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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: interest rates

interest rates stories: 17 news summaries
MARKETS

 Dow Up 137; 
 Fed News Sparks Rally 

Bernanke predicts US GDP growth in 2010

Nov 16, 09 3:12 PM CST
(Newser) - Stocks rallied today on news of strong third-quarter economic growth in Japan and reassurance from Ben Bernanke that the Fed will keep interest rates low, the Wall Street Journal reports.
  • The Dow rose 136.49 points to close at 10,406,96.
  • The Nasdaq gained 29.97, settling
... More »

MORE ABOUT:
Ben Bernanke • Japan • Federal Reserve • Dow Jones • Nasdaq • S&P 500 • Japanese economy • interest rates

Sorry, FDIC Can't Guarantee Interest on That CD 

When selling failed banks, Feds allow buyers to slash expected payout

Nov 4, 09 9:38 AM CST
(Newser) - There’s a little-publicized part of your bank deposit the FDIC doesn’t insure, and it’s driving scrupulous savers up the wall. The logic is simple enough: When the FDIC takes over a failed bank and resells its assets, it allows buyers to alter interest rates, particularly on CDs.... More »

MORE ABOUT:
CDs • certificates of deposit • FDIC • bank failure • interest rates • assets • life savings

investigation

Mortgage Scammers Prey
on Strapped Homeowners

So-called rescue firms promise to negotiate lower rates, then take money and run

Sep 24, 09 7:50 PM CDT
(Newser) - Mortgage brokers who made a mint during the housing boom setting up homeowners in toxic loans are now profiting from a different sort of shady deal. So-called foreclosure rescue firms are proliferating across the US, taking money upfront and promising to negotiate with homeowners’ banks for better interest rates. Instead,... More »

MORE ABOUT:
foreclosure • mortgage • scam • mortgage debt • homeowners • housing crisis • interest rates • Federal Trade Commission

(AP) - The Federal Reserve today decided as expected to hold a key bank lending rate at a record low near zero and pledged to keep rates there "for an extended period." The Fed also declared that "economic activity has picked up following its severe downturn" and said it... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • recession • economy • interest rates

analysis

 Bernanke's Next Challenge:
 Undoing His Own Work 

Rate cuts, other moves must eventually be reversed

Aug 26, 09 9:22 AM CDT
(Newser) - In his first term as Fed chairman, Ben Bernanke played the role of savior, lending hundreds of billions to banks and businesses, backing the mortgage market, and cutting interest rates. In his second, Bernanke will have to turn “strict disciplinarian,” reversing earlier moves to respond to a massive... More »

MORE ABOUT:
inflation • Ben Bernanke • White House • Federal Reserve • lending practices • Obama administration • financial crisis • President Obama • interest rates

MARKETS

 Dow Off 77 on Consumer Data 


Aug 14, 09 3:19 PM CDT
(Newser) - Stocks dipped today on worse-than-expected information about consumer sentiment, the Wall Street Journal reports. A Reuters index dropped 3 points instead of the anticipated 2-point rise. A downward spiral has been evident since the Fed announced it would not raise interest rates Wednesday. “A day like today has... More »

MORE ABOUT:
stock market • NASDAQ • New York Stock Exchange • Federal Reserve • Dow Jones • consumer confidence • S&P 500 • interest rates

(Newser) - The Federal Reserve has slowed its recovery-minded plan to purchase Treasury securities but said that "economic activity is leveling out," the Wall Street Journal reports. The Fed’s policy committee hopes to complete its $300 billion purchase of Treasury securities by October—originally slated for September—and... More »

MORE ABOUT:
Federal Reserve • recession • GDP • Treasury Department • Treasury bills • interest rates • economists • economic recovery

MARKETS

 Dow Off 23 on Fed Rate News 


Jun 24, 09 3:09 PM CDT
(Newser) - Markets were mixed today as positive economic indicators and surging tech stocks battled with a Fed announcement that interest rates would be held near zero, the Wall Street Journal reports. The Dow lost early momentum, but the Nasdaq flourished. “We’ve basically come through a panic phase,” an... More »

MORE ABOUT:
stock market • NASDAQ • New York Stock Exchange • Federal Reserve • Dow Jones • tech stocks • S&P 500 • interest rates

