While you were sleeping Furious Fed backpedalling

Thu, 27 Jun 2013

By Margreet Dietz June 28 (BusinessDesk) - Wall Street gained as US Federal Reserve officials stepped up their backpedalling to reassure investors that the central bank's bond-buying program is not about to disappear into the night. Federal Reserve Bank of New York President William Dudley reminded investors that the economic outlook, not the calendar, will dictate decisions on monetary policy, including the pace of asset purchases. "Economic circumstances could diverge significantly from the FOMC’s expectations" Dudley said in a speech in N...

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