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Fed chairman's testimony shows Biden's economic plan working: White House

Reuters
Posted at Jun 23 09:15 AM

Congressional testimony from Federal Reserve Board Chairman Jerome Powell on Tuesday shows that President Joe Biden's economic plan is working, a White House official said. Read more »

Peso, baht plumb multi-month lows to lead Asian forex falls

Harish Sridharan, Reuters
Posted at Jun 21 05:27 PM

The Thai baht plumbed a more than eight-month low on Monday, the Philippine peso dropped to 2-1/2-month troughs and stock markets across Asia fell as broad-based dollar strength took a toll across emerging markets. Read more »

BSP says small enterprises benefitted from cheap loans but lending still weak

ABS-CBN News
Posted at Jun 17 05:06 PM

Micro, small and medium enterprises have benefitted from low interest rates as the Bangko Sentral ng Pilipinas ensured that there is ample liquidity in the market, a central bank official said Thursday.  Read more »

Fed expected to signal start of monetary policy shift debate

Howard Schneider, Reuters
Posted at Jun 16 03:00 PM

Federal Reserve officials on Wednesday are expected to at least flag the pending start of talks about when and how to exit from the crisis-era policies the US central bank put in place at the onset of the coronavirus pandemic last year. Read more »

As Fed taper looms, global central banks eye their own exits from stimulus

Leika Kihara, Mfuneko Toyana and Karin Strohecker, Reuters
Posted at Jun 10 01:08 PM

The more vulnerable emerging market central banks, such as Brazil, Ghana and Armenia, have already started their tightening cycle on rising inflation pressures.  Read more »

Philippines 'ready' if US increases interest rates: central bank

ABS-CBN News
Posted at Jun 08 10:41 AM

The Philippines is ready should the United States increase its interest rates, the central bank said Tuesday. Read more »

Bangko Sentral ng Pilipinas ready for any US Fed policy adjustment: Diokno

ABS-CBN News
Posted at Jun 03 06:02 PM

The Philippines is ready for any kind of monetary policy adjustment by the US Federal Reserve, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Thursday. Read more »

The great exit: central banks line up to taper emergency stimulus

Reuters
Posted at May 07 03:11 PM

The Bank of England's decision on Thursday to slow the pace of its bond-buying makes it the second central bank from a G7 economy to begin the slow exit from pandemic-era money-printing stimulus schemes. Read more »

Oil hovers near 13-month highs as storm hits US output, Fed assures rates staying low

Julia Payne, Reuters
Posted at Feb 25 07:32 PM

Oil prices extended gains for a fourth session on Thursday to reach the highest levels in more than 13 months, underpinned by an assurance that US interest rates will stay low, and a sharp drop in US crude output last week due to the storm in Texas. Read more »

GameStop saga may provide early test of Biden administration ethics pledges

Trevor Hunnicutt and David Lawder, Reuters
Posted at Feb 02 09:41 AM

Arguably the last thing new US Treasury Secretary Janet Yellen wants to take up during her first days in office is a financial market imbroglio involving one of her last private sector business relationships. Read more »

Asian shares under pressure on rising coronavirus cases

Swati Pandey, Reuters
Posted at Jan 25 09:48 AM

Asian shares were on the defensive on Monday as rising COVID-19 cases and doubts over the ability of vaccine makers to supply the promised doses on time soured risk appetite. Read more »

Mnuchin pulls plug on some pandemic lending programs that Fed considers essential

Howard Schneider and Ann Saphir, Reuters
Posted at Nov 20 09:41 AM

U.S. Treasury Secretary Steven Mnuchin said on Thursday that key pandemic lending programs at the Federal Reserve would expire on Dec. 31, putting the outgoing Trump administration at odds with the central bank and potentially adding stress to the economy as President-elect Joe Biden organizes his administration.  Read more »

Fed's Powell signals emergency credit programs should be extended

Howard Schneider and Ann Saphir, Reuters
Posted at Nov 18 09:04 AM

Federal Reserve Chair Jerome Powell said on Tuesday it was not time to shut down emergency programs aimed at battling the economic fallout from the coronavirus pandemic, with cases again surging and the economy left with "a long way to go" to recover. Read more »

White House sees Senate 'yes' for Fed pick Shelton

Reuters
Posted at Nov 17 08:35 AM

Outgoing President Donald Trump’s controversial pick for the U.S. Federal Reserve, his former economic adviser Judy Shelton, drew opposition from a third Republican senator even as the White House said it still expected the Senate to confirm her. Read more »

Fed keeps policy steady as Biden inches closer to victory

Howard Schneider, Ann Saphir and Jonnelle Marte, Reuters
Posted at Nov 06 08:32 AM

The Federal Reserve kept its loose monetary policy intact on Thursday and pledged again to do whatever it can in coming months to sustain a U.S. economic recovery losing speed amid a spreading coronavirus pandemic and facing uncertainty over a still-undecided presidential election.  Read more »

Bottle-fed babies ingest 'millions' of microplastics: study

Amélie Bottollier-Depois, Agence France-Presse
Posted at Oct 20 11:47 AM

Bottle-fed babies may ingest more than a million pieces of microplastics each day, new research showed Monday highlighting the abundance of plastics in our food products. Read more »

Split on applying new framework, Fed struggles over economic outlook as well

Howard Schneider and Ann Saphir, Reuters
Posted at Oct 08 09:24 AM

U.S. Federal Reserve policymakers split over how to apply a new strategy for monetary policy at their September meeting, and, amid growing doubts about the path of the economy, offered no clear sense of their next steps to offset the coronavirus recession. Read more »

Fed's appetite for further easing, higher inflation in focus

Ann Saphir, Reuters
Posted at Oct 07 02:26 PM

The U.S. Federal Reserve last month signaled that interest rates are likely to stay at zero through 2023, vowing to wait on rate hikes until inflation reaches 2 percent and is set to rise moderately above that level for a time. Read more »

US economy to recover only when people feel 'safe' from virus: Powell

Agence France-Presse
Updated as of Sep 22 08:39 AM

The US economy will only recover from the coronavirus downturn when people feel safe to resume their normal activities, Federal Reserve Chair Jerome Powell said in remarks released Monday ahead of congressional testimony. Read more »

US Fed says outlook uncertain, stimulus 'essential'

Heather Scott, Agence France-Presse
Posted at Sep 17 09:02 AM

The Federal Reserve pledged Wednesday to keep boosting the US economy with low rates to help recover the tens of millions of jobs lost in the pandemic, but said additional help from the government will be key.   Read more »