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Mogadishu truck bombing death toll jumps to 358
BBC News - World 20-10-2017 21:47
More than 50 people are also still missing after last Saturday's huge truck bombing, officials say.
King Felipe VI says Catalonia 'will remain' Spanish
BBC News - World 20-10-2017 21:42
King Felipe VI says Spain will solve the crisis through democratic institutions.
Afghan suicide mosque attacks kill scores of worshippers
BBC News - World 20-10-2017 20:04
Some 60 people are killed as worshippers are targeted in two separate attacks on mosques.
Iraq Kurds: Army claims full control of Kirkuk province
BBC News - World 20-10-2017 18:00
Kurdish forces have not confirmed reports that they have given up the last area under their control.
Malawi cracks down on 'vampire' lynch mobs
BBC News - World 20-10-2017 17:02
Some 140 arrests are made over deadly attacks on people accused of sucking their victims' blood.
São Paulo's food pellets plan for poor children divides Brazil
BBC News - World 20-10-2017 16:45
A row is brewing over plans to use reconstituted food from leftovers near expiry to feed poor kids.


'Huge business rate rise' for small firms
BBC News - Business 20-10-2017 22:38
Inflation-busting increases are looming for thousands of shops in England, says research firm CVS.
BMW headquarters searched by EU investigators
BBC News - Business 20-10-2017 20:20
EU investigators are looking into allegations of a cartel involving BMW and four other German car giants.
Police conduct inquiries into Royal Bank of Scotland unit
BBC News - Business 20-10-2017 19:22
Officers are looking into a division of the bank set up to help failing firms, the BBC understands.
Government borrowing at lowest September level for 10 years
BBC News - Business 20-10-2017 12:21
The figures were the third straight month in which UK public finances were better than analysts forecast.
Rail firms 'consider' railcard for 26 to 30-year-olds
BBC News - Business 20-10-2017 10:23
It's thought one train company will begin trials of the new railcard in December
Australian carmaking runs out of road
BBC News - Business 19-10-2017 17:35
The final vehicle left the production line on Friday, in what many consider a symbolic moment.


In News
Written by  Thursday, 24 May 2012 08:53

The Federal Open Market Committee (FOMC) of the Fed released its latest policy statement on Wednesday ahead of Chairman Ben Bernanke’s widely anticipated and expected press conference, scheduled for 2:15 PM eastern time.  In its statement, FOMC members blamed Japan and high commodities for the current slowdown in the economic recovery, telling people those effects would prove to be transitory.  QE2, as expected, will end with June.

The FOMC statement was bland - Wikipedia

Expectant market watchers looked to the Fed release for signs that anything would change, that Bernanke might signal something new this time around.  While the FOMC release appeared little changed, it was relevant that the Committee confirmed that the economic  recovery “is continuing at a moderate pace,” albeit “somewhat more slowly” than expected.

Pointing its fingers to the rest of the world, Bernanke’s Fed said that the current “soft patch” is being caused by transitory effects.  Inflation, they said, was caused by high commodity prices pushing up energy and food costs, while supply-chain disruptions in Japan were in the process of being solved.

On quantitative easing, the FOMC said they would conclude the latest $600 billion plan of long-term asset purchases, or QE2, and said it would continue to reinvest the principal payments from its securities holdings; interest rates would remain at the 0% to 0.25% range for “an extended period.”

While not hinting at QE3, they did reiterate that the Fed would continue to monitor “the size and composition of its securities holdings and is prepared to adjust those holdings as appropriate.”  Market watchers will have to wait for the Q&A at the press conference for any further hints that Bernanke might continue to feed the markets with easy money.

Just wait and see, they asked the general public, telling them that as time passes, both unemployment and output would move back to levels at or around those consistent with their dual mandate of price stability and maximum employment.

Read 954 times Last modified on Friday, 24 April 2015 10:34
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