Economic News

WASHINGTON (Dow Jones) -- Wall Street economists will not be content to just listen to Fed chief Ben Bernanke's testimony to Congress this week, they will also check his homework. Economists believe there will be clues about Fed thinking in the subtle shifts in the Fed's semi-annual economic forecasts that Bernanke must provide lawmakers on Wednesday, especially the Fed's forecast for the infla ...

Industrial production in the US rose strongly in June, a sign that the Federal Reserve has scope to continue to raise interest rates. The Fed itself reported on Monday that output at US factories, mines and utility firms jumped 0.8% in June, a big improvement on May's 0.1% figure. Driven by strong gains in the car and auto parts sector, the rise was higher than market forecasts of a 0.4% jump. The Fed said last month that additional interest rate rises might be necessary. As it aims to cool  ...

Simon Lambert, This is Money17 July 2006 THE cost of the average house will be almost £300,000 in five years' time, according to a new report, which claims the rise will spell disaster for first-time buyers. SOARING PRICES: The average home will set buyers back £300,000 by 2011 according to a new report WANT TO KNOW MORE? REPORT: New surge in house prices FEATURE: How much is your house worth? DEAL FINDER: Find the best mortgage deal OTHER STORIES New surge ...

WASHINGTON (Dow Jones) - In the words of Ricky Nelson, it will be impossible for Fed chief Ben Bernanke to please everyone when he testifies to Congress on the economy and Fed policy next week. Half of Wall Street is convinced that the U.S. economy is cooling off rapidly and the Fed should move to the sidelines after 17 straight rate hikes that has taken the Fed's target rate to 5.25%. The o ...