Yellen: Expect Fed to gradually hike rates over next 3 years
WASHINGTON (AP) ? Federal Reserve Chair Janet Yellen says she expects the Fed to raise its benchmark interest rate several times a year through 2019, as it moves closer toward to its economic goals of maximum employment and stable inflation.
Actor dishing up laughs, not roast beef, on new NBC showPASADENA, Calif. (AP) ? Nick D'Agosto was truly working for the man before he found success on the small screen.
Exiting rail safety chief looks to technology to save lives
PHILADELPHIA (AP) ? Sarah Feinberg was on the job as the nation's chief railroad regulator for just three weeks when a packed commuter train slammed into an SUV stopped on tracks north of New York City, killing six people.
Washington tries to fix paid leave law dormant since 2007
A decade ago, Washington state created a paid family leave program that required many employers to offer five weeks of paid time off for new parents. But the law that once offered hope to working parents ...
CIA publishes new guidelines for handling Americans' infoWASHINGTON (AP) ? The CIA is updating its policies on how it stores, searches and shares information on Americans.
States argue in court for more say over endangered species
DENVER (AP) ? The federal government asked an appeals court Wednesday to overturn an order that bars the release of endangered wolves in New Mexico without the state's permission, a skirmish in a broader battle over states' rights and the Endangered Species Act.
Stocks, U.S. dollar, bond yields rise after Yellen comments
By Sinead Carew NEW YORK (Reuters) - The U.S. dollar rose and stocks also gained ground on Wednesday after Federal Reserve Chair Janet Yellen suggested the U.S. central bank was ready to raise interest rates quickly this year. U.S. Treasury yields rose too after Yellen said "waiting too long to begin moving toward the neutral rate could risk a nasty surprise down the road - either too much inflation, financial instability, or both." Oil futures tumbled, however, dragging down the energy sector index , which was one of the biggest weights on the S&P 500. Yellen's comments were not seen as a departure from the Fed's previous tone but they highlighted strong U.S. fundamentals which support a strong dollar, high yields and stocks.
Obama to Trump: Keep Russia sanctions separate from nuclear talks
By Roberta Rampton and Jeff Mason WASHINGTON (Reuters) - President Barack Obama urged President-elect Donald Trump on Wednesday to keep separate the issue of economic sanctions on Russia from the pursuit of talks to reduce nuclear stockpiles. Trump, who takes office on Friday after winning the Nov. 8 election, said in an interview with the Times of London published on Monday that he would propose offering to end sanctions on Moscow in return for a nuclear arms reduction deal. Obama's administration imposed the sanctions in 2014 after Russia's annexation of the Crimea peninsula from Ukraine.
Fed's Yellen says 'makes sense' to gradually raise interest rates
By Ann Saphir SAN FRANCISCO (Reuters) - With the U.S. economy close to full employment and inflation headed toward the Federal Reserve's 2 percent goal, it "makes sense" for the U.S. central bank to gradually lift interest rates, Fed Chair Janet Yellen said on Wednesday. "Waiting too long to begin moving toward the neutral rate could risk a nasty surprise down the road - either too much inflation, financial instability, or both," Yellen told the Commonwealth Club of California in San Francisco. "In that scenario, we could be forced to raise interest rates rapidly, which in turn could push the economy into a new recession." The Fed raised short-term rates last month for only the second time since the 2007-2009 financial crisis, when it slashed rates to near zero and began buying massive amounts of Treasuries and mortgage-backed securities to push down long-term borrowing costs.
Fed's Yellen expects drag of stronger dollar on U.S. exports to continueSAN FRANCISCO (Reuters) - Federal Reserve Chair Janet Yellen said on Wednesday that she expects the stronger dollar, whose rise in part is fueled by expectations the Fed will gradually raise interest rates, to continue to drag on U.S. exports. In response to questions from the audience at a Commonwealth Club of California event in San Francisco, Yellen also said that while the rise in equities also can be partly attributed to expectations of future Fed rate hikes, investors should take uncertainty into account, given that unexpected big rate hikes or cuts could affect stock valuations. ...