Wash Post U.S. Economy

U.S. yuan critics urge Obama keep campaign promise

Doug Palmer — Wed, 11 Nov 2009 15:26:29 EST

WASHINGTON (Reuters) - U.S. critics of China's currency policy said on Wednesday they were skeptical of a hint from Beijing that it could soon let its yuan rise against the dollar again after an 18-month hiatus.

Oil settles near $78 as China's economy rebounds

CHRIS KAHN — Wed, 11 Nov 2009 16:31:15 EST

NEW YORK -- Oil prices ticked higher Wednesday as OPEC said the world would consume more crude in 2010 than previously expected, and China said its economy improved.

US-BUSINESS Summary

Reuters — Wed, 11 Nov 2009 16:58:51 EST

Market climbs on homebuilder forecast, China data NEW YORK (Reuters) - The Standard & Poor's 500 index closed at a fresh 13-month high on Wednesday as an upbeat forecast from a top homebuilder and data from China pointed to a strengthening global economy. The Dow also closed at a 13-month high,...

Market climbs on homebuilder forecast, China data

Caroline Valetkevitch — Wed, 11 Nov 2009 16:36:45 EST

NEW YORK (Reuters) - The Standard & Poor's 500 index closed at a fresh 13-month high on Wednesday as an upbeat forecast from a top homebuilder and data from China pointed to a strengthening global economy.

Oil rises slightly, market eyes dollar, China

Reuters — Wed, 11 Nov 2009 15:50:18 EST

NEW YORK (Reuters) - Oil prices rose slightly on Wednesday as the market weighed a rebound in the dollar against data showing strong demand growth from No. 2 consumer China.

Stocks rise as dollar continues to dictate trading

TIM PARADIS — Wed, 11 Nov 2009 16:54:00 EST

NEW YORK -- Another weak day for the dollar and upbeat economic news from China gave investors more reason to keep buying stocks.

US risks following Japan's example of stagnancy

TOM RAUM — Wed, 11 Nov 2009 14:07:59 EST

WASHINGTON -- Heavy government stimulus spending and near-zero interest rates did little to end a "lost decade" of stagnation and mushrooming debt in Japan. Some economists and lawmakers say the U.S. may wind up following the same trajectory.

Dollar pulls off 15-month low despite US support

AP — Wed, 11 Nov 2009 16:40:13 EST

NEW YORK -- The dollar pulled off a new 15-month low in late trading Wednesday after the euro rose above $1.50, while Treasury Secretary Timothy Geithner reiterated the administration's stance that a strong dollar is good for the U.S. economy.

APEC ministers urge flexible FX to ease imbalances

Neil Chatterjee — Wed, 11 Nov 2009 09:30:13 EST

SINGAPORE (Reuters) - Asia-Pacific finance ministers were set to call for flexible exchange rates among measures to try to reduce global economic imbalances that were at the heart of the financial crisis.

Geithner wants strong dollar, will tackle deficit

Glenn Somerville — Wed, 11 Nov 2009 08:22:03 EST

TOKYO (Reuters) - Treasury Secretary Timothy Geithner said on Wednesday he believes strongly in the need to maintain a strong dollar and said the United States was determined to get its budget deficit down.

Geithner wants strong dollar, will tackle deficit

Glenn Somerville — Wed, 11 Nov 2009 08:22:03 EST

APEC ministers agree economic crisis far from over

ELAINE KURTENBACH — Wed, 11 Nov 2009 06:41:58 EST

SINGAPORE -- Asia-Pacific ministers warned Wednesday that signs of recovery in the global economy are merely a respite, and future growth hinges on freer trade and improved social safety nets in Asia.

Stock index futures point to early gains on Wall Street

Reuters — Wed, 11 Nov 2009 05:06:51 EST

(Reuters) - Stock index futures pointed to a higher opening on Wall Street on Wednesday, with futures for the S&P 500 up 0.9 percent, Dow Jones futures up 0.8 percent and Nasdaq 100 futures up 0.8 percent at 4:54 a.m. EST.

