Fed to remain 'patient,' expects inflation to rise in 'medium term'
Wed, 28 Jan 2015 15:04:12 -0500
* The Fed acknowledged that inflation had declined further below its longer-run objective and that market-based inflation measures had fallen substantially - a more negative assessment of inflation pressures than in December. “On the bond market, the fact that they are kind of seeing some spillover of lower oil prices into measured inflation and inflation expectations shouldn’t be new news, but the market took it that way. People are buying (30 year Treasuries) on the lower inflation expectations although they were pretty upbeat on growth overall. “The Fed statement shows the tension within the Fed. Growth is doing well and the labor is improving, but inflation is very uncertain and that’s a concern for them.
Jordan prisoner swap on hold, fate of Japanese IS hostage unclear
Wed, 28 Jan 2015 15:03:31 -0500
By Suleiman Al-Khalidi AMMAN (Reuters) - Jordan said on Wednesday it had received no assurance that one of its pilots captured by Islamic State insurgents was safe and that it would go ahead with a proposed prisoner swap only if he was freed. The fate of air force pilot Muath al-Kasaesbeh was thought to be tied to that of Japanese hostage Kenji Goto, a veteran war reporter who is also being held by the insurgent group. A video was released on Tuesday purporting to show the Japanese national saying he had 24 hours to live unless Jordan released Sajida al-Rishawi, an Iraqi woman on death row for her role in a 2005 suicide bomb attack. Government spokesman Mohammad al-Momani said Jordan was ready to release al-Rishawi if Kasaesbeh was spared, but made clear that she was still being held until the pilot was freed.
Greek PM Tsipras freezes privatizations, markets tumble
Wed, 28 Jan 2015 15:01:02 -0500
By Lefteris Papadimas and Renee Maltezou ATHENS (Reuters) - Leftwing Greek Prime Minister Alexis Tsipras threw down an open challenge to international creditors on Wednesday by halting privatization plans agreed under the country's bailout deal, prompting a third day of heavy losses on financial markets. A swift series of announcements signaled the newly installed government would stand by its anti-austerity pledges, setting it on course for a clash with European partners, led by Germany, which has said it will not renegotiate the aid package needed to help Greece pay its debts. Tsipras, who was congratulated by U.S. President Barack Obama in a phone call for his decisive election victory on Sunday, told the first meeting of his cabinet members that they could not afford to disappoint voters. After announcing a halt to the privatization of the port of Piraeus on Tuesday, for which China's Cosco Group [COSCO.UL] and four others had been short-listed, the government indicated it would put the whole program on hold.
Yahoo's new path murky after Alibaba split
Wed, 28 Jan 2015 14:59:19 -0500
It's do-or-die time for Yahoo and Marissa Mayer. After cutting the cord with China's Alibaba, the high-profile Yahoo chief executive faces more pressure than ever to reinvent the fading Internet star. This week's tax-free spinoff of Yahoo's $40 billion Alibaba stake leaves the California tech group with a core of assets but no clear path or mission, analysts say. Roger Kay of Endpoint Technologies Associates said the move allows Yahoo to "unlock the value" from its stake in the Chinese firm but fails to answer questions about Yahoo's future.
Fed to extend reverse repo tests through end of Q1
Wed, 28 Jan 2015 14:58:07 -0500
The U.S. Federal Reserve will extend its testing of the term reverse repurchase program, a new tool it hopes will help control short-term interest rates when the time comes to tighten monetary policy. The New York Fed said it would conduct a series of so-called term RRP operations from mid-February to early March, and an additional series of tests that span the period at the end of the first quarter, which is a critical time for short-term borrowing on Wall Street. It begins with a Feb. 12 operation worth about $10 billion, and will use Treasury collateral maturing no later than March 12, the New York Fed said.
Bill Gross on CNBC says Fed will raise rates by 0.25 percent in symbolic move
Wed, 28 Jan 2015 14:53:47 -0500
"I think the Fed will raise rates by 25 basis points sometime this year," Gross said about the Fed on Wednesday following its first policy-setting meeting of the year repeating that it will remain "patient" in deciding when to raise interest rates. The Fed acknowledged that inflation had declined further below its longer-run objective and that market-based inflation measures had fallen substantially - a more negative assessment of inflation pressures than in December.
Authorities say fugitive paid cash for long-term hotel stay
Wed, 28 Jan 2015 14:53:38 -0500
Authorities say a treasure hunter locked in a legal battle over one of the greatest undersea hauls in American history was paying cash for the Florida hotel room where he and a companion lived for more than a year.
Fed stays 'patient' on rate hike; notes ultra-low inflation
Wed, 28 Jan 2015 14:52:52 -0500
WASHINGTON (AP) — The Federal Reserve reiterated Wednesday that it will be "patient" in raising rates from record lows but noted that inflation remains below its target even as the U.S. economy improved.
US stocks mixed after Fed statement
Wed, 28 Jan 2015 14:49:54 -0500
U.S. stocks edged mostly lower in afternoon trading Wednesday following the Federal Reserve's latest policy announcement. The central bank reiterated that it will be patient in raising rates from record lows, but it also voiced new concerns about low inflation.
Supreme Court halts 3 upcoming executions in Oklahoma
Wed, 28 Jan 2015 14:48:29 -0500
WASHINGTON (AP) — The Supreme Court has ordered Oklahoma to postpone lethal injections executions using a controversial sedative until the court rules in a challenge involving the drug.
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