In depth coverage of Global Financial Crisis from Business Today
Global Financial Crisis
Federal Reserve Chair Janet Yellen

"The economy continues to operate considerably short of these objectives" of maximum employment and stable prices, the Federal Reserve Chair said at a swearing-in ceremony at the central bank in Washington.

 
 
At stake is the continuation of the financing of Greece by the creditors, including a Euro 1 billion ($1.35 billion) bailout installment to be paid in October.
Russia and China too have warned that the end of the US Federal Reserve's bond-buying programme could have a profound impact on the global economy and urged caution.
The Hellenic Statistics Authority said young people were by far the worst affected, with unemployment among job-seekers aged 15 to 24 standing at 64.9 per cent.
 
 
Overall, growth increased in the third quarter from a 2.5 per cent annual rate in the April-June period to the fastest pace in a year, the Commerce Department said.
A survey by HSBC showed that manufacturing activity expanded marginally in September, rising to 50.2 from August's 50.1.
The US government raked in a revenue of $200 billion last month, and reported outlays of $297.6 billion in the same month.
Advertisement