BUENOS AIRES, Oct 1 (Reuters) – Argentina’s central bank
chief resigned on Wednesday after a long tussle with the Economy
Ministry and was replaced with a regulator considered
sympathetic to the interventionist stance of a government
battling one of the world’s highest inflation rates.
The move drew a sharp negative reaction in financial
markets, with the price of Argentina’s local U.S.
dollar-denominated bonds skidding.
BUENOS AIRES, July 16 (Reuters) – Port workers in
Argentina’s Rosario hub began an indefinite strike on Wednesday,
joining grain inspectors, who walked out a day earlier and
threatening exports from the world’s No. 3 exporter of soybeans
Strikes and labor disputes are common in Argentina, Latin
America’s No. 3 economy, which has one of the world’s highest
inflation rates and a depreciating currency, both of which are
eating into buying power. Argentine unions have hunkered down
for a tough round of wage talks.
WASHINGTON (Reuters) – Ben Bernanke spent his whole life training for the job of Fed chairman – even if he didn’t know it at the time.
One of the Great Depression’s most prominent scholars, Bernanke inherited a historic slump of his own not long after taking the helm of the Federal Reserve eight years ago.
, Oct 8 (Reuters) – The Federal Reserve should
start reducing its asset purchase stimulus program as soon as
possible given that economic growth is already firm and will
become stronger next year, a top Fed official said on Tuesday.
Charles Plosser, president of the Philadelphia Fed, told a
local chamber of commerce meeting that he disagreed with the
central bank’s decision last month to hold off on reducing the
$85 billion current monthly pace of bond-buying.
BALTIMORE (Reuters) – The Federal Reserve could reduce the pace of its bond-buying stimulus despite a government shutdown that is preventing the release of key economic data, Richmond Fed President Jeffrey Lacker said on Friday.
He was speaking even as the Labor Department failed to release its monthly jobs report, the most widely watched global indicator, because of cost cuts related to the budget impasse and shuttering of government.
BUENOS AIRES, Oct 3 (Reuters) – A spike in shipping costs
and lower profits resulting from a series of union protests at
Argentina’s Rosario port, one of the world’s biggest grain
export centers, has raised concerns among the country’s
Strikes by powerful unions representing river pilots,
longshoremen and soy crushing workers have been frequent at the
port, about 300 kilometers (200 miles) north of Buenos Aires,
where some of the world’s top grain traders – such as Cargill
, Bunge and Louis Dreyfus – operate.
WASHINGTON (Reuters) – The Federal Reserve’s effort to assure the public that interest rates will remain near zero for years could have the perverse effect of hurting confidence and damaging economic growth, a top Fed official said on Thursday.
Jeffrey Lacker, president of the Richmond Fed, offered a conference in Stockholm a taste of his hawkish skepticism of the U.S. central bank’s unconventional monetary policies.
WASHINGTON (Reuters) – For a central bank that prides itself on transparent communications, the U.S. Federal Reserve has a clear messaging problem.
After months conditioning financial markets for a likely September start to a reduction in stimulus, the Fed’s inaction this week stunned investors, leaving many wondering how much stock they can put on the verbal nods of policymakers.
, Sept 6 (Reuters) – The U.S. Federal
Reserve can begin winding down its bond-buying stimulus later
this year, Chicago Fed President Charles Evans said on Friday,
adding he was still unsure about whether to start in September.
A U.S. employment report earlier on Friday showing
relatively weak job gains but a drop in the jobless rate in
August was just mixed enough to leave uncertain the prospect of
a reduction in the Fed’s $85 billion monthly asset purchases.
GREENVILLE, South Carolina (Reuters) – The U.S. Federal Reserve can begin winding down its bond-buying stimulus later this year as the economy improves, but will likely need to keep official interest rates near zero for another two years, Chicago Fed President Charles Evans said on Friday.
While Evans did not specify an exact month for the start of a reduction in the Fed’s purchases of mortgage and Treasury bonds, his timeline appears to make him reticent about making such a move in September, as most investors now expect.