Federal Reserve

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Federal Reserve Chair Janet Yellen lashed out at the culture in the nation’s biggest banks on Tuesday saying “there may be pervasive shortcomings in the values of large financial firms that might undermine their safety and soundness.” In a speech in New York City, Yellen, who as head of the Federal Reserve is the nation’s …

Kevin Lamarque | Reuters
Federal Reserve Chair Janet Yellen adjusts her glasses as she testifies at a Senate Banking, Housing and Urban Affairs Committee hearing on "Semiannual Monetary Policy Report to Congress" on Capitol Hill in Washington, February 24, 2015.

This is a breaking news article. Please check back for updates. At the height of the financial crisis in 2009, Janet Yellen told her colleagues things were so bad that people were literally breaking into piggy banks to get cash. The Federal Reserve chair, who headed the central bank’s San Francisco district at the time, …

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If investors learned anything from Fed Chair Janet Yellen’s testimony to Congress this week, it’s that the central bank is willing to wait for inflation to catch up to employment before hiking rates. It could be a long wait—longer, in fact, than many market participants anticipate. Language tweaks in Yellen’s semiannual appearance Tuesday and Wednesday …

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St. Louis Fed President James Bullard told CNBC on Thursday the word “patient” should come out of the policy statement in March to give options for raising interest rates this summer. “There’s too much focus about the first move,” he said. “It’s really the path of rates that matter.” Bullard, who’s generally hawkish, called possible …

Investors await Yellen

Federal Reserve Chair Janet Yellen testifies in front of Congress tomorrow and there are certain words investors need to watch for.

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Janet Yellen, Chair of the Federal Reserve.

Federal Reserve Chair Janet Yellen has a few fences to mend. That’s because the normally chummy relationship the U.S. central bank has with Wall Street hit a bump last week when minutes from the Open Market Committee’s most recent meeting left room for confusion about the Fed‘s path forward. Where the market thought the FOMC was …

Fed remains patient

The Federal Reserve’s latest meeting minutes suggested that policy makers are inclined to wait before hiking interest rates, because moving too soon could stall the recovery.

Andrew Harrer | Bloomberg | Getty Images
The Federal Reserve building in Washington, D.C.

Federal Reserve policymakers voted in unison last month not to raise interest rates, but the discussions leading to the vote show considerable levels of hand-wringing over the course ahead. January meeting minutes released Wednesday show a Fed Open Market Committee concerned over its credibility and the path it should take toward normalizing monetary policy. Issue …

U.S. economic growth slows

The U.S. economy didn’t expand by as much as economists thought it would in the fourth quarter, but one voting member of the Federal Reserve isn’t concerned.

Kevin Lamarque | Reuters
U.S. Federal Reserve Chair Janet Yellen speaking at the Federal Reserve in Washington December 17, 2014.

The Fed said it would remain “patient” on raising rates, but indicated it saw the U.S. economy getting stronger. The Federal Open Market Committee released its statement Wednesday afternoon. In a unanimous vote, the FOMC said that “the Committee judges that it can be patient in beginning to normalize the stance of monetary policy.” That …

Fed meeting preview

As the Federal Reserve begins its two-day meeting, Steve Liesman takes a look at whether or not the central bank is any closer to raising benchmark interest rates.

Adam Jeffery | CNBC
James Bullard, president of the Federal Reserve St. Louis.

While 2014 featured the biggest growth in 15 years, Friday’s jobs report left at least one key constituency unimpressed. The St. Louis branch of the Federal Reserve, in a brief post following the release of the non-farm payrolls count, added to its rolling chart of the monthly gains. However, in a tweet sent out Sunday, …

December Fed meeting minutes

The Federal Reserve is sticking to its plan to hike rates later this year.

Petras Malukas | AFP | Getty Images
A buyer picks up euro coins in a supermarket in Vilnius on January 1, 2015.

Think of it as Europe staging a giant 15 percent off sale. With its economy slogging along at a near standstill last year, the euro has slid nearly 15 percent since May. That’s offering travel and shopping bargains to U.S. consumers and anyone else paying in dollars. But American companies selling or doing business in …

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I don’t make predictions on where the S&P 500 will end up next year, but if you look at what usually powers gains in the stock market—corporate profits or multiple expansion—it seems more likely that any gains will come from increasing corporate profits. Increasing the multiple is possible, but there are many headwinds. Let’s talk …