Dollar hits 15-month low, global stocks firm on rate view

Natsuko Waki — Wed, 11 Nov 2009 04:25:56 EST

LONDON (Reuters) - The dollar hit a fresh 15-month low and world stocks held near a three-week high on Wednesday after remarks from Federal Reserve officials reinforced the view that U.S. interest rates will remain near zero for some time.

US-BUSINESS Summary

Reuters — Wed, 11 Nov 2009 02:19:55 EST

Asian stocks rise with China recovery on track HONG KONG (Reuters) - Asian stocks rose for a fourth day in a row on Wednesday as Chinese factory output jumped to a 19-month high in October, while the ailing U.S. dollar hovered near a 15-month low. European stock markets were expected to open higher,...

Oil slides below $79 on mixed China data

Jennifer Tan — Wed, 11 Nov 2009 01:24:00 EST

SINGAPORE (Reuters) - Oil eased below $79 a barrel on Wednesday, as mildly bearish October loans data from China offset signs of robust industrial output and retail sales from the world's second-largest energy consumer.

Dodd's reform plan takes aim at the Fed

David Cho, Brady Dennis and Neil Irwin — Wed, 11 Nov 2009 00:00:00 EST

The chairman of the Senate Banking Committee on Tuesday unveiled a sweeping regulatory reform bill that would strip the Federal Reserve of nearly all of its power to oversee banks, setting up a possible clash with the Obama administration, which has argued for the central bank to play a pivotal r...

Legislation by Senator Dodd would overhaul banking regulators

Binyamin Appelbaum and Brady Dennis — Wed, 11 Nov 2009 00:00:00 EST

A regulatory bill that Sen. Christopher J. Dodd (D-Conn.) introduced Tuesday would create three agencies aimed at policing threats to the economy, preserving banks in good health and protecting borrowers from abuse.

Politicizing the Fed?

Post — Wed, 11 Nov 2009 00:00:00 EST

SENATE BANKING Committee Chairman Christopher J. Dodd (D-Conn.) insists the ambitious draft financial regulation bill that he unveiled Tuesday is not about Fed-bashing. Yes, it would transfer the Fed's consumer protection functions to a new agency. And true, whereas House Financial Services Commi...

The retirement problem

Simon Johnson and James Kwak — Tue, 10 Nov 2009 23:58:58 EST

Recent volatility in the stock market (the S&P 500 Index losing almost 50 percent of its value between September and March) has led some to question the wisdom of relying on 401(k) and other defined-contribution plans, invested largely in the stock market, for our nation's retirement security...

Fed officials see choppy recovery for U.S. economy

Pedro da Costa and Kristina Cooke — Tue, 10 Nov 2009 21:50:05 EST

AUSTIN/ATLANTA (Reuters) - High unemployment and reluctant consumers will likely make an incipient U.S. economic recovery weak and erratic, top Federal Reserve officials said in a string of speeches across the country on Tuesday.

Senate Dems move to curb Fed's powers

ANNE FLAHERTY — Tue, 10 Nov 2009 21:17:15 EST

WASHINGTON -- Senate Democrats on Tuesday proposed stripping the Federal Reserve of its supervisory powers and creating instead three new federal agencies to police banks, protect consumers and dismantle failing institutions.

Fed officials warn weak recovery won't spur jobs

JEANNINE AVERSA — Tue, 10 Nov 2009 21:07:15 EST

WASHINGTON -- Unemployment likely will remain high for the next several years because the economic recovery won't be strong enough to spur robust hiring, Federal Reserve officials warned Tuesday.

Business Highlights

AP — Tue, 10 Nov 2009 17:52:59 EST

-- Senate Dems move to curb Fed's powers WASHINGTON (AP) - Senate Democrats on Tuesday proposed stripping the Federal Reserve of its supervisory powers and creating instead three new federal agencies to police banks, protect consumers and dismantle failing institutions.

