S. economy was expanding “at a solid pace”
as it largely looked through weakness overseas in a signal that
it remains on track to raise interest rates later this year.

The U.S. central bank repeated it would be “patient” in
deciding when to raise benchmark borrowing costs from zero,
where they have been stuck since late-2008.

Jan 28, 2015

Fed keeps patient approach to hiking rates despite global turmoil

WASHINGTON, (Reuters) – The Federal Reserve on Wednesday repeated that it will remain “patient” in deciding when to raise interest rates, and said the U.S. economy is on track despite turmoil in other markets around the world.

Concluding their first policy-setting meeting of the year,

Fed officials looked past the urgent moves made by other central

banks this month to boost their struggling economies and saw

continued economic expansion in the United States.

“The committee judges that it can be patient in beginning to normalize the stance of monetary policy,” the Fed’s policy statement said.

Jan 28, 2015

Senator Rand Paul re-introduces ‘Audit the Fed’ bill

WASHINGTON (Reuters) – Republican Senator Rand Paul, a potential 2016 presidential candidate, on Wednesday re-introduced a bill that would expose the Federal Reserve’s monetary policy discussions and decisions to a congressional audit.

The Kentucky senator’s move to re-introduce the bill, along with 30 co-sponsors, comes as Republican lawmakers and some Democrats increase their efforts to rein in the U.S. central bank and make it more transparent.

Jan 28, 2015

U.S. Senator Rand Paul re-introduces “Audit the Fed” bill

WASHINGTON, Jan 28 (Reuters) – Republican Senator Rand Paul,
a potential 2016 presidential candidate, on Wednesday
re-introduced a bill that would expose the Federal Reserve’s
monetary policy discussions and decisions to a congressional
audit.

The Kentucky senator’s move to re-introduce the bill, along
with 30 co-sponsors, comes as Republican lawmakers and some
Democrats increase their efforts to rein in the U.S. central
bank and make it more transparent.

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.

    • 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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