Old Normal Returns as PIMCO Sees ‘New Destination’ for U.S. Growth
PIMCO’s Bill Gross sees a good year ahead. The bond firm's new leaders say stagnation is not the new norm, and a passle of economists agree.
Fed Governor Stein Resigns to Return to Teaching at Harvard
Jeremy Stein is a known as a thought leader on the linkage between monetary policy and financial stability.
Yellen: Economy Will Need Fed’s Support for ‘Some Time’
Federal Reserve Chair Janet Yellen used a speech to a community development conference in Chicago to make the case for continued Fed stimulus.
Fed Changes Interest Rate Policy, Linking to Wider Data Range
The Fed gave itself room to keep interest rates low by dropping a linkage between the benchmark interest rate and a specific level of unemployment.
Fed Links Rate Outlook to Range of Data; Drops 6.5% Jobless Threshold
FOMC said ‘highly accommodative stance of monetary policy remains appropriate’ before its first meeting led by Janet Yellen.
Junk Bonds at $2 Trillion as Gundlach Pulls Back
“They’ve squeezed all the toothpaste out of the tube,” DoubleLine CEO Jeffrey Gundlach says.
Yellen Saw Economy at ‘Brink of Recession’ in January 2008
Janet Yellen saw the U.S. economy “at, if not beyond, the brink of recession” in January 2008, according to Fed transcripts released Friday.
Yellen: Steady Fed Policy Could Shift With ‘Notable’ Economic Change
Fed Chief Janet Yellen said that while she expects continuity in Fed policy, pausing or increasing bond purchases was not out of the question.
Russell Investments Chief Economist Dueker Found Dead
Mike Dueker, the chief economist at Russell Investments, was found dead at the side of a highway that leads to the Tacoma Narrows Bridge in Washington state, according to the police.
Surprising Jobless Rate Decline Runs Into Fed Rate Policy
The Fed said in 2012 that interest rates would remain near zero until unemployment fell to 6.5%—it’s now at 6.7%.