United States. Federal Reserve Board
The Federal Reserve's more hawkish tone on inflation prompted a sharp rise in the dollar, despite expectations of a quarter-point rate hike to 2.75 percent. The central bank's statement added a new phrase, "appropriate monetary policy," which market watchers took as a signal
Greenspan, Alan
The Federal Reserve has taken a significant step towards setting a formal inflation objective, releasing forecasts that indicate it expects inflation to remain between 1 1/2-1 3/4 percent for the next two years. This move suggests increased transparency in monetary policymaking, which will be closely monitored by the
Greenspan, Alan
Investors cautiously bid stocks higher yesterday, driven by growth in retail sales and ahead of Congressional testimony by Federal Reserve Chairman Alan Greenspan. The Dow Jones industrial average rose to a new 2005 high, while broader stock indicators were modestly higher. The Federal Reserve's upcoming testimony has sparked
United States. Federal Reserve Board
The Federal Reserve's statement on interest rates provided some relief for investors, with the S&P 500 and Dow Jones industrial average posting modest gains. However, the market's enthusiasm was tempered by concerns over inflation and upcoming economic reports, including the President's State
United States. Federal Reserve Board
The Federal Reserve is expected to continue increasing interest rates for the remainder of the year, despite slow economic growth in recent months. Analysts predict the Fed will raise rates on Wednesday by another quarter-point to 2.5 percent, with many expecting a "measured" pace of increases. Strong
Banks (Finance)
Top Federal regulators have come to the defense of bank mergers, saying that consumers have not suffered in the recent wave of consolidation in the banking industry. According to regulators, the evidence shows that after more than a decade of restructuring, banks have increased their credit offerings and expanded their
Banks (Finance)
Concerns about the financial health of Japanese banks have led the Federal Reserve to arrange for nearly instantaneous provision of billions of dollars to Japanese authorities, contingent on the exchange of Treasury bonds and bills. This move appears aimed at mitigating potential risks from a liquidity crisis in Japan, where
Banks (Finance)
The House Banking Committee has approved a bill that would repeal the Depression-era law that bars mergers of banks and securities firms. The committee's approval sends the measure to the House Commerce Committee for review, following which it will be voted on as soon as late next month.
Banks (Finance)
Treasury Secretary Robert E. Rubin voiced strong objections to the House Banking Committee's plans to grant broad regulatory powers to the Federal Reserve as part of a bill allowing securities companies to merge with banks. The bill, championed by Representative Jim Leach, aims to repeal the Glass-Steagall Act
Banking industry
The stock market closed mixed on the day after the Federal Reserve Board raised interest rates, with big stocks largely unchanged while smaller over-the-counter stocks continued their rally for the eighth session. The bond market kept most of its price advance but closed slightly lower. The Dow Jones industrial average
Banking industry
The nation's largest lenders have begun raising their prime lending rate to 7.75 percent, following the Federal Reserve Board's decision to increase key interest rates. Chemical Bank and Chase Manhattan Bank, two of the largest lenders, were among the first to make this change, which
Financial markets
The Canadian bond and currency markets have been in a holding pattern, awaiting developments on the interest rate front. The Federal Reserve Board is expected to increase U.S. interest rates to slow economic growth and keep the reins on inflation. A survey by Technical Data showed 61% of respondents
