The case for further quantitative easing "goes away" as the U.S. economy improves, Philadelphia Federal Reserve chief Charles Plosser told CNBC Wednesday.
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Fed Chairman Ben Bernanke told Congress that despite some good news on the job front, the recovery has been "uneven and modest."
Originally from WSJ.com: Economy
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Wednesday offered a tempered view of the U.S. economy, pouring cold water on the notion that recent upbeat signs herald a stronger recovery.
Originally from Reuters: Business News
U.S. stock indexes trim healthy monthly gains after Federal Reserve Chairman Ben Bernanke curbs expectations of additional quantitative easing.
Originally from MarketWatch
WASHINGTON (MarketWatch) - The Federal Reserve's statement that it plans to hold rates steady until late 2014 if economic conditions evolve as expected doesn't mean very much, said Charles Plosser, the president of the Philadelphia Federal Reserve Bank. "At the end of the day, we will change policy when the economy tells us to change policy," Plosser said in an interview on CNBC. Plosser said the economy is doing a lot better than it was last summer. The Fed may have to change course "sooner than a lot of people expect," and will be sooner than 2014, barring a catastrophe. "Right now, I see the economy that is going to be gradually firming," he said. "If the performance on employment and the economy continue to improve as we've seen them over the last six months, if they proceed for another six months, I think that would be pretty good cause for thinking maybe we need to ease off on the gas pedal a little bit," Plosser said.
Originally from MarketWatch
Fed Chairman Ben Bernanke told Congress that despite some good news on the job front, the recovery has been "uneven and modest."
Originally from WSJ.com: Economy
NEW YORK (Reuters) - Stocks slipped on Wednesday, snapping a four-day winning streak after comments from U.S. Federal Reserve Chairman Ben Bernanke disappointed investors hoping for a strong signal of more stimulus.
Originally from Reuters: Business News
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Wednesday offered a tempered view of the U.S. economy, pouring cold water on the notion that recent upbeat signs herald a stronger recovery.
Originally from Reuters: Business News
Crude-oil futures finish higher, fighting off losses that had followed a higher-than-expected increase in supplies and comments from U.S. Federal Reserve Chairman Ben Bernanke.
Originally from MarketWatch
Sector fluctuates but finishes lower on the day as Fed chairman does not indicate another round of quantitative easing, and the central bank indicates real estate and banking improvements.
Originally from MarketWatch
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