Economy News
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Global Economy: Surprise tactics sweep central banking
LONDON - After slashing interest rates to almost nothing and printing trillions of dollars, central banks are becoming increasingly reliant on another policy weapon: sucker punching markets.
Yellen to prevail over Fed critics at Senate hearing
WASHINGTON - Janet Yellen will be forced to defend the Federal Reserve's ultra-easy monetary policy when she faces senators later this week, but critics have little hope of sinking her nomination to become the first woman to ever lead the U.S. central bank.
Bernanke, other policymakers point to weakness in labor market
OXFORD, Miss./LOS ANGELES - Despite signs of improvement in the U.S. labor market, there is plenty of room for the jobless rate to fall further, Federal Reserve Chairman Ben Bernanke and two other top policymakers said on Friday, in comments that suggested continued support for the U.S. central bank's massive stimulus program.
Fed's Williams: want to be sure of momentum before cutting QE3
- The Federal Reserve will be looking at data in coming months and into next year to gauge whether the recovery is strong enough to begin withdrawing its massive bond-buying stimulus, a top Fed official said on Friday.
Lockhart says Fed still far from inflation and jobs goals
OXFORD, Mississippi - The Federal Reserve is still far from its inflation and employment goals, Atlanta Fed President Dennis Lockhart said on Friday, although he would not rule out potentially cutting back stimulus in December.
Bankruptcy was unavoidable, Detroit lawyer tells court
DETROIT - Detroit on Friday wrapped up its effort to prove that it is eligible for the largest municipal bankruptcy in U.S. history, clashing with unions, retirees and pension funds over whether good faith negotiations were feasible before the city filed for court protection on July 18.
U.S. consumer sentiment unexpectedly falls in November
NEW YORK - U.S. consumer sentiment unexpectedly dipped in November to a near two-year low as lower-income households worried about their job prospects and financial outlooks and negative views of the government lingered, a survey released on Friday showed.
Factbox: Yellen policy positions to face Senate scrutiny
- Federal Reserve Vice Chair Janet Yellen's long career as a policymaker and economist will be under scrutiny next Thursday as the U.S. Senate Banking Committee vets her nomination to replace Fed Chairman Ben Bernanke, whose term expires on January 31.
U.S. consumer spending tepid as households boost savings
WASHINGTON - U.S. consumer spending increased modestly in September as households boosted their savings and inflation remained benign, pointing to sluggish domestic demand.
U.S. economic growth gauge dips, annual rate rises: ECRI
NEW YORK - A measure of future U.S. economic growth slipped to a three-week low while the annualized growth rate rebounded slightly from a recent 14-month low, a research group said on Friday.
Markets
- U.S.
- Europe
- Asia
- Sectors
| DOW | 15,783.10 |  +21.32 |
+0.14% |
| S&P; 500 | 1,771.89 | +1.28 |
+0.07% |
| NASDAQ | 3,919.79 | +0.56 |
+0.01% |
| TR US Index | 161.45 | +0.11 |
+0.07% |
-175.19Sector Summary
| Energy | +0.23% |
| Basic Materials | +0.33% |
| Industrials | +0.22% |
| Cyclical Goods & Services | +0.34% |
| Non-Cyclical Goods & Services | +0.05% |
| Financials | +0.31% |
| Healthcare | +0.32% |
| Technology | +0.29% |
| Telecoms | +0.10% |
| Utilities | +0.14% |
United on banking union?
German coalition agreement on banking union.
China to unveil 10-year reform plan, expectations toned down
BEIJING, Nov 12 - China's leaders will unveil a reform agenda for the next decade on Tuesday, seeking to balance the need to overhaul the world's second-largest economy as it loses steam with preserving stability and to reinforce the Communist Party's power.
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