Stocks mostly fall after rally as the dollar rises

TIM PARADIS — Tue, 10 Nov 2009 17:42:34 EST

NEW YORK -- Caution returned to the stock market Tuesday as investors decided to slow an advance that has lifted the Dow Jones industrial average 475 points in five days.

Dollar decline pauses; euro stays just under $1.50

AP — Tue, 10 Nov 2009 16:45:30 EST

NEW YORK -- The dollar rout paused Tuesday, with the euro hovering just short of $1.50 as stocks zigzagged.

Geithner to Japan: spend more, export less

Glenn Somerville — Tue, 10 Nov 2009 10:26:03 EST

TOKYO (Reuters) - U.S. Treasury Secretary Timothy Geithner on Tuesday told his Japanese counterpart that a commitment by Tokyo to rely less on exports and more on domestic consumption to power growth will benefit the global economy.

US-BUSINESS Summary

Reuters — Tue, 10 Nov 2009 02:47:51 EST

Dow hits 2009 high NEW YORK (Reuters) - A broad U.S. stocks rally sent the Dow industrials to a 13-month high on Monday, after the Group of 20 pledged to keep aid flowing to the world economy, strengthening investors' desire for risk. The agreement by G20 finance ministers and central bankers over...

Asia shares rise on improving risk appetite

Susan Fenton — Tue, 10 Nov 2009 02:47:46 EST

HONG KONG (Reuters) - Asian stocks nudged higher on Tuesday on hopes continued stimulus will support economic recovery, while the dollar hovered near a 15-month low on expectations U.S. rates will remain near zero.

Oil below $79 as storm fears abate, stocks seen up

Felicia Loo — Tue, 10 Nov 2009 01:44:27 EST

SINGAPORE (Reuters) - Oil prices eased to below $79 a barrel on Tuesday, as tropical storm Ida, which cut U.S. oil and gas supplies, was downgraded from a powerful hurricane and U.S. crude oil stockpiles were forecast to rise slightly.

Globalization brings a world of hurt to one corner of North Carolina

Peter Whoriskey — Tue, 10 Nov 2009 00:00:00 EST

HICKORY, N.C. -- The expansion of global trade may enrich the United States, as economists say, but it has overwhelmed this manufacturing area beside the Blue Ridge Mountains.

Dow hits 2009 high

Rodrigo Campos — Mon, 09 Nov 2009 22:54:28 EST

NEW YORK (Reuters) - A broad U.S. stocks rally sent the Dow industrials to a 13-month high on Monday, after the Group of 20 pledged to keep aid flowing to the world economy, strengthening investors' desire for risk.

Dow jumps 204 to high for year as dollar slumps

TIM PARADIS — Mon, 09 Nov 2009 18:21:23 EST

NEW YORK -- The Dow Jones industrial average stormed to its highest level in more than a year Monday as a falling dollar boosted prices for gold, oil and other commodities. Stocks also jumped as investors grew more confident that governments around the world will keep interest rates low to help the...

AP News in Brief at 5:58 p.m. EST

AP — Mon, 09 Nov 2009 18:13:36 EST

-- Lawyer headed to meet Fort Hood shooting suspect, asks investigators not to question him

Business Highlights

AP — Mon, 09 Nov 2009 17:56:55 EST

-- Dow jumps 204 to high for year as dollar slumps

Dollar slides after G-20 stimulus pledge

AP — Mon, 09 Nov 2009 16:41:17 EST

NEW YORK -- The dollar slid Monday after the world's leading economies agreed to keep stimulus measures intact for the time being.

World markets get G-20 boost while dollar slides

PAN PYLAS — Mon, 09 Nov 2009 13:00:35 EST

LONDON -- World stock markets rose sharply Monday but the dollar fell after the Group of 20 rich and developing countries agreed to maintain their stimulus measures as long as economies remained weak.

