Markets 'Working Well,' Says Fed Chief
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Federal Reserve Chairman Ben S. Bernanke told Congress yesterday that the markets were "working well" and the outlook for the U.S. economy was upbeat a day after Wall Street suffered its steepest decline in nearly four years.
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U.S. consumers are in good financial shape, a top Fed official said on Monday, dismissing fears that high levels of household debt are unsustainable.
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The US economy is resilient over time and growth is likely to remain in the 3-4 percent range, Minneapolis Federal Reserve President Gary Stern said on Friday.
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Federal Reserve Chairman Ben Bernanke said on Wednesday this week's sharp stock market drop had not changed the Fed's view that the U.S. economy was sound, remarks that helped shaken markets regain confidence.
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PALO ALTO, Calif.  - The U.S. economy is on track  for sustainable above-trend growth, and with monetary policy  still accommodative, interest rates will keep rising,  San  Francisco Federal Reserve Bank President Janet Yellen said on  Friday.
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Philadelphia Federal Reserve Bank President Charles Plosser said on Tuesday a central bank committed to keeping inflation low was good monetary policy and that keeping expectations intact helped policy-makers respond effectively to shocks.
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Federal Reserve Chairman Ben Bernanke told Congress so far the markets appear to be "working well," despite the biggest sell-off in stock prices in more than five years
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U.S. inflation remains well contained but the Federal Reserve is on high alert for signs of any pick-up in prices, top policy-makers said on Wednesday.
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U.S. inflation is under control right  now and the economy is unlikely to suffer from "cascading  weakness," St. Louis Federal Reserve Bank President William  Poole said on Tuesday.
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The U.S. economy should perform well  this year and in 2007 despite higher energy prices, the Federal  Reserve said in its 2005 report on Monday.
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Policy-makers assured nervous  investors on Friday that the United States was not heading into  recession and stock market losses did not warrant central bank  intervention.
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Ben S. Bernanke said the Federal Reserve was âprepared to act as neededâ to prevent market woes from spreading while the Dow closed up nearly 250 points as investors went bargain-hunting.
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Federal Reserve head Ben Bernanke expects the US economy to rebound, even as the housing slump continues.
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U.S. Treasury Secretary Henry Paulson on Sunday said he feels good about the U.S. economy and does not see the country slipping into recession.
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U.S. inflation remains well  contained but the Federal Reserve is on high alert for signs of  any pick-up in prices, top policy-makers said on Wednesday.
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Satisfied that the economy is back on track, the Federal Reserve is likely to increase interest rates today, and in December as well.
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Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that the administration and federal regulators are closely monitoring financial markets in the wake of the biggest sell-off in stock prices in more than five years but so far the markets appear to be "working well."