(Newser) - Economists think the US unemployment rate will stay above 9% through 2010, the Wall Street Journal survey finds. Accordingly, those in the know believe the Federal Reserve will hold interest rates down at least through spring. “For real people, there is no recovery until the unemployment rate stabilizes,”... More »

MORE ABOUT:
inflation • Ben Bernanke • Federal Reserve • recession • unemployment • Treasury Department • survey • Obama administration • Timothy Geithner • interest rates • economists • economic recovery

(Newser) - With revenues from high-risk cardholders dwindling, credit card companies are moving to impose stiffer fees on customers who've been accustomed to preferential treatment, the New York Times reports. Expect banks to bring back annual fees and slash reward programs, say industry insiders. And card holders who pay off their entire... More »

MORE ABOUT:
credit card • hidden fees • credit rating • interest rates • Credit Cardholder's Bill of Rights • credit card reform

ANALYSIS

Edgy Banks Crack Down on Revolving Credit Lines

Shorter loan maturities, higher interest rates make 'safety nets' less safe for businesses

May 4, 09 9:04 AM CDT
(Newser) - Banks, lashed by the credit crunch and wary of defaults, have shortened the terms on revolving credit lines—typically running for 3 or 5 years—to less than a year, the Wall Street Journal reports. Often a little-used safety net before the recession, so-called revolvers had low interest rates; now,... More »

MORE ABOUT:
corporate credit • default • financial crisis • interest rates • business loan • credit line

Fee Hikes at Bailed-Out Banks Spur Investigation

Interest rates as high as 30% raise questions about program's effectiveness

Apr 13, 09 7:08 AM CDT
(Newser) - Congressional overseers of the TARP program are investigating the lending practices of several of the banks they bailed out in response to complaints that the banks are raising interest rates and fees, the Wall Street Journal reports. Despite receiving billions in taxpayer dollars, Bank of America last week nearly doubled... More »

MORE ABOUT:
Citigroup • Bank of America • loans • credit card • fees • consumer credit • interest rates • Elizabeth Warren

 Turnaround? Don't Get 
 Too Giddy Just Yet 

Further decline still possible, they warn

Apr 10, 09 6:39 AM CDT
(Newser) - Signs of an economic recovery seem to be sprouting all around, but plenty of skeptics warn against starting the celebration too early, reports the New York Times. Wall Street has been on the upswing the last two months as the credit market begins to thaw and low interest rates... More »

MORE ABOUT:
stock market • recession • unemployment • credit market • interest rates



 Euro Bank Chief 
 Slams US 
 on Stimulus 

Central bank chief says nations must get the last effort right

Mar 23, 09 8:34 AM CDT
(Newser) - The head of the European Central Bank says the continent does not need to spend more to combat recession, heightening the standoff between Washington and European governments over response to the financial crisis. In an interview with the Wall Street Journal, Jean-Claude Trichet said governments should concentrate on executing measures... More »

MORE ABOUT:
Federal Reserve • recession • central bank • European Central Bank • eurozone • financial crisis • interest rates • Jean-Claude Trichet

Plummeting Mortgage Rates Near Record Low

Rate for 30-year mortgage again below 5%

Mar 19, 09 12:03 PM CDT
(Newser) - Interest rates for fixed-rate mortgages decreased this week, with the rate for a 30-year mortgage falling 0.05% to an average 4.98%, near January’s record low of 4.96%, MarketWatch reports. Thirty- and 15-year mortgage rates are down nearly a full percentage point from a year ago. The... More »

MORE ABOUT:
housing market • Federal Reserve • mortgage • interest rate • 30-year mortgage • interest rates

analysis

Watch Out for These Economic Recovery Signs

Keep an eye out for slowing pasta sales

Feb 9, 09 4:52 PM CST
(Newser) - We knew the economy was toast when the GDP dropped 3.8% in the last quarter. But such data lags behind the real economy, writes Dan Kadlec in Time, so watch out for these indicators of a turnaround:
  • Home sales. They started the downturn, so any upswing is a
... More »

MORE ABOUT:
list • home sales • investment • credit • temporary employment • pasta • interest rates

(Newser) - How does one lose almost $2 billion in a matter of months? Look no further than the story of Deutsche Bank’s Boaz Weinstein, the chess master and gambling extraordinaire who made more than $1.5 billion for the firm in just 2 years before losing it all and more,... More »

MORE ABOUT:
gambling • bond trading • Deutsche Bank • chess • financial crisis • credit swaps • interest rates

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