Still Weak Job Market Calls for Fed Patience, Rosengren Says
Dow Jones Business News
(04/15/14) Michael S. Derby
Boston Federal Reserve Bank President Eric Rosengren says continuing labor market weakness and uncertainty about how weather has been affecting economic data indicate the U.S. Federal Reserve should exercise patience and continue to provide aggressive economic stimulus. “It is vitally important that labor markets continue to improve,” he says, adding that “monetary policy should continue to be accommodative, supporting a return to full employment, given the very low inflation rates.” His remarks are from the text of a speech he is scheduled to give today in Boston.
Although the Fed is expected to begin considering interest rate increases when unemployment reaches 6.5%, Rosengren favors a 5.25% threshold for the jobless rate, which could be reached in mid-2016 if unemployment continues to decline at its current pace.
Industrial Production in U.S. Increases More Than Forecast
(04/16/14) Shobhana Chandra
Industrial production increased more than forecast in March following a February increase that was twice as big as previously estimated, indicating that manufacturers have bounced back from the effects of adverse winter weather. Industrial output rose 0.7% after a revised 1.2% increase in February, according to the U.S. Federal Reserve. The 79 economists surveyed by Bloomberg had forecast a 0.5% increase. Manufacturing, which comprises 75.0% of total production, grew 0.5% after surging 1.4% in February.
Freelancer.com Acquires Warrior Forum
Freelancer.com has acquired Warrior Forum, an internet marketing marketplace and community for internet marketing professionals.
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