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More Rate Increases Expected by Fed
AP - The star actor may be about to depart, but his understudy at the Federal Reserve is expected to keep following the same script — gradually increasing interest rates to make sure inflation does not get out of control.
Fed move spurs dollar gains
FT.com - The dollar strengthened to a fresh two-year high against the yen, trading around Y116.90 by mid-morning during the European session after the Federal Reserve raised interest rates to 4 per cent, as widely expected.
Fed raises rates, will likely do it again
USATODAY.com - The Federal Reserve raised its target for short-term interest rates another quarter point to 4% Tuesday, confident that the economy is expanding but wary that costlier energy could fire up dangerous inflation.
Fed Expected to Keep Raising Rates
AP - The star actor may be about to depart, but his understudy at the Federal Reserve is expected to keep following the same script — gradually increasing interest rates to make sure inflation does not get out of control.
Greenspan's Parting Moves
BusinessWeek Online - In the third-to-last Federal Reserve policy meeting of the Greenspan era, the central bank did just what everyone expected on Nov. 1, hiking the benchmark Fed funds rate another quarter point to 4%. This marked the 12th consecutive rate hike in the current policy cycle -- from near historic low levels of 1%. This move, along with renewed unanimity among members of the Federal Open Market Committee, the Fed's policy-setting arm, and the language of the post-meeting statement, strongly suggests that the central bank will continue to take away past policy accommodation by raising rates into 2006.
Eurozone bond yields hit 15-month high
FT.com - US Treasury bonds were sharply lower on Wednesday as the market focused on today's testimony by Alan Greenspan, chairman of the Federal Reserve, and tomorrow's key monthly employment report.The Treasury department's announcement of $44bn of new supply next week also added to early mortgage-related selling, sending the yield on the 10-year note near a seven-month high. ...
Bernanke Runs Conservative Portfolio
Investor's Business Daily - Ben Bernanke, President Bush's nominee to succeed Alan Greenspan as chairman of the Federal Reserve, has most of his money split about 50-50 between stocks and fixed income, according to his latest disclosure forms.
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