Dollar down again as G20 backs ongoing stimulus

PAN PYLAS — Mon, 09 Nov 2009 07:29:31 EST

LONDON -- The euro pushed back up above $1.50 Monday after finance ministers from the Group of 20 rich and developing countries steered clear from addressing the weakness of the U.S. currency against most of its competitors at a meeting over the weekend.

US-BUSINESS Summary

Reuters — Mon, 09 Nov 2009 01:56:39 EST

Stocks eye retailers as jobless ranks grow NEW YORK (Reuters) - As unemployment in the United States edges above 10 percent, anxious investors will look to earnings reports from major retailers for signs of life in the beaten-up consumer. Comments from Wal-Mart Stores Inc , the world's...

Asia stocks rise, bonds fall as risk sought

Kevin Plumberg — Mon, 09 Nov 2009 01:56:35 EST

HONG KONG (Reuters) - Asian stocks and currencies rose on Monday on bets a surge in the U.S. unemployment rate to a 26-1/2-year high would force policymakers to keep many stimulus measures in place until an economic recovery spread further.

Asian markets track US higher after jobs report

TOMOKO A. HOSAKA — Mon, 09 Nov 2009 01:18:57 EST

TOKYO -- Asian stock markets rose Monday as investors took a surprisingly weak U.S. jobs report as a sign that interest rates in the world's largest economy will stay low longer than expected.

US-POLITICS Summary

Reuters — Mon, 09 Nov 2009 01:12:14 EST

Healthcare measure faces tough path in Senate WASHINGTON (Reuters) - After a landmark win in the House of Representatives, President Barack Obama's push for healthcare reform faces a difficult path in the Senate amid divisions in his own Democratic Party on how to proceed. On a 220-215 vote,...

Stocks eye retailers as jobless ranks grow

Edward Krudy — Sun, 08 Nov 2009 11:30:30 EST

NEW YORK (Reuters) - As unemployment in the United States edges above 10 percent, anxious investors will look to earnings reports from major retailers for signs of life in the beaten-up consumer.

US-BUSINESS Summary

Reuters — Sun, 08 Nov 2009 02:59:25 EST

Stocks eye retailers as jobless ranks swell NEW YORK (Reuters) - As unemployment in the United States edges above 10 percent, anxious investors will look to earnings reports from major retailers for signs of life in the beaten-up consumer. Comments from Wal-Mart Stores Inc , the world's...

US-NEWS Summary

Reuters — Sun, 08 Nov 2009 02:47:48 EST

House passes sweeping healthcare overhaul WASHINGTON (Reuters) - The House of Representatives approved a sweeping healthcare reform bill on Saturday, backing the biggest health policy changes in four decades and handing President Barack Obama a crucial victory. On a narrow 220-215 vote, including...

US-POLITICS Summary

Reuters — Sun, 08 Nov 2009 02:45:46 EST

Alec MacGillis -- Why aren't President Obama's job-creation efforts more direct?

Alec MacGillis — Sun, 08 Nov 2009 00:00:00 EST

To hear President Obama tell it, he's been busy creating jobs since taking office. The $787 billion stimulus package, he said last winter, would "save or create 3.5 million jobs." The White House is touting reports from recipients of stimulus funds asserting that they have created or saved 640,000...

Jobless rate surges to 10.2 percent

Lucia Mutikani — Sat, 07 Nov 2009 11:49:48 EST

WASHINGTON (Reuters) - The U.S. jobless rate unexpectedly jumped to 10.2 percent last month, a 26-1/2-year high, adding to pressure on the Obama administration to do more to tackle unemployment even as signs of recovery mount.

Analysis: 10 percent jobless is Obama's new world

JIM KUHNHENN — Sat, 07 Nov 2009 07:44:40 EST

WASHINGTON -- For months he had warned it was coming but that didn't ease the political shockwaves for President Barack Obama when unemployment topped 10 percent.

US-POLITICS Summary

Reuters — Sat, 07 Nov 2009 01:44:58 EST

House set to open healthcare debate WASHINGTON (Reuters) - With a close vote looming, the U.S. House of Representatives was expected to open debate on Saturday on a sweeping reform bill that would spark the biggest healthcare changes in four decades. President Barack Obama planned to visit Congress...

