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Jun 12, 2013

Yellen overwhelming favorite to replace Bernanke at Fed: Reuters poll

WASHINGTON (Reuters) – Janet Yellen, the Federal Reserve’s powerful vice chair, is by far the most likely candidate to replace Ben Bernanke when his second term at the helm of the U.S. central bank ends early next year, according to a Reuters poll of economists.

The poll found that an overwhelming 40 of 44 economists said Yellen, the former president of the San Francisco Federal Reserve Bank, will take over for her boss in February 2014. Support for her nomination was strong but less decisive, with 23 of 38 economists backing Yellen’s bid for the top job.

Jun 12, 2013

Reuters poll: Janet Yellen overwhelming favourite to replace Bernanke at Fed

WASHINGTON (Reuters) – Janet Yellen, the Federal Reserve’s powerful vice chair, is by far the most likely candidate to replace Ben Bernanke when his second term at the helm of the U.S. central bank ends early next year, according to a Reuters poll of economists.

The poll found that an overwhelming 40 of 44 economists said Yellen, the former president of the San Francisco Federal Reserve Bank, will take over for her boss in February 2014. Support for her nomination was strong but less decisive, with 23 of 38 economists backing Yellen’s bid for the top job.

Jun 5, 2013

U.S. economy expanding, but still sluggishly: Fed Beige Book

WASHINGTON (Reuters) – The U.S. economy expanded at a “modest to moderate” pace since mid-April while hiring remained relatively subdued, according to a Federal Reserve report based on discussions with business contacts.

Consumer spending picked up and housing continued to show signs of strength, the Fed’s Beige Book showed. The previous report cited “moderate” growth, so the addition of the word “modest” may hint at some weakening.

Jun 5, 2013

Economy expanding, but still sluggishly: Fed Beige Book

WASHINGTON (Reuters) – The economy expanded at a “modest to moderate” pace since mid-April while hiring remained relatively subdued, according to a Federal Reserve report based on discussions with business contacts.

Consumer spending picked up and housing continued to show signs of strength, the Fed’s Beige Book showed. The previous report cited “moderate” growth, so the addition of the word “modest” may hint at some weakening.

May 21, 2013

Argentina says 2013/14 wheat area to expand 40 percent

BUENOS AIRES (Reuters) – High wheat prices, a government tax rebate plan and expected good weather will prompt Argentine farmers to expand planting of the grain by 40 percent this season compared with the 2012/13 crop year, Agriculture Secretary Lorenzo Basso said on Tuesday.

“The area will be close to 4.5 million hectares, for sure,” Basso told the Reuters Latin America Investment Summit.

May 20, 2013

Crisis-hit Argentine biodiesel sector eyes U.S. market

BUENOS AIRES (Reuters) – Argentina is pursuing U.S. environmental approval to export biodiesel more easily to that market and revitalize a local industry in “crisis” due to trade problems with the European Union, Argentina’s main biofuels chamber said on Monday.

The head of the chamber, known by its Spanish acronym Carbio, spoke to the Reuters Latin America Investment Summit on Monday.

May 16, 2013

Lacker says Fed should get out of mortgage market

BALTIMORE (Reuters) – An improving U.S. housing market suggests it is time for the Federal Reserve to stop aiming its stimulus at the real estate sector, Richmond Fed President Jeffrey Lacker said on Wednesday.

“When you look at housing market conditions, I think you could make the case that we should be getting out of mortgage-backed securities,” Lacker told reporters after a speech.

May 8, 2013

Fed’s credibility tested as inflation drifts below target

WASHINGTON (Reuters) – With the U.S. inflation rate about half of the Federal Reserve’s 2.0 percent target, the central bank is facing a major test and some experts wonder whether it will eventually need to ramp up its already aggressive bond buying program.

The Fed cut official interest rates effectively to zero in late 2008 during the financial crisis. Since then, it has bought more than $2.5 trillion in bonds to bolster an anemic economic recovery and speed up the decline in unemployment.

May 1, 2013

No end in sight for Fed stimulus as inflation sags

WASHINGTON (Reuters) – The Federal Reserve’s debate over U.S. monetary policy could begin to shift away from the prospect of reducing stimulus toward a discussion about doing more, given the signs of economic weakness and slowing inflation.

But policymakers are not there yet.

At a two-day meeting that wraps up on Wednesday, the Fed is widely expected to maintain its monthly purchases of $85 billion in bonds to support an economic recovery that is nearly four years old but still too weak for the job market to truly heal.

Apr 24, 2013

Argentine farmers hoard soy as protection against falling peso

CHACABUCO, Argentina, April 24 (Reuters) – Sales of
Argentine soybeans are lagging this season due to expectations
for higher world prices later and to domestic financial
uncertainty that has prompted farmers to save in beans rather
than pesos.

With world food demand on the rise, growers in the Pampas
grains belt are filling their silos with soy rather than
converting their crops into pesos, a currency that hit a new
all-time low in informal trade this week.

    • About Pedro

      "Pedro da Costa has been covering economics and financial markets since 2001. He is currently based in Washington and focuses on the Federal Reserve and macroeconomic policy. Da Costa earned a Master's in international relations at the University of California San Diego and studied sociology and political science as an undergraduate at the University of Chicago and the London School of Economics. He grew up in Rio de Janeiro, Brazil."
      Joined Reuters:
      2001
      Languages:
      English, Portuguese, Spanish, French
      Awards:
      2011 Deadline Club Award from the Society of Professional Journalists' New York Chapter
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