Policy makers worried that rising energy costs would boost core consumer prices
Incoming chairman pledges continuity with Greenspan’s policies
Economy has forward momentum
U.S. economy to get a boost from rebuilding in hurricane-affected areas
Bernanke a strong proponent of inflation targeting
Greenspan to step down in January
Many parts of the United States showed decent economic activity in September and early October according to the Federal Reserve’s “beige book” report.The survey released today provided the latest snapshot of business conditions nationwide in the aftermath of Katrina, the most costly natural disaster in U.S. history, and Rita.“Economic activity continued to expand … Most […]
Central bank rejected pause partly out of concern it would mislead financial markets
Changing of the guard brings uncertainty