Fed losing support for bank oversight role

Brady Dennis and David Cho — Sat, 07 Nov 2009 00:00:00 EST

Key Democratic lawmakers are threatening to dismantle the Obama administration's plans to place the Federal Reserve at the heart of efforts to overhaul the financial regulatory system.

Analysis: 10 percent jobless is Obama's new world

JIM KUHNHENN — Fri, 06 Nov 2009 21:21:48 EST

WASHINGTON -- For months he had warned it was coming but that didn't ease the political shockwaves for President Barack Obama when unemployment topped 10 percent.

US-BUSINESS Summary

Reuters — Fri, 06 Nov 2009 20:00:20 EST

Oil settles lower after US unemployment report

CHRIS KAHN — Fri, 06 Nov 2009 19:39:50 EST

NEW YORK -- Oil prices tumbled Friday after the government said the U.S. unemployment rate topped 10 percent for the first time since 1983.

Stocks eye retailers as jobless ranks swell

Edward Krudy — Fri, 06 Nov 2009 18:59:07 EST

NEW YORK (Reuters) - As unemployment in the United States edges above 10 percent, anxious investors will look to earnings reports from major retailers for signs of life in the beaten-up consumer.

Business Highlights

AP — Fri, 06 Nov 2009 18:47:25 EST

-- Jobless rate tops 10 pct. for first time since '83

What recovery? Unemployment shoots past 10 percent

JEANNINE AVERSA and CHRISTOPHER S. RUGABER — Fri, 06 Nov 2009 18:39:33 EST

WASHINGTON -- Just when it was beginning to look a little better, the economy relapsed Friday with a return to double-digit unemployment for only the second time since World War II and warnings that next year will be even worse than previously thought.

AP News in Brief

AP — Fri, 06 Nov 2009 18:23:14 EST

-- Fort Hood suspect gave away belongings, said methodical goodbyes, before shooting rampage

Stocks post modest gains as job losses slow

SARA LEPRO and TIM PARADIS — Fri, 06 Nov 2009 18:10:08 EST

NEW YORK -- Investors undaunted by a surprisingly weak jobs report found enough positive news to nudge stocks higher Friday.

Obama weighs steps to spur jobs, wary on deficit

Alister Bull and Andy Sullivan — Fri, 06 Nov 2009 17:09:48 EST

WASHINGTON (Reuters) - U.S. President Barack Obama on Friday listed a range of fresh options being considered by the White House to spur growth after "sobering" news that unemployment spiked to a 26 1/2-year peak last month.

Dollar choppy after unemployment tops 10 percent

AP — Fri, 06 Nov 2009 16:46:26 EST

NEW YORK -- The safe-haven dollar got an immediate boost Friday after the government said the U.S. unemployment rate rose above 10 percent, but then gave back its gains in choppy trading as investors figured that a weak economy meant the Federal Reserve would keep interest rates at their current...

U.S. jobless rate surges to 10.2 percent

Lucia Mutikani — Fri, 06 Nov 2009 16:45:46 EST

U.S. jobless rate surges to 10.2 percent

Lucia Mutikani — Fri, 06 Nov 2009 16:45:46 EST

Analysis: 10 percent jobless is Obama's new world

JIM KUHNHENN — Fri, 06 Nov 2009 16:43:58 EST

WASHINGTON -- For months he had warned it was coming but that didn't ease the political shockwaves for President Barack Obama when unemployment topped 10 percent.

U.S. OKs two more import probes versus China

Reuters — Fri, 06 Nov 2009 12:30:30 EST

WASHINGTON (Reuters) - A U.S. trade panel on Friday approved two new investigations into charges of unfair trade practices by China, but rejected another one week ahead of President Barack Obama's trip to Asia.

