Welcome, Guest Login | Signup | Portfolio | Bookmark | Contact
Markets

Symbol Name
Click for Symbol Help




Yellen Says Commodity-Price Rise Doesn’t Warrant Fed Shift

BusinessWeek - Apr 11, 2011

Federal Reserve Vice Chairman Janet Yellen said the increase in food and fuel costs will have only a temporary impact on inflation and consumer spending and warrants no reversal of record monetary stimulus.

“The surge in commodity prices over the past year appears to be largely attributable to a combination of rising global demand and disruptions in global supply,” Yellen said today in a speech in New York. “These developments seem unlikely to have persistent effects on consumer inflation or to derail the economic recovery and hence do not, in my view, warrant any substantial shift in the stance of monetary policy.”

Yellen is the second top lieutenant of Chairman Ben S. Bernanke to suggest this month that the Fed will complete its $600 billion of bond purchases aimed at boosting growth. William C. Dudley, president of the Federal Reserve Bank of New York, said April 1 that the recovery is “still tenuous,” while Bernanke said April 4 that higher commodity prices may have a “transitory” effect on inflation.

Read Full Article from BusinessWeek

- Posted: 2011-04-11 12:04:14


 More Stock Investor Place Top Stories  
Anglo platinum arm sheds 14,000 jobs, risking unrest
Apple falls below $500
US retail sales rose 0.5 percent in December, led by autos, furniture and clothing sales
Recovery in U.S. Saving 8 Million Underwater Homeowners
Facebook shares rise in buildup to mystery event, earnings

 Stock Investor Place Top Stories Archive
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008















Featured Companies | My Place | News | Markets | Big Board | Blogs | Products & Services

Copyright 2024 Stock Investor Place Inc. All Rights Reserved.
Disclaimer - Terms of Use - Privacy Policy - Advertise