Kansas City Federal Reserve President Thomas Hoenig broke ranks with some of his fellow regional Federal Reserve executives Tuesday, warning against further monetary action as a way to spur economic activity.
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The Bank of England left interest rates at 0.5% for the 20th month in a row and maintained its asset-buying program unchanged, Reuters reported.
The interest rate decision was widely expected by economists. Still, mixed economic data and a divided policy-making board mean that the future is uncertain for the asset-buying program.
The U.K economy posted growth of 1.2% in the second…
Continue reading Bank of England Leaves Interest Rates, Asset Buying Unchanged
Bank of England Leaves Interest Rates, Asset Buying Unchanged originally appeared on DailyFinance on Thu, 07 Oct 2010 07:45:00.
Federal Reserve Bank of Chicago President Charles Evans proposed further monetary action on the part of the Federal Reserve, including purchasing more Treasury bonds to cut the cost of borrowing, while lowering his forecast for…
With elections near and joblessness still so high, Congress and even the Fed are chasing short-term solutions that won’t really help matters. More finely targeted policies would be effective, but don’t expect any until, with lu…
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