U.S. OKs two more import probes versus China

Reuters — Fri, 06 Nov 2009 12:30:30 EST

World stocks fall as US jobless rate hits 10.2 pct

CARLO PIOVANO — Fri, 06 Nov 2009 09:15:51 EST

LONDON -- European stocks fell and Wall Street was expected to drop on the open Friday after data showed the U.S. unemployment rate jumped to 10.2 percent in October, more than expected, as 190,000 jobs were cut.

China criticizes US over pipe duties

JOE McDONALD — Fri, 06 Nov 2009 06:23:42 EST

BEIJING -- China criticized Washington for imposing anti-dumping duties on Chinese-made steel pipes and launched a probe Friday of imported U.S. autos, adding to trade tensions two weeks before President Barack Obama visits Beijing.

US-BUSINESS Summary

Reuters — Fri, 06 Nov 2009 01:42:08 EST

Asia stocks, oil advance before U.S. job numbers HONG KONG (Reuters) - Asian stocks rose ahead of the latest U.S. payrolls report on Friday, expected to show the fewest job losses since August 2008, while oil prices recovered to $80 a barrel after a sharp drop on high U.S. fuel inventories. Stock...

Asia stocks, oil advance before U.S. job numbers

Kevin Plumberg — Fri, 06 Nov 2009 01:41:35 EST

HONG KONG (Reuters) - Asian stocks rose ahead of the latest U.S. payrolls report on Friday, expected to show the fewest job losses since August 2008, while oil prices recovered to $80 a barrel after a sharp drop on high U.S. fuel inventories.

China blasts U.S. duties ahead of Obama visit

Lucy Hornby and Chris Buckley — Fri, 06 Nov 2009 01:25:01 EST

BEIJING (Reuters) - China denounced as protectionist new U.S. anti-dumping duties on steel pipes on Friday and called for Washington's swift recognition that it is a market economy, a week before a visit by U.S. President Barack Obama.

China blasts U.S. duties ahead of Obama visit

Lucy Hornby and Chris Buckley — Fri, 06 Nov 2009 01:25:01 EST

Asian markets rise after US rally on upbeat data

KELLY OLSEN — Fri, 06 Nov 2009 01:01:48 EST

SEOUL, South Korea -- Asian markets advanced Friday on the back of Wall Street's rally after upbeat economic figures revived confidence about the state of the U.S. economy.

Companies sitting on piles of cash

Steven Mufson — Fri, 06 Nov 2009 00:00:00 EST

In the summer of 2008, steel giant Nucor decided to raise some cash. It issued new shares of stock and floated some corporate bonds. As financial markets crumbled, the company ignored pleas from some investors and analysts that it buy back shares, which are now selling for about half their peak.

Stocks surge on jobs data, Cisco forecast

TIM PARADIS — Thu, 05 Nov 2009 18:09:10 EST

NEW YORK -- A bright forecast from Cisco Systems and upbeat economic news sent stocks soaring Thursday and propelled the Dow Jones industrials back above 10,000. The rally, coming a day before the government's October employment report, showed that investors are regaining their optimism about an...

Business Highlights

AP — Thu, 05 Nov 2009 17:51:44 EST

-- October sales offer relief to merchants NEW YORK (AP) - Stores are heading into the period with slashed inventories, determined not to have the fire sales that characterized last Christmas. But shoppers are still facing tight credit and a weak job market and might wait for fat discounts or not...

Fed's balance sheet expands in latest week

Reuters — Thu, 05 Nov 2009 17:32:01 EST

NEW YORK (Reuters) - The U.S. Federal Reserve's balance sheet grew slightly in the latest week on increased holdings of government and mortgage agency debt, Fed data showed on Thursday.

Productivity surges, job growth should follow

Lucia Mutikani — Thu, 05 Nov 2009 16:23:28 EST

WASHINGTON (Reuters) - U.S. business productivity grew at its fastest clip in six years in the third quarter and new claims for jobless aid fell to a 10-month low last week, suggesting the labor market may be starting to bottom out.

