Topic: William Dudley
Stocks closed down on Wall Street on concerns about the economy Monday. A looming budget fight in Washington also weighed down stocks.
Stocks moved higher on Wall Street Thursday, bolstered by good news on jobs and consumer spending. Stocks have rallied since Tuesday as investors took advantage of lower prices after a sell-off that lasted till Monday.
Congress must sort out a raft of fiscal issues before Jan. 1, or it will cost the US economy dearly, said New York Federal Reserve President William Dudley.
Interest rates were supposed to be kept low by the Federal Reserve's bond-buying program. Ben Bernanke will meet with the press on Wednesday, and investors will listen for clues about when the Fed might change its policy with interest rates.
04/27/2011 10:01 am
At 8.9 percent, unemployment is still high. But in some industries, jobs are available with no skilled workers to fill them.
03/04/2011 12:07 pm
The Federal Reserve is expected to approve a program of quantitative easing at a meeting next week. Experts on monetary policy are divided over whether the plan will work buoy the economy.
10/27/2010 06:11 pm