From the FINANCIAL TIMES:
Members of the US Federal Reserve raised their 2011 economic growth forecasts but expressed uncertainty about the effects of a second round of quantitative easing last month, with some suggesting that signs of a strengthening economy could mean the central bank should scale back its programme to buy $600bn in Treasury securities.
In minutes from its latest Federal Open Market Committee meeting, the Fed upgraded its growth forecast to 3.4-3.9 per cent from its previous range of 3-3.6 per cent, pointing to stronger consumer spending, business investment and exports. In spite of the brighter outlook, the central bank showed ongoing concern about the lack of momentum in the labour market…
“Core” wholesale prices, which exclude volatile swings in food and energy, rose 0.5 per cent in January, marking the fastest monthly rise since October 2008, the labour department said on Wednesday. The increase was broad based, with prices of drugs, jewellery, tools and tyres all heating up…
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