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Fed Chief Dims Hopes for a Rate Cut
Summary from multiple countries, from articles in English
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NEW YORK Wall Street skidded lower Tuesday after comments from Federal Reserve Chairman Ben Bernanke and a strong reading on the service sector suggested the central bank has little reason to lower interest rates. (article 4)
Bernanke's speech by satellite to an international monetary conference in South Africa Tuesday spurred investors to sell a day after the Dow Jones industrials and Standard & Poor's 500 index edged up to new highs. (article 4)
NEW YORK A robust report on the U.S. services sector pushed U.S. Treasury bond prices lower Tuesday, propelling the two-year Treasury note's yield to a nine-month high of 5 percent. (article 5)
The 10-year note wasn't far behind, as the Institute for Supply Management's surprisingly strong reading added to signs the U.S. economy is picking up, with investors continuing to price out the chance of a cut in interest rates. (article 5)
Bernanke predicted Tuesday the economy will rebound from its anemic start of the year even if the housing slump persists. (article 1)
Bernanke reiterated the Fed's view that the economy will expand "at a moderate pace" though the housing market is a "drag" on economic growth. (article 2)
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Other summaries about this story:
Event tracking:
Story keywords
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Bernanke, Fed, economy, rates, percent |
Source articles
- Bernanke expects economic rebound (boston.com, 06/05/2007, 669 words)
- Bernanke sees US rebound ahead (BBC News, 06/05/2007, 298 words)
- Fed Chief Dims Hopes for a Rate Cut (nytimes.com, 06/06/2007, 638 words)
- Wall Street Falls on Bernanke Comments (Washington Post, 06/05/2007, 488 words)
- Treasurys Prices Hit Fresh Yield Highs (Washington Post, 06/05/2007, 414 words)
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blaster@cs.columbia.edu
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