Federal Reserve – News Stories About Federal Reserve - Page 14

Fed: Don't Expect
Rate Hikes Until 2014

Jan 25, 2012 12:12 PM CST

Fed: Don't Expect Rate Hikes Until 2014

Benchmark rate is probably staying put for a long time

(Newser) - The Federal Reserve assured consumers and businesses today that they'll be able to borrow cheaply well into the future. The Fed said it's unlikely to raise its benchmark interest rate before late 2014, extending its time frame by at least a year and a half. The Fed said...

Man Charged With Stealing $9.5M of Computer Code

Jan 19, 2012 9:44 AM CST

Man Charged With Stealing $9.5M of Computer Code

Bo Zhang accused of pilfering Treasury software

(Newser) - A Chinese computer programmer has been charged with stealing software code worth $9.5 million while working at the Federal Reserve Bank of New York. Prosecutors say Bo Zhang, a Chinese citizen who worked for a technology firm contracted to work on code at the New York Fed, copied a...

Bank of America May
Pull Out of Some Areas

Jan 13, 2012 10:18 AM CST

Bank of America May Pull Out of Some Areas

Bank tells Fed it'll shrink its footprint if things get rough

(Newser) - Should we start calling it Bank of Some of America? If push comes to shove, the banking giant is prepared to pull its operations out of some parts of the country, sources tell the Wall Street Journal . The unpalatable retreat is one of several contingency plans the bank drew up...

2006 Transcripts Show Fed Was Clueless on Housing

Jan 12, 2012 7:18 PM CST

2006 Transcripts Show Fed Was Clueless on Housing

Geithner, Bernanke, others missed signs of the pending collapse

(Newser) - The Fed released transcripts from meetings in 2006 today that reveal just how badly its top officials blew it on the looming housing crisis, the New York Times reports. The industry was showing signs of distress, but the Fed's attitude boiled down to, eh, no big deal. The officials...

Ron Paul's
Money Policy
Would Trigger
Next Depression

paul krugman

Dec 16, 2011 11:48 AM CST

Ron Paul's Money Policy Would Trigger Next Depression

Unfortunately, his views are embraced by the GOP: Paul Krugman

(Newser) - It seems to be Ron Paul's turn in the GOP spotlight, and while he may be a longshot to win the nomination, his views on monetary policy are representative of the party establishment—and they're highly dangerous, writes Paul Krugman in the New York Times . Paul believes in...

Central Banks Move
to Ease Market Strains

Nov 30, 2011 7:59 AM CST

Central Banks Move to Ease Market Strains

Stock futures surge on the news

(Newser) - Central banks around the world plan to ease the strain on the global financial system by taking coordinated action to prevent a lack of liquidity, they announced in a statement this morning—news that sent stock futures soaring more than 250 points . The Bank of Canada, Bank of England, Bank...

More Than 2 Years Later,
Secrets of Bailout Emerge

Nov 28, 2011 7:57 AM CST

More Than 2 Years Later, Secrets of Bailout Emerge

Banks took in billions of dollars, even as they claimed to be healthy

(Newser) - For more than two years, the Fed and the banks it bailed out during the 2007 to 2009 financial crisis have kept many of the details of the massive, multi-trillion-dollar bailout a secret. But, thanks to Freedom of Information Act requests, 29,000 pages of bailout details are pouring out...

Feds to Bank of America:
Get Your Act Together

Nov 22, 2011 7:16 AM CST

Feds to Bank of America: Get Your Act Together

Or else face public action

(Newser) - Federal regulators have warned Bank of America’s board that the bank will face a public enforcement action if it doesn’t take steps to fix its corporate governance, risk management, and liquidity, sources tell the Wall Street Journal . The bank has been operating under a confidential memorandum of understanding...

Fed Sees High
Unemployment
All Next Year

Nov 2, 2011 4:35 PM CDT

Fed Sees High Unemployment All Next Year

Forecast sees it at 8.6% at end of 2012

(Newser) - If President Obama were hoping for a quick election-year turnaround in the jobless rate, the Federal Reserve burst his bubble today. The Fed projected unemployment will be at 8.6% at the end of 2012, not much better than the 9.1% registered in September of this year, reports the...

Bernanke:
Recovery
'Is Close to
'Faltering'

Oct 4, 2011 2:22 PM CDT

Bernanke: Recovery 'Is Close to 'Faltering'

He advises Congress not to cut spending

(Newser) - Federal Reserve Chairman Ben Bernanke said today that the US economic recovery "is close to faltering" and that the central bank is prepared to take further steps to support it. (That potential action apparently pleased investors: The Dow came off the day's lows, fell a bit, then rebounded...