Productivity surges, job growth should follow

Lucia Mutikani — Thu, 05 Nov 2009 16:23:28 EST

Dollar flat as ECB, BoE leave rates unchanged

TALI ARBEL — Thu, 05 Nov 2009 16:00:19 EST

NEW YORK -- The dollar was nearly flat Thursday after the European Central Bank and Bank of England left their respective key interest rates unchanged.

Senator: No fed money for US-China wind project

H. JOSEF HEBERT — Thu, 05 Nov 2009 15:58:39 EST

WASHINGTON -- A Democratic senator on Thursday called on the Obama administration to reject an expected request for federal economic stimulus money as part of a $1.5 billion West Texas wind energy project, saying it will generate Chinese, not American, jobs - a claim strongly disputed by the...

Oil falls below $80; demand outlook uncertain

Edward McAllister — Thu, 05 Nov 2009 15:22:06 EST

NEW YORK (Reuters) - Oil fell nearly 1 percent to below $80 a barrel on Thursday, as doubts about a recovery in oil demand outweighed positive economic signals.

US-BUSINESS Summary

Reuters — Thu, 05 Nov 2009 02:59:55 EST

Asian shares dip on Fed outlook HONG KONG (Reuters) - Asian shares fell on Thursday, while the dollar recovered most losses made after the U.S. Federal Reserve vowed to keep rates near zero for "an extended period" and saw a sluggish recovery in the world's biggest economy. European shares were set...

Asian shares dip on Fed outlook

Susan Fenton — Thu, 05 Nov 2009 02:34:11 EST

HONG KONG (Reuters) - Asian shares fell on Thursday, while the dollar recovered most losses made after the U.S. Federal Reserve vowed to keep rates near zero for "an extended period" and saw a sluggish recovery in the world's biggest economy.

Asia stocks drop amid economic recovery doubts

ALEX KENNEDY — Thu, 05 Nov 2009 00:58:56 EST

SINGAPORE -- Asian stocks markets dropped Thursday as the U.S. Federal Reserve failed to reassure investors that a lasting recovery in the global economy was taking hold.

Fed stands by rock-bottom interest rates for near future

Neil Irwin — Thu, 05 Nov 2009 00:00:00 EST

Federal Reserve leaders are sticking with their policy of very low interest rates for some time to come, they indicated Wednesday, but gave new details of the factors they will use to decide when to change course.

Business Highlights

AP — Wed, 04 Nov 2009 18:12:43 EST

-- Fed again pledges to hold rates at record-lows WASHINGTON (AP) - The Federal Reserve pledged Wednesday to keep a key interest rate at a record low for an "extended period," signaling that the weak economy remains dependent on government help to grow.

Stocks give up gains in last hour, finish mixed

TIM PARADIS — Wed, 04 Nov 2009 17:54:16 EST

NEW YORK -- A late-day slump left stocks mixed Wednesday as investors couldn't hold on to their optimism after the Federal Reserve gave an encouraging assessment of the economy.

Wall Street rally fades late after Fed; Cisco up late

Chuck Mikolajczak — Wed, 04 Nov 2009 17:20:01 EST

NEW YORK (Reuters) - U.S. stocks rallied but lost steam

Fed again pledges to hold rates at record-lows

JEANNINE AVERSA — Wed, 04 Nov 2009 17:10:58 EST

WASHINGTON -- The Federal Reserve pledged Wednesday to keep a key interest rate at a record low for an "extended period," signaling that the weak economy remains dependent on government help to grow.

ISM's service sector index grows again in October

TALI ARBEL — Wed, 04 Nov 2009 16:44:47 EST

NEW YORK -- The U.S. service sector grew for a second straight month in October, but at a slower pace than in September, as a broad economic recovery creeps along.

U.S. services sector grows, job losses slow

Kristina Cooke — Wed, 04 Nov 2009 15:55:52 EST

NEW YORK (Reuters) - The U.S. services sector grew modestly for a second month in a row in October and private sector employers cut jobs at the slowest pace in more than a year, adding to signs the economy is crawling back to health.

