The Federal Reserve should maintain its ongoing bond-buying program until there are clear signs that the public is growing more confident in the labor market, Dennis Lockhart, president of the Atlanta Federal Reserve Bank, said Thursday
In September, the Fed launched its third round of bond buying -- or quantitative easing, colloquially known as QE3 -- and said it would keep up the purchases until there was a substantial improvement in employment
In a speech in Chattanooga, Tenn., Lockhart said a simple decline in the unemployment rate would not meet this test
In addition to confidence, as measured by people coming back into the labor market, Lockhart remarked that he would want to see increased flows of job seekers into the labor market
There also would have to be gains in people getting full-time work instead of having to settle for part-time work
Falling claims for state unemployment insurance would be another factor, he said
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WASHINGTON (MarketWatch)
Factory orders rebounded 4.8% in September, almost completely reversing a drop in the prior month, the Commerce Department reported Friday.
The gain was very close to expectations.
Economists polled by MarketWatch had forecast a 4.7% rise.
Orders in August were revised up slightly to a 5.1% fall from an initially reported 5.2% decline.
In September, orders for non-durable goods rose 1.0%.
Shipments rose 0.8% while inventories increased 0.3%.
Durable goods were revised to a 9.8% gain from 9.9% reported last week.
The gain in durable-orders was largely due to a rebound in bookings for commercial aircraft.
Orders for non-aircraft, non-defense capital goods rose a slight 0.2% in September
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