Federal Reserve – News Stories About Federal Reserve - Page 30

MARKETS

May 2, 2008 3:37 PM CDT

Jobs Rally Fizzles; Stocks Mixed

Cautious market not fully inspired by jobs, Fed action

(Newser) - 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...

Stocks Rally; Dow Up Almost 200

MARKETS

May 1, 2008 3:24 PM CDT

Stocks Rally; Dow Up Almost 200

Fed's latest actions draw late but rave reviews

(Newser) - 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...

Rate-Cut News
Sweeps Away Rally

MARKETS

Apr 30, 2008 3:38 PM CDT

Rate-Cut News Sweeps Away Rally

Stocks end down thanks to nervous investors

(Newser) - 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...

Fed Trims Rate to 2%

UPDATED

Apr 30, 2008 1:31 PM CDT

Fed Trims Rate to 2%

Markets expect cut to be body's last for some time

(Newser) - 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....

Bear Bailout Called 'Worst Mistake in a Generation'

Apr 29, 2008 8:18 AM CDT

Bear Bailout Called 'Worst Mistake in a Generation'

Bear Stearns move 'worst mistake in generation,' he charges

(Newser) - 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...

Mortgage Biz Battles Fed Reforms

Apr 28, 2008 7:05 AM CDT

Mortgage Biz Battles Fed Reforms

Rules would limit credit for worthy borrowers, bankers say

(Newser) - 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...

Dollar Rallies at Last

Apr 25, 2008 6:46 AM CDT

Dollar Rallies at Last

Greenback posts biggest advance since March as eurozone sputters

(Newser) - 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,...

Fed Ponders Pause in Rate Cuts—After 1 More

Apr 24, 2008 10:05 AM CDT

Fed Ponders Pause in Rate Cuts—After 1 More

Experts expect a last cut to 2% before the central bank stops and waits

(Newser) - 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...

Bank of England Launches Mortgage Swap Plan

Apr 21, 2008 4:00 AM CDT

Bank of England Launches Mortgage Swap Plan

Central bank would take on $100B in mortgages

(Newser) - 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...

Surging Energy Prices Drive Global Inflation

Apr 10, 2008 12:00 PM CDT

Surging Energy Prices Drive Global Inflation

Food costs, up 83% in 3 years, also slap worldwide economies

(Newser) - 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...

US Drops 80,000 Jobs,
Biggest Loss in 5 Years

BREAKING

Apr 4, 2008 8:00 AM CDT

US Drops 80,000 Jobs, Biggest Loss in 5 Years

Non-farm payrolls fall 80,000 in March, biggest drop in five years

(Newser) - 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...

Fed, Execs Defend Bear Bailout

Apr 3, 2008 12:10 PM CDT

Fed, Execs Defend Bear Bailout

Collapse would have spread throughout economy, they argue

(Newser) - 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,...

Bernanke: Adjustment Is Mostly Over

Apr 2, 2008 10:24 AM CDT

Bernanke: Adjustment Is Mostly Over

But admits economy could contract, possibility of recession

(Newser) - 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...

Congress to Grill
Bernanke on
Bear Stearns

Apr 2, 2008 8:40 AM CDT

Congress to Grill Bernanke on Bear Stearns

Questions will likely focus on timing and intensity of Fed's actions in brokering deal

(Newser) - 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...

Small Banks, States Rip Paulson Plan

Apr 1, 2008 9:18 AM CDT

Small Banks, States Rip Paulson Plan

Critics deride plan as that of 'a bunch of guys from Wall Street'

(Newser) - Small banks, credit unions, states, and assorted politicians wasted no time ripping into the Bush administration’s plans to rework federal regulation of the financial industry, calling it an amateurish attempt by a “bunch of guys from Wall Street,” reports the Wall Street Journal. “It’s because...

Market 'Fix' Just
Feeds the Beast

OPINION

Mar 31, 2008 5:08 PM CDT

Market 'Fix' Just Feeds the Beast

Bush denies need for regulations, Krugman writes in NYT

(Newser) - 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...

Stocks Up As Ugly Quarter Ends

MARKETS

Mar 31, 2008 3:48 PM CDT

Stocks Up As Ugly Quarter Ends

Markets gain for the first time in four days

(Newser) - 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...

Paulson Unveils Regulatory Reforms: No Quick Fix

Mar 31, 2008 9:53 AM CDT

Paulson Unveils Regulatory Reforms: No Quick Fix

Focus of plan including new oversight for Fed extends beyond current woes

(Newser) - 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...

Treasury Wants
Mega-Fed to
Monitor Markets

Mar 28, 2008 10:14 PM CDT

Treasury Wants Mega-Fed to Monitor Markets

Plan would merge agencies, allow Fed to swoop in on threats

(Newser) - 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...

Obama Plan: $30B Stimulus, More Regulation

Mar 27, 2008 2:29 PM CDT

Obama Plan: $30B Stimulus, More Regulation

Democrat blasts lax Bush oversight, McCain's laissez-faire approach

(Newser) - Barack Obama called today for stricter financial regulations and laid out a $30 billion stimulus plan, the Wall Street Journal reports, including measures aimed at the foreclosure crisis. The Democratic candidate said President Bush had “a generally scornful attitude toward oversight and enforcement,” and proposed expanding Fed powers...