US Federal Reserve Chair Janet Yellen tells conference slack remains in labour market following “the largest and most sustained loss of employment” since the Great Depression. Photograph: Reuters

US Federal Reserve chair Janet Yellen has said slack remains in the US labor market even after gains made during the five years of economic recovery. (...)

Janet Yellen, chair of the U.S. Federal Reserve, speaks during a Joint Economic Committee hearing in Washington yesterday. Photograph: Andrew Harrer/Bloomberg

The US housing market slowdown poses a fresh risk to growth in the world’s largest economy, Federal Reserve chairwoman Janet Yellen has warned in test(...)

The Federal Reserve Bank of Cleveland stands on in Cleveland, Ohio, US. The US Federal Reserve has said growth had accelerated in the US as it slowed asset purchases by another $10 billion. Photographer: Ron Antonelli/Bloomberg

The US Federal Reserve said last night that growth had accelerated in the world’s largest economy as it slowed asset purchases by another $10 billi(...)

The US Federal Reserve had few doubts about slowing its asset purchases in January, a clear sign that tapering will continue i(...)

A customer waits to deposit Indian 1000 rupee banknotes at a counter inside a bank  in Mumbai. India’s central bank has raised interest rates for the third time in six months, responding to sustained pressure on the rupee and accelerating inflation. Photographer: Dhiraj Singh/Bloomberg

Emerging market central banks have stepped up the fight against inflation and falling currencies, helping emerging market equities stage a nascent rec(...)

Ben Bernanke, soon to be ex-chairman of the US Federal Reserve, will surely be regarded as one of the Fed’s most significant chairmen. Photographer: Andrew Harrer/Bloomberg

In their patter song in The Pirates of Penzance, Gilbert and Sullivan satirised the notion of an educated “modern major-general”. Today they might sat(...)

For your diary

TODAYResults: HTC; Lacroix.Indicators: Irish purchasing manager index services (Dec); Euro zone Sentix investor confidence (Jan); Euro zone Markit ser(...)

Traders work the floor of the New York Stock Exchange. Photograph: John Moore/Getty Images

The decision by the US Federal Reserve to reduce the rate of its securities purchases by $10 billion a month is best dismissed as a taper in a teap(...)

US Federal Reserve Chairman Ben Bernanke (right) takes the stage to address the National Economists Club annual dinner at the US chamber of commerce in Washington. Photograph: Jonathan Ernst/Reuters

US Federal Reserve chairman Ben Bernanke said last night the Fed will maintain ultra-easy US monetary policy for as long as needed, which could mean h(...)

The rate-setting Federal Open Market Committee made no changes to policy at its October meeting, keeping its asset purchases steady at $85 billion a month, but the statement implied it did not see a lot of damage from the government shutdown earlier this month

The US Federal Reserve yesterday said the world’s largest economy was still expanding at a moderate pace, suggesting a slowing of asset purchases i(...)

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