WASHINGTON, Dec. 2, 2010 /PRNewswire/ -- In remarks Thursday at a meeting of the National Economists Club, St. Louis Fed President James Bullard discussed his perspective on the recent Federal Open Market Committee policy decision to pursue additional quantitative easing. In his presentation, "The U.S. Economic Situation and Recent Monetary Policy Developments," Bullard also addressed some of the risks and criticisms of the FOMC policy decision. Bullard said that while this policy carries both risks and rewards, he believes the benefits outweigh the risks.
In Norway, the key rate has been kept unchanged at 1.75% since March 2004. Forward rates for the year ahead have edged down, which indicates expectations of a rise in the key rate to 2% in summer 2005 and to 214% at the end of 2005. Forward rates indicate that market participants expect interest rates in Norway to be lower than an average for its trading partners up to autumn 2005. Long-term interest rates in Norway have declined as a result of the fall in long-term interest rates internationally. Since mid-February 2005 the krone exchange rate has appreciated by about 5%, as measured by the import-weighted index 1-44. After a moderate downturn in the first half of 2003, growth in the Norwegian economy has picked up markedly. The economic upturn is broad-based. At the beginning of the r...
Global GDP growth in 2004 was the highest for more than 30 years, but high oil prices have led to somewhat slower growth in 2005. In the euro area, there are still few signs of higher growth in domestic demand. Inflation key rates in the US and Canada have been raised by 0.75 and 0.50 percentage point respectively. In Norway, the key rata was increased by 0.25 percentage point to 2.0% at the monetary policy. Growth in the Norwegian economy has been strong since the 2003 Q2. Since the recovery started, quarter-on-quarter mainland GDP growth has averaged 3 1/2% annualized. Inflation has edged up since the beginning of 2004. The operational objective of monetary policy is low and stable inflation, with annual consumer price inflation of approximately 2.5% over time. The rise in price for d...
Leaders of the world's 20 most prosperous countries, and the advisers, security and protesters who follow them, will meet in Pittsburgh for two days in September to assess the global economic situation. More than 1,100 world leaders and their entourages, including President Obama and first lady Michelle Obama, are expected to attend the Group of 20 summit. About 2,000 journalists are expected, the White House told local officials.
From Staff Reports WOOSTER -- In Wayne County's construction sector, business owners say the economic downturn affects their business uniquely. Battling time or perception or riding good fortune, company leaders spoke about the factors surrounding their current condition and their future.
The economic maelstrom that has pummeled the US has left almost no industry unscathed. For NACM-National Chairman David Beckel, CCE, manager of sales service and credit for MiTek Industries Inc, today's calamity is an opportunity for credit managers to prove their worth. Beckel has been a leader at MiTek for more than 17 years and has been involved in the credit industry since working part-time with Dun & Bradstreet (D&B) while he was in college. He stated that over the next year, NACM is going to be focusing on ensuring the value of membership; making sure that the association is properly focused on the members and their needs. After his years as a member, an affiliate chairman and as a member of the Board of Directors, he understands that today's economic situation translates ...
NASHVILLE, Tenn., May 12 /PRNewswire/ -- In remarks today at the Tennessee Department of Financial Institutions' "A Day with the Commissioner," St. Louis Fed President James Bullard discussed the U.S. economic situation and provided an overview of the Tennessee economy. He also repeated his call for regulatory reform that enhances the Fed's regulatory authority and maintains its ability to remain at arm's length from politics. The State of the U.S. Economy
NEW YORK - In Illinois' Cook County, women in poor neighborhoods no longer have access to free mammograms from two mobile vans testing for breast cancer. In Michigan, hikers will find about 20 campgrounds closed, and scientists are ending their studies of fish populations in the Great Lakes.
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