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May 2008
- Treasury Boss: Worst Is Over
  
  newser | Wall Street Journal | May 7, 08 2:45 AM CDT
  
  The US is emerging from the credit woes triggered by the turmoil over subprime mortgages—despite the continuing wave of foreclosures across the nation, according to Treasury Secretary Henry Paulson. Paulson, in the most positive comments yet from the White House on the nation's economic troubles, in part credited the federal bailout of Bear Stearns, reports the Wall Street Journal. More »
  
  Tags
  
  Federal Reserve • credit crisis • Bear Stearns • foreclosure • Henry Paulson • Fannie Mae • Freddie Mac • Federal Housing Administration • subprime mortgage crisis
- US Must Stop Foreclosures, Bernanke Warns
  
  newser | Los Angeles Times | May 6, 08 2:35 AM CDT
  
  Federal Reserve Chairman Ben Bernanke yesterday called for government intervention to halt home foreclosures, warning that to do nothing could "destabilize communities, reduce property values of nearby homes, and lower tax revenues." Bernanke said in a speech in New York that a million Americans were already three months behind in mortgage payments at the beginning of this year, threatening dire consequences for the future of the economy, reports the Los Angeles Times . More »
  
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  Federal Reserve • Ben Bernanke • foreclosure • Federal Housing Administration • House Financial Services Committee • mortgages • adjustable-rate mortgages
- Jobs Rally Fizzles; Stocks Mixed
  
  newser | MarketWatch | May 2, 08 3:37 PM CDT
  
  The markets ended mixed today as a rally spurred by news of fewer April job losses than expected and the Fed's bank-liquidity expansion died down before the closing bell, MarketWatch reports. The Dow rose 48.20, closing at 13,058.20, and the S&P 500 gained 4.56 to end at 1,413.90. The Nasdaq fell 3.72, closing at 2,476.99. More »
  
  Tags
  
  Federal Reserve • S&P 500 • Nasdaq • Dow Jones Industrial Average • jobless claims • rally • monetary policy
- Stocks Rally; Dow Up Almost 200
  
  newser | MarketWatch | May 1, 08 3:24 PM CDT
  
  Stocks rallied today on strong performances by several big tech firms, MarketWatch reports. Investors also poured money into financials in anticipation of the dollar boost the Fed will cause by holding interest rates steady after yesterday’s cut. The Dow climbed 189.87 to at 13,010.00, the Nasdaq rose 67.91 to 2,480.71, and the S&P 500 jumped 23.72 to 2,480.71. More »
  
  Tags
  
  Federal Reserve • S&P 500 • Nasdaq • Dow Jones Industrial Average • Ben Bernanke • Intel • interest rate cut • Exxon • Symantec
April 2008
- Rate-Cut News Sweeps Away Rally
  
  newser | Wall Street Journal | Apr 30, 08 3:38 PM CDT
  
  News of today's Fed interest-rate cut swept away a market rally, and stocks ended down. Language in the Fed statement indicating that further trims were unlikely spooked investors, the Wall Street Journal reports, though that news was expected. The Dow ended down 11.81 to 12,820.13; the Nasdaq was off 13.30 to 2,412.80; and the S&P down 5.35 to 1,385.59. More »
  
  Tags
  
  stock market • Federal Reserve • inflation • interest rate cut
- Fed Trims Rate to 2%
  
  newser | Wall Street Journal | Apr 30, 08 1:31 PM CDT
  
  As expected, the Federal Reserve cut a key US interest rate today, the Wall Street Journal reports, trimming its overnight rate a quarter-point to 2%. Seven consecutive cuts have the rate down from 5.25% in September as the Fed attempts to keep the economy from stalling under credit woes. "Economic activity remains weak," today's statement says, and markets "remain under considerable stress." More »
  
