Fed Holds Rate Steady As Economy Shows Quiet Recovery
The Federal Reserve kept the federal funds rate at 1 percent, the lowest in four years, with officials unconcerned about inflation and signaling a cautious stance. Wall Street rose as the pace of growth appears to pick up, though the labor market remains weak and inflation remains muted. economists forecast solid fourth-quarter growth if momentum persists.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Fed
Alan Greenspan
Federal Open Market Committee
United States
Mark Zandi
Central Bank
Bush
National Association For Business Economics
Standard & Poor
Pepper Reds blues club closes after year of effort
Pepper Reds owner Charlita Anderson closed the Broadway Avenue blues club on September 11 after underwhelming late nights despite a mid August blues benefit. Building owner John Curry plans December reopening with blues on Saturdays and open jams on Thursdays, plus reggae and jazz on Fridays. Anderson says the venture taught real business lessons and advises a cash cushion and balance with family time.
MENTIONED IN THIS ARTICLE
Lorain — Pepper Reds
Broadway Avenue
Charlita Anderson
Anderson
John Curry
Curry
Blues
Rachel Ortega
Chronicle
Pepper Reds
Pepper Red
Lorain
CPI rises on energy costs push August inflation higher
Washington AP reports consumer prices rose 0.3 percent in August, the CPI’s biggest gain in five months, driven by a 2.7 percent jump in energy prices led by gasoline up 62 percent. Core inflation up 0.1 percent, economists say price pressures remain modest, Fed holds rate at 5 percent.
MENTIONED IN THIS ARTICLE
Washington
Labor Department
Ken Mayland
ClearView Eco- Themics
Stephen Cecchetti
Brandeis University
Fed
Federal Reserve Board
Alan Greenspan
Ex Bank of America trader charged in mutual fund fraud
New York officials filed criminal counts in a mutual fund trading probe charging Theodore Sihpol, a former Bank of America employee, with grand larceny and securities fraud. Sihpol surrendered in New York as the SEC brought civil charges amid a Canary Capital Partners probe. If convicted he could face eight to 24 years in prison.
MENTIONED IN THIS ARTICLE
NEW York
Bank of America
Securites
Eliot Spitzer
Theodore Sihpol OI
Securities and Exchange Commission
Spitzer
SEC
Sihpoi
Stephen Cutler
Sihpol
Don Buchwald
New
Canaan, Conn
Robert Stickler
Bofd
Nations Funds
Canary Capital Partners
Canary
Stocks Rally on Fed Signals and Data Boost
The Dow rose 113.43 points as Fed assurances of low rates and a steady path to recovery eased investors. Nasdaq gained 2.3 percent and S P 500 rose 1.4 percent amid stronger consumer prices and upgrades for Dow Jones and UPS.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
Wall Street
Fed
WCI Steel files Chapter 11 bankruptcy in Youngstown
WCI Steel Inc. filed for Chapter 11 protection in U S Bankruptcy Court Youngstown amid restructuring plans to keep producing steel. The War Ten based firm employs about 1800 workers and will continue operations with support from its New York parent The Renco Group Inc. WCI serves steel service centers converters and customers in automotive and construction markets from its Warren facility.
MENTIONED IN THIS ARTICLE
Youngstown
WCI Steel Inc
Coe
WCI
War- Ten
Edward R. Caine
Renco Group Inc
Wcts
WCT
Warren
Also Mentioned on This Page
Economy.com
Janu
She
Adrian Burns
Chronicletelegram
Bank America
Sihpoal
John P Waterman
Rittenhouse Asset Management
Kevin Caron
Ryan Beck & Co
Dow
Caron
Dow Jones & Co. Inc
Deutsche Securities
Wall Street Journal
United Parcel Service Inc
Merrill Lynch & Co. Inc
WCI Steel
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