Powered By

Breaking News

Dudley says the main focus is the labor market

Publish Date29/11/2012 05:09:23 PM

Last Update29/11/2012 05:20:02 PM

William C. Dudley, President of the Federal Reserve Bank of New York and Vice Chairman of the Federal Open Market Committee (FOMC), said today that the joblessness rate in the U.S is highly unacceptable and considered the possibility of increasing the Fed’s asset purchase program, and said that his main focus is the Labor market outlook.

“The Fed will promote maximum employment and price stability to the greatest extents our tools permit, and we will stay on course”, said in New York today.

According to the minutes of the FOMC October meeting, Federal Reserve officials said that they might need to expand their monthly purchases of bonds, and are now considering to extend Operation Twist, the program swapping short-term treasuries with longer-term debt.

Dudley said he will “focus on the labor market outlook, not just its current state” to determine whether to add to the Fed’s stimulus, and that discourage workers have ““depressed the participation rate and held down the official unemployment rate”.

He commented also about the expansion of the U.S economy, and that it must grow faster if they were to put the jobless workers and idle businesses back to work.




Member Account Required
You must be registered as a member of the forums and logged into your account to post messages. If you do not have a member account, please Sign In or Register.
United States
Asia Pacific
Economic Calendar
Holiday Calendar
ECB Calendar
Feds Calendar
BoE Calendar
Boj Calendar
Top News
FX Updates
Market News
Global Highlights
Political News
Around the World
At A Glance & Video Commentaries
Market Pulse
Press Releases
About Us
Contact Us
Privacy Policy
Terms of Services

Risk Disclaimer : All information on this page is subject to change. The use of this website constitutes acceptance of our Privacy Policy and Terms of Service. Please read our Privacy Policy, Risk Disclaimer, Terms of Services and all legal disclaimers. Please note that Forex trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone.

Opinions expressed at ICN.com are those of the individual authors and do not necessarily represent the opinion of ICN.com or its management, shareholders, affiliates and subsidiaries. ICN.com has not verified the accuracy of any claim or statement made by any independent writer and is reserved as their own and ICN.com is not accountable for their input. Any opinions, news, research, analysis, prices or other information contained on this website, by ICN.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. ICN.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The data contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market prices, meaning prices are indicative and not appropriate for trading purposes. ICN.com does not bear any responsibility for any trading losses you might incur as a result of using this data.