  Tags
  
  Federal Reserve • interest rate cut
- Bear Bailout Called 'Worst Mistake in a Generation'
  
  newser | Wall Street Journal | Apr 29, 08 8:18 AM CDT
  
  A former top-ranking Fed official has called the central bank's decision to bail out Bear Stearns its "worst mistake in a generation," the Wall Street Journal reports. The official, former chief of monetary policy, compares the hasty move to errors that helped trigger the Great Depression. He accused officials of ignoring other options, such as demanding more from buyer JP Morgan, seeking other suitors or removing certain assets from Bear's portfolio. More »
  
  Tags
  
  Federal Reserve • Bear Stearns • banking • liquidity • Great Depression • monetary policy
- Mortgage Biz Battles Fed Reforms
  
  newser | New York Times | Apr 28, 08 7:05 AM CDT
  
  As the Federal Reserve moves toward stricter lending rules, mortgage providers are firing back, calling the rules too broad and arguing that they could limit loans to borrowers who don't have credit problems, the New York Times reports. Regulation, bankers say, could raise the price of mortgages by increasing paperwork and the risk of lawsuits. The outcry has pushed the Fed to consider narrowing the number of mortgages the rules would apply to. More »
  
  Tags
  
  Federal Reserve • mortgage • subprime mortgage crisis • mortgage lender • lending practices • bankers
- Dollar Rallies at Last
  
  newser | Bloomberg | Apr 25, 08 6:46 AM CDT
  
  The dollar rose to a three-week high against the euro today and looked set to post its biggest weekly advance since March. The dollar advanced to $1.55 per euro this morning in London, after falling below the $1.60 barrier on Tuesday. The dollar also gained against the yen, and investors are betting on another strong showing next week, reports Bloomberg. More »
  
  Tags
  
  Federal Reserve • US dollar • euro • yen • European Central Bank • ECB
- Fed Ponders Pause in Rate Cuts—After 1 More
  
  newser | Wall Street Journal | Apr 24, 08 10:05 AM CDT
  
  The Federal Reserve may be ready to cool its torrid rate-cutting after a likely .25% percentage point cut at its meeting next week, the Wall Street Journal reports. Futures markets are betting Chairman Ben Bernanke is unlikely to rest just yet, with little change in the month-to-month economic picture, but will pause after that to assess the cuts' effect and avoid stoking inflation. More »
  
  Tags
  
  Federal Reserve • recession • Ben Bernanke • subprime crisis • inflation • interest rate cut
- Bank of England Launches Mortgage Swap Plan
  
  newser | BBC | Apr 21, 08 4:00 AM CDT
  
  Commercial banks will be allowed to temporarily swap some $100 billion in troublesome mortgages for securities backed by Britain's central bank under a plan announced today, the Wall Street Journal reports. The move by the Bank of England, aimed at boosting liquidity and confidence in the banking system, follows similar action by the US Federal Reserve. More »
  
  Tags
  
  Federal Reserve • Gordon Brown • mortgage • Alistair Darling • mortgage lender • Bank of England • consumer debt
- Surging Energy Prices Drive Global Inflation
  
  newser | Wall Street Journal | Apr 10, 08 12:00 PM CDT
  
  Inflation in Europe and the US is projected to reach its highest point since 1995, the Wall Street Journal reports, with food prices up 83% in three years and rising energy and transportation costs. The International Monetary Fund predicts the US and Europe will see inflation of 2.6% this year, with consumer prices in developing countries rising 7.4%. More »
  
  Tags
  
  Federal Reserve • food • inflation • food prices • World Bank • consumer prices • International Monetary Fund
- US Drops 80,000 Jobs, Biggest Loss in 5 Years
  
  newser | Wall Street Journal | Apr 4, 08 8:00 AM CDT
  
  Unemployment surged in March to 5.1%, the worst it’s been since September 2005, reports the Wall Street Journal. The country lost 80,000 non-farm jobs last month after dropping 76,000 jobs in both January and February. The third sharp drop fuels fears that the US has slipped into a recession and may prompt another interest rate cut by the Fed. More »
  
