Economy News
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Yellen says Fed has 'more work to do' to aid recovery
WASHINGTON - Janet Yellen, President Barack Obama's nominee to chair the Federal Reserve, said the U.S. central bank has "more work to do" to help an economy and labor market that are still underperforming. | Video
U.S. budget deficit narrows in October from year ago
WASHINGTON - The U.S. budget deficit narrowed more than expected in October, aided by an improved economy and an austerity push that has cut spending and raised taxes, data showed on Wednesday.
Supreme Court weighs employer-union organizing deals
WASHINGTON - Supreme Court justices appeared reluctant on Wednesday to undermine agreements unions make with private-sector employers when organizing workers.
Analysis: Time for Fed to accept that U.S. growth not what it used to be?
NEW YORK/SAN FRANCISCO - Year after year Federal Reserve policymakers have clung to a belief that the U.S. economy will soon regain its pre-recession stride. And year after year they have been wrong.
U.S. mortgage applications dip in latest week: MBA
NEW YORK - Applications for U.S. home loans slipped in the latest week, although a drop in the previous week was revised to a smaller fall than previously reported, data from an industry group showed on Wednesday.
Two Fed officials say aggressive policy action still needed
MONTGOMERY, Ala./ST. PAUL, Minnesota - The Federal Reserve should keep monetary policy ultra-easy given the economy's tepid growth and an uncertain outlook for jobs growth, two senior officials said on Tuesday, reinforcing views that the U.S. central bank will not taper bond buying before next year.
Fed's Lockhart: jobs report doesn't alter December QE taper decision
MONTGOMERY, Alabama - The "encouraging" October jobs report does not fundamentally change the equation when Federal Reserve policymakers gather next month to decide whether to reduce the pace of their asset purchases, a top U.S. central banker predicted on Tuesday.
Fed's Lockhart cautious on 2014 U.S. growth
MONTGOMERY, Alabama - A top Federal Reserve official said on Tuesday he is very cautious about his expectation of a pick-up next year in economic growth because forecasts have proven wrong the last few years, and recent data is "somewhat mixed."
Fed's Kocherlakota: No need to fear monetary stimulus
ST. PAUL, Minnesota - With inflation running well below the level that the Federal Reserve sees as desirable, there is little cause for concern that super-easy monetary policy will lead to runaway price rises, a top Fed official said on Tuesday.
Fed's Lockhart: keep policy 'very accommodative'
MONTGOMERY, Alabama - U.S. monetary policy ought to stay "very accommodative" to foster job creation amid tepid growth, a senior Federal Reserve official said on Tuesday, warning that inflation was too low and this was raising concerns about the durability of the recovery.
Markets
- U.S.
- Europe
- Asia
- Sectors
| DOW | 15,821.63 |  +70.96 |
+0.45% |
| S&P; 500 | 1,782.00 | +14.31 |
+0.81% |
| NASDAQ | 3,965.57 | +45.65 |
+1.16% |
| TR US Index | 162.56 | +1.38 |
+0.85% |
Sector Summary
| Energy | +0.48% |
| Basic Materials | +0.19% |
| Industrials | +0.26% |
| Cyclical Goods & Services | +0.80% |
| Non-Cyclical Goods & Services | +0.50% |
| Financials | +0.43% |
| Healthcare | +0.32% |
| Technology | +1.02% |
| Telecoms |  -0.22% |
| Utilities | +0.38% |
Brussels looks warily at German surplus
EU economics chief Olli Rehn expected to launch a review of Germany's surplus
UPDATE 1-Yellen says Fed has 'more work to do' to aid recovery
WASHINGTON, Nov 13 - Janet Yellen, President Barack Obama's nominee to chair the Federal Reserve, said the U.S. central bank has "more work to do" to help an economy and labor market that are still underperforming.
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