After a lengthy and politically charged search, President Barack Obama has decided to nominate Janet Yellen, the Federal Reserve’s vice chair, to be chairman of the powerful U.S. central bank, succeeding Ben Bernanke at a pivotal time for the economy and the Fed’s monetary policies.
By Doris C. Dumlao
Local stocks firmed up on Thursday as investors took their cue from indications that US interest rates would not rise too soon.
The dollar edged up in Asia on Thursday after US Federal Reserve Chief Ben Bernanke said the bank’s easy money policy would remain in place until it was satisfied the economy was strong enough.
World stock markets wavered between gains and losses Wednesday as investors remained cautious ahead of testimony from U.S. Federal Reserve Chairman Ben Bernanke.
Asian markets rallied Thursday after US Federal Reserve boss Ben Bernanke said its stimulus drive would be kept in place “for the foreseeable future”, but Tokyo’s advance was capped as the yen surged against the dollar.
Oil was flat in Asia on Friday amid an extended sell-off in equities on concerns over the US central bank ending its multi-billion dollar economic stimulus measures, as well as poor Chinese manufacturing data, analysts said.
Global stocks were mixed Friday as Asia rebounded from a sharp selloff, with U.S. markets losing early gains after unimpressive economic data and a warning from the International Monetary Fund on growth.
Asian shares were mixed Tuesday after a dip on Wall Street ahead of testimony from the US Federal Reserve chief and a policy meeting of the Japanese central bank.
The dollar edged higher Tuesday against the euro after Ben Bernanke confirmed the US Fed’s stimulus program would continue, while the yen traded flat ahead of the nomination of a new Bank of Japan chief.
By Christopher S. Rugaber
, Martin Crutsinger
Federal Reserve officials in 2007 badly underestimated the scope of the approaching financial crisis and how it would tip the U.S. economy into the deepest recession since the Great Depression, transcripts of the Fed’s policy meetings that year show.
By Paul Wiseman
Chairman Ben Bernanke sent a clear message Friday that the Federal Reserve will do more to help the still-struggling U.S. economy.
By Yuri Kageyama
Asian markets were little changed in cautious early Tuesday trading, stalled by global worries about the impact of the eurozone debt crisis as investors awaited the release of key U.S. economic data.