Copper Futures Rise on Bets Fed May Be Slow to Reduce Stimulus

Copper rose in New York on speculation that the Federal Reserve will signal that it’s unlikely to reduce stimulus measures soon.

The Federal Open Market Committee starts a two-day policy meeting tomorrow. Fed Chairman Ben S. Bernanke said this month that it’s too early to decide whether to begin scaling back debt purchases in September, after saying on June 19 that bond buying could slow if the economy improves. The metal more than tripled from the end of 2008 to a record $4.6575 a pound in February 2011 as the Fed cut interest rates to a record low and bought debt.