Fed Vice Chair: Rate Increase Possible
Aug29

Fed Vice Chair: Rate Increase Possible

Washington — Federal Reserve Vice Chairman Stanley Fischer left the door open Saturday for a Fed rate increase in September, saying the factors that have kept inflation below the central bank’s target level have likely begun to fade. Fischer said there’s “good reason to believe that inflation will move higher as the forces holding down inflation dissipate further.” He said, for example, that some effects of a stronger dollar and a...

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Canada Inflation Rises On Food, Shelter Prices

Ottawa — Canada’s annual inflation rate quickened in June as food and shelter costs increased and energy provided less of a drag. The consumer price index rose 1 percent in June from a year ago, following the 0.9 percent pace in May, Statistics Canada said Friday in Ottawa. Prices for meat, dairy and bakery products and fresh fruit climbed at least 2.5 percent. The Bank of Canada cut interest rates two days ago saying a weak economy...

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Yellen: Rate Hike On Track
Jul12

Yellen: Rate Hike On Track

Washington — Federal Reserve Chair Janet Yellen said the Fed is on track to start raising interest rates later this year but expressed multiple concerns over headwinds that are still holding back the U.S. economy. She described the outlook for the economy and inflation as “highly uncertain,” amid lingering weakness in the labor market and new potential threats overseas. Yellen, speaking on the economy for the first time since the...

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Chairwoman Expects Fed to Raise Key Interest Rate This Year

Washington — Federal Reserve Chairwoman Janet L. Yellen said Friday she expected the central bank to raise its benchmark short-term interest rate this year if the economy continues to slowly improve. It was her clearest signal yet of when the Fed would increase the so-called federal funds rate for the first time since 2006. The Fed has held the rate near 0 percent since late 2008 in an attempt to boost economic growth and hiring. With...

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Ben Bernanke: Interest Rate Critics Wrong

Washington — Federal Reserve chairs are experts at being boring. They use words like “moderate,” “uncertain,” or “stability” like we use the words “um,” “and,” or “but.” It’s, as former Fed Chair Alan Greenspan put it, a “language of purposeful obfuscation” that drones on so long you forget what was just asked, let alone whether this answered it, just as long as it’s mercifully over. But now that he’s free of the strictures of office,...

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