Japanese stocks crawled to a fresh 15-year peak on Friday after the dollar surged against the yen as upbeat U.S. data flipped expectations back in favor of an early interest rate hike by the Federal Reserve.
Janet Yellen
U.S. consumer prices fell over the past year for the first time since 2009 as gasoline prices continued to tumble, which could allow a cautious Federal Reserve more room to hold off on raising interest rates.
Global equities set a new record high and bond yields sank to fresh lows on Thursday as investors positioned for an extended era of cheap money ahead of the European Central Bank's looming bond-buying scheme.
The Federal Reserve is preparing to consider interest rate hikes "on a meeting-by-meeting basis," Fed Chair Janet Yellen told a congressional committee on Tuesday, a subtle shift of emphasis that helps lay the groundwork for the Fed's first rate hike since 2006.
Caution gripped Asian markets on Tuesday as investors fretted over what Federal Reserve Chair Janet Yellen might say later in the day on the likely lift-off date for U.S. policy tightening.
U.S. home resales fell sharply to their lowest level in nine months in January amid a shortage of properties on the market, a setback that could temper expectations for an acceleration in housing activity this year.
Greece's struggles with its euro zone creditors may have grabbed much of the world's attention, but U.S. Federal Reserve Chair Janet Yellen is likely to reclaim the spotlight this week with testimony on a long-anticipated shift in policy.
After a holiday-shortened trading week that pinned stocks in a tight trading range, equities are poised for a bout of renewed volatility as investors watch the economy and the Federal Reserve for signs of policy changes and economic strength.
Verbal missteps by the U.S. Federal Reserve have increased the risk of a volatile market reaction when the time comes to raise interest rates, the outgoing president of the Philadelphia Fed said in an interview on Friday.
Federal Reserve Chair Janet Yellen will testify before the U.S. House Financial Services Committee on Feb. 25, a congressional aide said on Friday.
A U.S. Treasury official and a director at the New York Federal Reserve are among those who have been considered to replace two hawkish Fed policymakers, according to people familiar with the searches.
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.
Tumbling oil prices have strengthened rather than weakened the Federal Reserve's resolve to start raising interest rates around midyear even as volatile markets and a softening U.S. inflation outlook made investors push back the timing of the "liftoff."
The Federal Reserve should stop talking about the need for a "patient" interest rate policy just before it thinks it will begin hiking rates, a top Fed policymaker said on Monday.
U.S. job growth increased briskly in December, but wages posted their biggest decline in at least eight years in a sign the tightening labor market has yet to give much of a boost to workers.
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