Chairman Ben Bernanke ended weeks of speculation Wednesday by saying the Federal Reserve will likely slow its bond-buying program later this year and end it next year if the economy continues to improve.
Ben Bernanke declined Wednesday to address speculation that he will step down as chairman of the Federal Reserve in January when his term ends, saying he wanted to keep the attention on Fed policy.
Chairman Ben Bernanke says the Federal Reserve could scale back its $85 billion in monthly bond purchases later this year if the economy continues to improve.
The Federal Reserve sketched a slightly brighter picture of the U.S. economy this year and next, a sign it is moving closer to slowing its bond-buying program.
Porsche is the top performer in an annual survey of new vehicle quality.
FedEx Corp.'s fourth-quarter profit fell 45 percent as international customers traded down to less-expensive delivery options and the company spent heavily on restructuring.
Stocks fell sharply Wednesday after Federal Reserve Chairman Ben Bernanke said the central bank could slow its massive bond purchases this year and end them by mid-2014 if the economy improves enough. High-dividend stocks like telecommunications and utilities fell the most. Markets have been making big swings in recent weeks as traders try to anticipate when the Fed will ease back on the bond-buying program. The Dow Jones industrial average had its seventh straight move of 100 points or more.
Gold ended higher and grain contracts climbed in Wednesday trading.
A government analyst says the merger of American Airlines and US Airways would reduce competition on more than 1,600 routes traveled by more than 53 million passengers.
A comparison of the Federal Reserve's statements from its two-day meeting that ended Wednesday and its meeting on April 30-May 1:
Here are five key facts to know about the health care overhaul before major portions of it begin next year.
Thailand will pay farmers 20 percent less for rice to stem losses from a much-criticized subsidy program that dislodged the country from its spot as the world's No. 1 exporter of the grain, a government minister said Wednesday.
Shares of gene therapy developer Bluebird Bio Inc. are surging in their trading debut.
BACK STORY: A year ago, Julian Assange skipped out on a date with Swedish justice. Rather than comply with a British order that he go to the Scandinavian country for questioning about sex crimes allegations, the WikiLeaks founder took refuge in the Ecuadorean Embassy in London.
Here is the statement the Federal Reserve released Wednesday after its two-day policy meeting:
THE TALKS: Greece's governing coalition parties met for the second time in three days to try and end a political crisis triggered by the closure of state broadcaster ERT.
Best Buy is recalling 5,100 replacement batteries for the MacBook Pro due to a fire risk.
A federal court order that United Technologies Corp. pay $473 million plus interest to compensate for alleged fraud in its sale of fighter jet engines could cut into revenue and profit, the aerospace giant said in a regulatory filing.
J.D. Power and Associates released its ranking of initial quality in 2013 model-year vehicles Wednesday. Here's how the brands stacked up, along with their problems per 100 vehicles and how much they moved up or down in the rankings from last year.
J.D. Power and Associates released its annual survey of vehicle quality Wednesday. The survey asked drivers about problems with 2013 model-year vehicles in the first 90 days of ownership.
The Blackstone Group LP said Wednesday that General Wesley Clark and Lars Thunell have joined the board of its newly formed power development company Fisterra Energy.
Apparently, Men's Wearhouse doesn't like the way its founder looks. In a terse release issued Wednesday, Men's Wearhouse said it has fired the face of the company and its executive chairman, George Zimmer, who appeared in its TV commercials with the slogan "You're going to like the way you look. I guarantee it."
The nation's crude oil supplies increased last week, the government said Wednesday.
Cyprus' deputy government spokesman says the Cabinet has ratified a preliminary agreement with U.S. firm Noble Energy and its Israeli partners Delek Drilling and Avner Oil Exploration on their participation in the development of a planned natural gas processing facility.
Financial markets shuddered Wednesday after the Federal Reserve said it could start scaling back its huge bond-buying program later this year and end it by the middle of 2014.