  Tags
  
  US economy • Federal Reserve • recession • unemployment • Labor Department • payrolls
- Fed, Execs Defend Bear Bailout
  
  newser | New York Times | Apr 3, 08 12:10 PM CDT
  
  Bear Stearns was just hours from collapse, and letting it go down would have been disastrous, executives and regulators argued on Capital Hill today while defending the controversial bailout, the New York Times reports. Without the takeover, “we would all be facing a far more dire set of challenges,” said JPMorgan CEO James Dimon, citing the possibility of a mass run on other investment banks. More »
  
  Tags
  
  Federal Reserve • Ben Bernanke • Bear Stearns • JPMorgan Chase • Chris Dodd • Senate Banking Committee • James Dimon
- Bernanke: Adjustment Is Mostly Over
  
  newser | Wall Street Journal | Apr 2, 08 10:24 AM CDT
  
  Ben Bernanke for the first time acknowledged the possibility of a US recession, but he also voiced optimism that “much” of the adjustment period was over, the Wall Street Journal reports. His testimony before Congress seemed to suggest an end to aggressive stimulus measures—noting that rates had already been cut “substantially” and inflation was still a “source of concern.” More »
  
  Tags
  
  Congress • US economy • Federal Reserve • recession • Ben Bernanke • interest rate cut • economic stimulus
- Congress to Grill Bernanke on Bear Stearns
  
  newser | New York Times | Apr 2, 08 8:40 AM CDT
  
  Federal Reserve Chairman Ben Bernanke steps onto a tightrope today for two days of Congressional testimony focusing on the central bank’s starring role in the Bear Stearns bailout. Bernanke likely will be taken to task for not stepping in earlier, and more forcefully, to avert economic chaos, reports the New York Times . More »
  
  Tags
  
  US economy • Federal Reserve • Ben Bernanke • Bear Stearns • JPMorgan Chase
March 2008
- Market 'Fix' Just Feeds the Beast
  
  newser | New York Times | Mar 31, 08 5:08 PM CDT
  
  The Treasury plan unveiled today will never rein in free-wheeling markets because it isn't intended to, Paul Krugman writes in the New York Times . President Bush, who for 7 years has slashed at regulations, ignores how well they harness deposit-taking banks. And he denies that "non-depository" banks like Bear Stearns need them too. More »
  
  Tags
  
  George W. Bush • Federal Reserve • Bear Stearns • Henry Paulson • regulation
- Stocks Up As Ugly Quarter Ends
  
  newser | Bloomberg | Mar 31, 08 3:48 PM CDT
  
  Stocks closed up today as the year's dismal first quarter came to an end. Lower oil prices, improved business activity and a favorable reaction to Treasury Secretary Henry Paulson's new regulation plan helped to boost the markets, Bloomberg reports. The Dow ended up 46.49 to 12,262.89, the Nasdaq rose 17.92 to 2,279.10, and the S&P 7.48 to 1,322.70. More »
  
  Tags
  
  stock market • Federal Reserve • financial sector
- Paulson Unveils Regulatory Reforms: No Quick Fix
  
  newser | Wall Street Journal | Mar 31, 08 9:53 AM CDT
  
  The "transformative" changes Henry Paulson has in mind for the regulation of the US economy will take years to implement, the Treasury Secretary said today. The plan would greatly increase the Fed's oversight powers, regulate the insurance industry for the first time, and add federal oversight of the mortgage business, the Wall Street Journal reports. “We need to begin the serious work of modernizing and reforming the structure,” Paulson said. More »
  
  Tags
  
  Federal Reserve • economy • SEC • Henry Paulson • regulation • insurance • investment banks • economic reform
- Treasury Wants Mega-Fed to Monitor Markets
  
  newser | New York Times | Mar 28, 08 10:14 PM CDT
  
  The Treasury wants a newly empowered Federal Reserve to monitor market stability and swoop in on institutions that threaten it, the New York Times reports. If approved by lawmakers, the Treasury plan would merge a jumble of regulatory agencies and combine the SEC with the Commodity Futures Trading Commission. But the plan also reduces or maintains current regulation in many cases—elements sure to provoke battles with Democratic lawmakers. More »
  
  Tags
  
  Federal Reserve • Wall Street • SEC • Henry Paulson • financial markets • regulations

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