Dollar declines as Fed holds interest rates low

AP — Wed, 04 Nov 2009 15:54:49 EST

NEW YORK -- The dollar declined after the Federal Reserve held its benchmark interest rate at a record low near zero and again pledged to keep it there for an "extended period" to foster the fragile economic recovery.

Oil: back to $80 per barrel as dollar slides

CHRIS KAHN — Wed, 04 Nov 2009 15:41:37 EST

NEW YORK -- Crude prices bounced above $80 per barrel once again on Wednesday, a level that even OPEC leaders have said is too high given the fragile state of the global economy.

A look at the past 3 Fed statements on economy

AP — Wed, 04 Nov 2009 15:25:18 EST

-- A look at the evolution of the Federal Reserve's statements on the economy from its three most recent meetings:

Fed sees rates near zero for extended period

Mark Felsenthal and David Lawder — Wed, 04 Nov 2009 14:50:39 EST

WASHINGTON (Reuters) - The U.S. Federal Reserve on Wednesday expressed growing confidence that an economic recovery was building, even though it stuck to its commitment to keep borrowing costs near zero for "an extended period."

Fed sees rates near zero for extended period

Mark Felsenthal and David Lawder — Wed, 04 Nov 2009 14:50:39 EST

Editorial Roundup: Excerpts From Recent Editorials

The Associated Press — Wed, 04 Nov 2009 13:34:04 EST

-- Excerpts from recent editorials in newspapers in the United States and abroad:

For Americans, deficit pain is felt close to home

Pascal Fletcher — Wed, 04 Nov 2009 11:38:30 EST

MIAMI (Reuters) - Christopher O'Neill is worried about the deficit. The deficit, that is, in his personal income after the 26-year-old Miami finance analyst was forced to find a temporary job paying $20,000 a year less than he earned until January when he was laid off from his auditor's post in...

Ahead of the Bell: ISM service sector index

AP — Wed, 04 Nov 2009 06:08:05 EST

NEW YORK -- A trade group's measure of the health of the U.S. service sector likely rose for a second straight month in October as consumer spending ticks higher, a crucial ingredient for a strong rebound from the recession.

Fed likely to keep key interest rate at record low

JEANNINE AVERSA — Wed, 04 Nov 2009 02:58:29 EST

WASHINGTON -- Faced with lurking dangers to the budding recovery, Federal Reserve policymakers are sure to leave a key interest rate at a record low to entice Americans to spend more and help the economic turnaround gain traction.

US-BUSINESS Summary

Reuters — Wed, 04 Nov 2009 02:39:26 EST

Asian stocks edge higher ahead of Fed decision TOKYO (Reuters) - The dollar steadied below a one-month high against a basket of currencies on Wednesday, while Asian stocks edged higher in muted trade ahead of a policy announcement from the Federal Reserve that kept investors wary. Oil fell for the...

Asian stocks edge higher ahead of Fed decision

Elaine Lies — Wed, 04 Nov 2009 02:39:24 EST

TOKYO (Reuters) - The dollar steadied below a one-month high against a basket of currencies on Wednesday, while Asian stocks edged higher in muted trade ahead of a policy announcement from the Federal Reserve that kept investors wary.

Oil steady as U.S. crude stocks drop offsets fuel rise

James Topham — Wed, 04 Nov 2009 02:30:26 EST

SINGAPORE (Reuters) - Oil held steady above $79 a barrel on Wednesday, after rising nearly 2 percent a day ago, following an industry report showing a rise in fuel inventories in the United States, though crude fell unexpectedly.

Fed seen staying on easy-money path

Mark Felsenthal — Wed, 04 Nov 2009 01:14:40 EST

WASHINGTON (Reuters) - The Federal Reserve on Wednesday is expected to reaffirm its intention to keep U.S. interest rates at ultra-low levels for a long time to support the economy, even as signs of recovery accumulate.

Fed seen staying on easy-money path

Mark Felsenthal — Wed, 04 Nov 2009 01:14:40 EST