US Fed pressed ahead with plan to raise rates as it debated guidance

The US Federal Reserve pressed ahead at its last policy-setting meeting with plans to begin raising interest rates later this year despite an apparently vigorous debate over how to communicate its intentions.

Asian markets rally after dovish Fed minutes

The minutes show the central bank board aired worries about the stronger dollar, a stumbling eurozone economy, slowing growth in China and Japan and geopolitical risks.

Bernanke defends Fed response to financial crisis

Chairman Ben Bernanke said Friday that the Federal Reserve was left with few good options when it stepped in to shore up the largest US financial institutions during the 2008 crisis.

Federal Reserve makes a profit of USD 45 billion: Report

The US Federal Reserve has made a profit of a whopping USD 45 billion in 2009, a record in the 96-year history of the central bank, says a media report.

Fed officials see inflation risks, hope on jobs

Senior U.S. Federal Reserve officials placed different emphasis on inflation risks on Thursday, with one warning failure to withdraw support policies soon enough could could trigger inflation while another played down such risks.

Fed members see high unemployment as long-term worry

Federal Reserve members expressed concern at a policy meeting last month that unemployment would "remain elevated for quite some time," and limit economic growth, minutes released on Wednesday showed.

US Fed keeps interest rates at record low

The US Federal Reserve continues to keep interest rates at their historic low of near 0 percent.

Fed to stay aggressive despite recovery signs

The Federal Reserve opened a two-day policy meeting Tuesday expected to maintain aggressive efforts to jolt the US economy from recession, while mulling an "exit strategy" for when recovery takes root.