Search Result for : Janet Yellen

The Dollar Business Bureau Jerome Powell will succeed Janet Yellen as the next chairman of the US’ Federal Reserve Bank - the most powerful central bank in the world. The selection of Powell has been confirmed by the US Senate with 84-13 vote with support from both Republicans as well as many Democrats. Powell, a 64-year-old lawyer, was nominated by President Donald Trump in November last year. He has served on the Federal Reserve’s board since 2012, and would take over when Yellen’s term expires on February 3, 2018. Yellen, the present chairman of Federal Reserve, was selected in 2014 by President Barack Obama and has been the first woman to be appointed on the position. Powell was seen as a safe choice by ...

The Dollar Business Bureau Estimating a positive economic prospect for the US, Janet L Yellen, Chairwoman, Federal Reserve System Board has told the American lawmakers that the world growth is likely to boost the US exports. “I expect that, with further gradual adjustments in the stance of monetary policy, the economy will continue to expand at a moderate pace over the next couple of years, with the job market strengthening somewhat further and inflation rising to 2%,” she told House Finance Services Committee members during a Congressional hearing. “This judgement shows our view that the monetary policy continue to be accommodative. The present job gains would continue supporting the growth in incomes, thereby consumer spending. The world economic growth should further support US ...

The Dollar Business Bureau Keeping in view the US’ recovering economy and the investors’ positive sentiments around it, the US Federal Reserve Chair Janet Yellen on Friday said the fed will adopt a more aggressive rate path ahead, first by raising interest rates at its next meeting on March 14-15, and possibly make further adjustments after the meeting.   "At our meeting later this month, the committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal fund rates would likely be appropriate," Yellen said. “We realise that waiting too long to scale back some of our support could potentially require us to raise rates rapidly sometime down the road, ...

The Dollar Business Bureau  The two-day Federal Reserve meeting concluded with an unchanged rate of interest with the policy-makers hinting at an expected surge in the month of December. This was the last decision by the reserve before the US elections slated for November 8. The policymakers also observed that inflation was moving towards their expected target of 2%. The Federal Reserve said that the US economy is becoming better, thus allowing interest rates to rise soon and lead to a strengthening case of more expensive loans. This was apparently not good news for some investors who sold off stocks after the release of the statement. Though the labor market witnessed a modest pace of growth in the first half of 2016, the ...

The Dollar Business Bureau Oil prices have steadied on Thursday after Saudi Arabia was confident that OPEC was moving towards a common decision on oil production. US crude futures were unchanged at $44.70 a barrel after a steep fall $1.65 in the previous session. Oil had dipped low, extending losses in Asia on Wednesday on the back of a strong dollar while Iran's oil minister made a statement that his country planned to boost output ramped up oversupply worries. According to Bijan Zangeneh, an informal meeting of Organization of the Petroleum Exporting Countries (OPEC) during September may not close a deal that would hike the oil prices. He said that Iran requires raising its production capacity to recapture the market share. ...

The Dollar Business Bureau Federal Reserve Chair Janet Yellen on Monday stressed that despite a relatively weak GDP growth rate early this year, the US economy looks fundamentally solid.“The economy has registered considerable progress over the past several years toward the Federal Reserve's goals of maximum employment and price stability, and there are good reasons to expect that we will advance further toward those goals,” Yellen said at the World Affairs Council in Philadelphia.Listing out some of the positive facets of the current US economic scenarios, Yellen said the US’s overall labour market seems to be good, with rising household income, increasing customer spending, low energy prices, controlled inflation and signs of faster wage growth.She underscored that the domestic demand continues ...

Source: PTI Reserve Bank may further lower the interest rate if inflation continues to ease and the monsoon turns out to be good, Governor Raghuram Rajan has said. "We are looking at inflation. If it continues on a downward path, that would create room (for further rate cuts)," he said. Earlier this month, RBI reduced its policy rate by 0.25% to 6.5% -- its lowest level in more than five years. While this was the first rate cut after a gap of six months, RBI has lowered its rate by 1.5% cumulatively since January 2015. Still, the industry wants further rate cuts from RBI to boost investment. During the same time period, the banks have lowered their own lending rate by 0.25-0.5%. Rajan, ...

The Federal Reserve cut its outlook for the US economy and kept its interest rate policy unchanged today, citing the impact of the global slowdown and turmoil in world markets Source: PTI Fed Chair Janet Yellen said gains in prices relate to "categories that tend to be quite volatile, without very much significance for inflation over time.   The Federal Reserve cut its outlook for the US economy and kept its interest rate policy unchanged today, citing the impact of the global slowdown and turmoil in world markets. Giving a picture of the US economy that was less bullish than many had expected, the Fed still forecast continuing hikes to the benchmark federal funds rate this year, but at a slower pace than foreseen ...