国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

   

Fed officials see recession in all but name

(Agencies)
Updated: 2008-04-17 08:15

Yellen, who is not an FOMC voting member this year, said the slowing economy will serve as a brake on inflation over time, and looked for core prices to return to a 2 percent pace of annual increase over the next years.

Still, she said the Fed must be careful not to lower rates more than needed in the current easing cycle, saying, "Inflation is a problem."

Although core inflation has stabilized in the past two months, Yellen said price stability cannot be achieved unless headline price pressures, which include food and energy, subside as well.

"The Fed cares about total inflation," she said.

The headline consumer price index rose by 0.3 percent in March for a year-on-year advance of 4 percent, according to data released on Wednesday.

The Fed's focus on core inflation assumes that food and energy prices will not keep rising relentlessly, Yellen said.

Plosser termed crude oil prices, which traded above $115 per barrel for the first time on Wednesday, "extraordinarily high."

MISSION NOT YET ACCOMPLISHED

Speaking aboard the aircraft carrier USS Hornet, Yellen was far from declaring "mission accomplished" for the Fed's efforts to shield the economy from turmoil related to the collapse of the subprime mortgage market and decline in housing prices.

Still, she said the FOMC had taken "significant steps" since September in pushing the federal funds rate down to 2.25 percent from 5.25 percent, and that monetary and fiscal stimulus should boost the economy in the second half.

The FOMC meets on April 29-30 to consider its next move on interest rates.

Financial markets anticipate a one-quarter percentage point cut in the federal funds rate, to 2 percent. Earlier this month bets were divided between a one-quarter-point ease and a bolder, half-point cut.

Yellen told reporters that the shift in market expectations probably reflected the view that financial conditions have stabilized somewhat since the last FOMC meeting in March.

Mishkin told the Senate Small Business Committee the Fed is taking steps beyond movements in lending rates.

The Fed is "continually looking at steps to make the markets function better" and has been "quite creative in terms of the steps we've taken so far," he said.

 

   1 2   


Top World News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
瑞安市| 石首市| 永修县| 望奎县| 和平区| 崇信县| 丹江口市| 厦门市| 翼城县| 柞水县| 石门县| 七台河市| 印江| 象州县| 营口市| 禄丰县| 萍乡市| 囊谦县| 庆云县| 东乡族自治县| 达尔| 夏邑县| 乌鲁木齐市| 会理县| 乡宁县| 吉安市| 凯里市| 元氏县| 孟津县| 永德县| 曲周县| 合肥市| 江永县| 喀什市| 额尔古纳市| 广州市| 淳化县| 汽车| 浙江省| 东安县| 美姑县|