Sharp gains in the U.S. dollar are good for the U.S. labor market, a top Federal Reserve official said on Friday, downplaying a crescendo of complaints from top executives over the dent to their profits.
Tags: Federal Reserve
Japan stocks extend rally, upbeat data supports dollar
Japanese stocks rose to a fresh 15-year high on Friday with the dollar boosted by upbeat U.S. data, but continuing uncertainty over the Greek debt negotiations weighed on the euro.
Fed officials worried about hiking rates too soon: minutes
Federal Reserve policymakers expressed concern last month that raising interest rates too soon could pour cold water on the U.S. economic recovery, and fretted over the impact of dropping "patient" from the central bank's rate guidance.
Asia shares rise on reduced Greek pessimism, dollar stands tall
Asian equities tracked a mild bounce on Wall Street, edging higher on Wednesday as pessimism about the Greek debt saga receded somewhat, while the dollar strengthened against the yen thanks to higher U.S. debt yields.
U.S. wholesale stocks weak; job openings highest since 2001
U.S. wholesale inventories barely rose in December, the latest suggestion that economic growth in the fourth quarter was even slower than initially thought.
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For months now Federal Reserve policymakers have watched the economic turmoil overseas, from Ebola to Russia to the ongoing travails of the euro, and largely held their tongue.
Asian shares retreated on Thursday after the Federal Reserve unexpectedly lifted its view on the economy, signaling that the U.S. central bank remains firmly on track with plans to raise interest rates this year.
The Federal Reserve is expected to signal it remains on track to begin raising interest rates later this year, as the central bank shows confidence that low inflation and rising risks from abroad have yet to derail the U.S. economic recovery.
Asian stocks showed some resilience on Wednesday as investors speculated whether the Federal Reserve could take a dovish turn in its post-meeting statement later in the session, amid signs a stronger dollar was hurting U.S. corporate profits.
The Federal Reserve could be key for Wall Street next week as investors get to hear from the U.S. central bank for the first time since a series of moves by its global peers, including the European Central Bank's massive stimulus plan.
The New York Post said some of its Twitter accounts were hacked on Friday, in the wake of a series of inaccurate posts on the social network relating to the Federal Reserve, Bank of America and U.S. military engagement with China.
Citigroup Inc said its quarterly profit dropped 86 percent, hurt by legal settlements and falling bond trading revenue, sending the bank's shares down more than 4 percent.
U.S. consumer prices recorded their biggest drop in six years in December and a gauge of underlying inflation was flat, which could make the Federal Reserve more cautious about raising interest rates.
U.S. producer prices in December recorded their biggest fall in more than three years on tumbling energy costs while underlying inflation pressures were tame, a cautionary note for the Federal Reserve as it ponders its next step on monetary policy.
