Content Tagged As fed

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  • Obama says Yellen is his choice to take over Fed

    October 9, 2013 2:35 PM

    WASHINGTON - President Barack Obama says that in Janet Yellen he's found a tough and proven leader to take over as chairman of the Federal Reserve. Yellen currently is No. 2 at the nation's powerful central bank. She would succeed outgoing Fed Chairman Ben Bernanke at a pivotal time for... more »
  • Economy "paused" last quarter

    January 30, 2013 7:40 PM

    The Federal Reserve took no action after a two day policy meeting even though it says the economy paused in recent months. It did reaffirm its commitment to boost the sluggish economy by keeping borrowing cheap for the foreseeable future. Last month The Fed said it would keep its key... more »
  • Fed to spend $45B to sustain bond purchases

    December 12, 2012 11:40 AM

    WASHINGTON- The Federal Reserve will spend $45 billion a month to sustain an aggressive drive to keep long-term interest rates low. And it set a goal of keeping a key short-term rate near zero until unemployment drops below 6.5 percent. The policies are intended to help an economy that the... more »
  • Fed chose mortgage bonds to bolster economy

    October 4, 2012 7:29 PM

    The Federal Reserve chose buying mortgage bonds after members agreed that helping the lagging housing recovery was a good way to boost the economy. The Fed also says it would keep buying mortgage bonds until the job market showed substantial improvement. Minutes from the Fed's meeting in September also show... more »
  • Fed to spend $40B a month on bond purchases

    September 13, 2012 11:40 AM

    WASHINGON- The Federal Reserve says it will spend $40 billion a month to purchase mortgaged-back securities because the economy is too weak to reduce high unemployment. The Fed says it will keep buying the securities until the job market shows substantial improvement. The Fed also extended a plan to keep... more »
  • Oil prices fall on Fed inaction

    August 23, 2012 7:23 PM

    The price of oil dropped after a Federal Reserve member said further action to stimulate the U.S. economy may not be needed. Benchmark oil fell $1.19 to $96.08 a barrel in New York. Prices had risen earlier in the day after the Fed appeared to be ready to step in... more »
  • Fed Leaders worried about Jobs Gains

    April 3, 2012 7:30 PM

    Policymakers at the Federal Reserve are worried recent strong gains in hiring could dry up if economic growth in the U.S. doesn't pick up. Minutes of the Fed's march 13 meeting show members expressed those concerns before sticking with a plan to keep interest rates at record lows until 2014.... more »
  • Feds investigating Nagin travel, family business

    February 10, 2012 4:22 PM

    NEW ORLEANS (AP) - People with direct knowledge of the investigation say federal authorities are looking into longstanding questions about free trips and gratuities that former New Orleans Mayor Ray Nagin allegedly accepted while in office. The people told The Associated Press on Friday that authorities also are investigating how... more »
  • Higher Interest Rates?

    April 5, 2011 7:24 PM

    Members of the Federal Reserve raised concerns that a big jump in energy prices could weaken the economy and unleash inflation, leading to a tightening of credit and higher interest rates this year. The minutes of the Fed's closed-door meeting last month were released Tuesday but did not specify if... more »
  • The Fed not expected to raise interest rates

    August 10, 2010 8:39 AM

    The nation's central bank is widely expected to leave interest rates unchanged at Tuesday's meeting. The Fed's official statement will be scoured for any other changes that would be aimed at giving the economy recovery at boost. more »

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