Federal Reserve Latest News: 2 Fed Officials Seek to Calm Financial Markets

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Federal Reserve Latest News: 2 Fed Officials Seek to Calm Financial Markets

by Wochit 0:54 mins

Federal Reserve Latest News: 2 Fed Officials Seek to Calm Financial Markets

by Wochit 0:54 mins

Federal Reserve officials are seeking to calm investors by assuring them the Fed won't start trimming its bond purchases until the economy has strengthened. They say any pullback in the Fed's stimulus will hinge on the economy's performance, not a calendar date. William Dudley, the influential head of the New York Fed said that The Federal Reserve's asset purchases would be more aggressive than the timeline Chairman Ben Bernanke outlined last week if economic growth and the labor market turn out weaker than expected. U.S. stock futures rose ahead of the release of data on consumer spending and claims for unemployment benefits, and as investors hoped for more market-friendly comments from Federal Reserve officials.

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