NEW YORK - US STOCKS ended mixed on Wednesday after the Federal Reserve decided to maintain virtually zero interest rates and offered no leads about any change in its aggressive pump priming efforts.
NEW YORK - WARREN Buffett said on Wednesday that the US economy has 'no bounce' and will take time to recover, but there is no risk of deflation to push it further into despair.
Speaking on CNBC television, the world's second-richest person also praised efforts by the Obama administration and Federal Reserve to jump-start economic activity.
WASHINGTON - THE Federal Reserve on Wednesday said the recession is easing, but that the economy likely will remain weak and keep a lid on inflation.
Against this backdrop, the Fed held a key bank lending rate at a record low of between zero and 0.25 per cent, and pledged again to keep it there for 'an extended period' to help brace activity going forward.
WASHINGTON - An unexpected jump in US durable goods orders last month backed hopes that the economy was healing, but news from the hard-hit housing market remained mixed.
New orders for long-lasting US manufactured goods rose by a much stronger-than-expected 1.8 per cent in May, Commerce Department data on Wednesday showed. May's increase, the third gain in 4 months, followed a revised 1.8 per cent gain in April.
