Economic News

WASHINGTON (Dow Jones) -- While Federal Reserve officials burnish their inflation-fighting credentials with blunt talk, there's growing concern that policy-makers might push the U.S. economy off the cliff by lifting interest rates too high. In their quixotic battle to slay inflation and keep prices stable, Fed officials may have forgotten the other half of their mission: To keep the economy gro ...

WASHINGTON (Dow Jones) -- Led by a big drop in orders for aircraft, U.S.-made durable goods fell 0.3% in May, the second decline in a row, the Commerce Department said Friday. Orders have been up and down for the past few months. "Underlying trends, however, remain solid," said Joshua Shapiro, chief economist for MFR. "The outlook for capital spending remains positive," said Bart Melek, an e ...

The dollar extended its prior session's gains, hitting two-month highs against the euro and yen Friday, amid growing market convictions that the Federal Reserve will keep lifting interest rates. Speculation that the Federal Reserve may deliver a 0.5-percentage-point interest rate increase at its policy meeting next week accelerated the dollar's rebound, analysts said. Meanwhile some economists' ...

Treasury prices closed with sharp losses Thursday, after the benchmark 10- year note's yield struck its highest level in more than 4 years, as traders positioned for a widely expected increase in the fed funds rate next week to the 5.25% level. An inline increase in jobless claims and a leading indicators report showing slower growth had limited market impact. That's because many investors assu ...

The dollar rallied Thursday, hitting a two-month high versus the yen and seven-week highs versus the British pound and Swiss franc, as traders flocked to the U.S. currency for safety on concerns over North Korea's nuclear ambitions and amid growing expectations the Federal Reserve will keep raising interest rates. The yen dropped sharply on rumors about a U.S. spy plane having crashed in North  ...

Mervyn King said that the BCCI (Bank of Credit and Commerce International) case, which ended in victory for the Bank this April, had revealed a Commercial Court system that was incapable of resolving disputes in a simple, clear and timely way.The lengthy legal battle triggered when liquidators Deloitte sued the Bank for misfeasance benefited only the lawyers involved, largely at the expense of BCC ...

This is Money22 June 2006 BANK of England policymaker David Walton has died unexpectedly after a short illness, the Bank said today. Mr Walton was a member of the Bank's Monetary Policy Committee (MPC) which sets UK interest rates every month. OTHER STORIES BA faces 'cartel' investigation Asda staff to strike for five days Market report: Thursday 14.30 Debt crisis for the over-60s B&B ...

SAN FRANCISCO (Dow Jones) -- When the interest rate used to calculate Boeing Co.'s pension obligations rises by 25 basis points, its obligation to retired workers' pensions falls by $1.37 billion. A drop of 25 basis points adds $1.57 billion to Boeing's obligations to its pensioners, according to the world's largest aerospace company's 2005 10-K annual Securities and Exchange Commission filing. ...

Treasury prices drifted lower early Thursday, pushing yields higher, as traders positioned for a widely expected increase in the fed funds rate next week to the 5.25% level. An increase in jobless claims that was broadly within economists' expectations had limited impact because many investors assume that the central bank is bent on lifting rates next week and this week's economic reports will  ...

By Sumeet Desai LONDON (Reuters) - Bank of England Monetary Policy Committee member David Walton, the sole UK policymaker to back higher interest rates for the past two months, has died unexpectedly, the central bank said on Thursday. The former Goldman Sachs economist died on Wednesday evening after a short illness, aged 43. Interest rate futures rose sharply and the pound fell as dealers gauged that Walton's death lowered the probability of an imminent interest rate increase. He had been th ...