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Fed officials dampen talk of imminent bond buying cutback

Two senior Federal Reserve officials on Tuesday played down the chances that the U.S. central bank would signal a readiness to reduce its bond buying at its meeting next month, dampening speculation the Fed's ultra-easy monetary policy might end soon.New York Federal Reserve Bank President William Dudley and St. Louis Fed chief James Bullard, both of whom will vote at the June 18-19 meeting, made clear further economic progress was needed before they would support curtailing bond purchases.Wall Street stocks rallied, with both the Dow Jones industrial average and Standard & Poor's 500 Index closing at new all-time highs after their remarks eased investor concerns that the Fed would reduce its stimulus of the economy."Inflation is pretty low in the U.S.," Bullard told reporters after delivering a lecture in Frankfurt. "I can't envision a good case to be made for tapering unless the inflation situation turns around and we are more confident than we are today that inflation is going to mo...

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  1. Fed officials dampen speculation of imminent bond tapering

    Two senior Federal Reserve officials on Tuesday played down chances that the U.S. central bank would signal a readiness to taper bond buying at its meeting next mont...

  2. Apple's Irish Tax Strategy Explained

    Tim Cook, Apple's chief executive, and Peter Oppenheimer, chief financial officer, are expected to testify before the U.S. Senate Permanent Subcommittee today to dis...

  3. Wholesale Inflation Cools in April as Energy Prices Drop

    U.S. producer prices recorded their largest drop in three years in April as gasoline and food costs tumbled, pointing to weak inflation pressures that should give th...

  4. Producer prices post biggest drop in three years

    Producer prices recorded their largest drop in three years in April as gasoline and food costs tumbled, pointing to weak inflation pressures that should give the Fed...

  5. The Psychology of Beating Unemployment

    The stress of not knowing what's next can be psychologically paralyzing, particularly when it comes to not having adequate funds to pay bills.The unpredictable state...

  6. Retail Sales Unexpectedly Make Small Gains

    Retail sales unexpectedly rose in April as households bought automobiles, building materials and a range of other goods, pointing to underlying strength in the econo...

  7. Retail sales edge up, show some strength in economy

    Retail sales unexpectedly rose in April as households bought automobiles, building materials and a range of other goods, pointing to underlying strength in the econo...

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