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By Reuters Staff 2 Min Read FILE PHOTO: Chairman of the Federal Reserve Jerome Powell listens during a Senate Banking Committee hearing on The Quarterly CARES Act Report to Congress on Capitol Hill in Washington, U.S., December 1, 2020. Susan Walsh/Pool via REUTERS/File Photo WASHINGTON (Reuters) - The Federal Reserve will reduce its monthly bond purchases before it commits to an interest rate increase, Fed Chair Jerome Powell said on Wednesday, clarifying the order of monetary policy changes that are still months if not years in the future. The Fed is currently buying $120 billion a month in government-issued and government-backed securities, and has pledged to continue doing that until the economy is more fully recovered. ....
Monday, 4/12/2021 14:32 GOLD PRICES edged lower and bond prices fell on Monday, as did global stock markets, keeping longer-term interest rates firm after US Fed chief Jerome Powell unnerved investors with comments on short-term US interest rates ahead of this week s huge auctions of new Treasury debt, writes Atsuko Whitehouse at BullionVault.
Formal statements from the US central bank have repeatedly said it doesn t expect to raise overnight rates from zero until 2024 at the earliest.
But asked about the recent rise in bond market rates, I think it s highly unlikely we would raise rates this year, Federal Reserve chairman Powell told ....
Oil prices rose early on Monday, with WTI Crude topping $60 a barrel for the first time in a week after the Fed chair Jerome Powell said that the outlook on the U.S. economy had "brightened substantially." ....
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