Fed likely to end bond-buying program in October
The Federal Reserve’s trillion-dollar effort to shore up the U.S. economy is likely to come to an end in October, closing the books on a bold but controversial experiment that has tested the limits of the central bank’s power.
For the past year and a half, the Fed has been buying tens of billions of dollars in government bonds and securities each month in an attempt to tamp down long-term interest rates and boost the recovery. It was the third and largest bond-buying program the central bank has launched since the 2008 financial crisis. But officials have been slowly scaling back the effort this year, and documents released Wednesday show that the Fed’s policy-setting committee is nearly ready to call it quits.
09 July 2014
It is being reported that the major stainless steel producers in the United States, such as AK Steel, ATI Allegheny Ludlum and North American Stainless, recently announced its alloy surcharges for stainless steel flat products.
So far the stainless steel surcharges have remained flat for July compared to those for June. The alloy surcharges for 304 grades for July were at 89.10 to 89.14 per pound, falling slightly compared with 89.63 to 89.67 cents per pound for June.
Also, the alloy surcharges for 316 grades were at 130.82 to 130.88 cents per pound rising from 128.51 to 128.57 cents per pound for June. The July surcharges for 430 grades remained unchanged at 25.63 cents per pound
By Thomas Black 2014-05-15
Rising cargo rates are giving truckers confidence to expand fleets and replace tractors averaging a near-record age of 9.6 years. While first-quarter U.S. economic growth came to a near standstill, gross domestic product is expected to expand 2.5 percent this year, according to the median forecast of 94 economists surveyed by Bloomberg, topping 2013’s 1.9 percent rise, and accelerate to a 3.1 percent rate next year.
Even with winter storms disrupting highway travel, first-quarter truckload shipping volumes rose 4.9 percent and rates climbed 1.2 percent, according to consultant FTR Associates. North American truckers placed net orders for 90,289 large trucks in the three months ended in March, 35 percent more than a year earlier and the fastest such pace since early 2006.
Eaton raised its 2014 forecast for North American truck output by 5.7 percent to 280,000 units. That was among the highest annual totals projected by seven truck and equipment manufacturers, based on data compiled by Bloomberg. Their average prediction is for an 11 percent gain over 2013.