Ron Paul
Is Winning

Dana Milbank

Sep 22, 2011 1:48 PM CDT

Ron Paul Is Winning

At least, in the way that matters to him

(Newser) - Ron Paul isn’t going to be the next president, or even the GOP nominee. “And yet, in a sense, Ron Paul is winning the 2012 Republican presidential primary,” writes Dana Milbank in the Washington Post . Because Paul’s real goal is to push his Austrian economic theories...

Fed Tries
'Operation
Twist' to
Spur Growth

Sep 21, 2011 2:20 PM CDT

Fed Tries 'Operation Twist' to Spur Growth

Move intended to hold down long-term interest rates

(Newser) - The Federal Reserve says it will sell $400 billion of its shorter-term securities to buy longer-term holdings, its latest effort to boost a weak economy. The Fed's move to rebalance its $2.87 trillion portfolio could lower Treasury yields further. Ultimately, it might reduce rates on mortgages and other...

Did GOP Cross Line With Letter to Bernanke?

OPINIONs

Sep 21, 2011 1:05 PM CDT

Did GOP Cross Line With Letter to Bernanke?

Some pundits think Republican leaders shouldn't play politics with Fed

(Newser) - The latest political firestorm comes courtesy of the top four Republicans in Congress (Mitch McConnell, John Boehner, Jon Kyl, and Eric Cantor), who wrote a letter to Ben Bernanke urging restraint on the economy. "We have serious concerns that further intervention by the Federal Reserve could exacerbate current problems,...

Bernanke Stands Pat,
Sends Stocks Tumbling

MARKETS

Aug 26, 2011 9:15 AM CDT

Bernanke Stands Pat, Sends Stocks Tumbling

Dow tumbles below 11K

(Newser) - Ben Bernanke didn’t give any sign that the Fed was about to take fresh action to prop up the economy in his speech at Jackson Hole today, sending stocks tumbling. Bernanke said the Fed “is prepared to employ its tools as appropriate to promote a stronger economic recovery,...

Don't Hold Your Breath
for New Fed Stimulus

OPINION

Aug 24, 2011 7:51 AM CDT

Don't Hold Your Breath for New Fed Stimulus

Investors might be barking up the wrong tree

(Newser) - Stocks have been shooting up this week on speculation that Ben Bernanke will announce another round of quantitative easing to prop up the economy in his speech Friday at Jackson Hole. But investors had better hold their horses, Neil Irwin of the Washington Post reports, because “the appetite within...

Fed Handed
Wall Street
$1.2T in Loans

Aug 22, 2011 7:28 AM CDT

Fed Handed Wall Street $1.2T in Loans

Bloomberg reveals peak amount for the first time

(Newser) - In 2006, their best year ever, the 10 biggest US banks and brokerage firms made $104 billion in profits. By 2008, they had taken more than six times that amount—$669 billion—in emergency Federal Reserve loans. That amount, as well as amount loaned by the Fed to all its...

Perry: Bernanke
Printing More
Money 'Almost
Treasonous'

Aug 16, 2011 2:42 AM CDT

Perry: Bernanke Printing More Money 'Almost Treasonous'

Bernanke would be 'treated pretty ugly' in Texas, GOP hopeful warns

(Newser) - Federal Reserve chief Ben Bernanke will be no better than Benedict Arnold if he embarks on a third round of tinkering with the money supply between now and the election, Rick Perry told a Republican rally in Iowa yesterday. "If this guy prints more money between now and the...

Fed Panel
Split Over
Bernanke's
Low Rates
Policy

Aug 11, 2011 8:14 AM CDT

Fed Panel Split Over Bernanke's Low Rates Policy

It's the most a chairman has faced in 19 years

(Newser) - Ben Bernanke's Tuesday announcement that the Fed is prepared to keep short-term interest rates close to zero for at least two more years is facing internal revolt from the Federal Open Market Committee, the 12-member committee of Fed presidents and governors that sets monetary policy, reports the Wall Street ...

Stock Rally Stutters

Aug 10, 2011 4:38 AM CDT

Stock Rally Stutters

Falling futures mean we're not out of the woods

(Newser) - Global stocks were up early today following an uptick on Wall Street in the wake of the Fed's pledge to keep interest rates low. But it wasn't clear if the rebound would hold. Asia rates climbed and modest hikes marked Britain's FTSE 100 index (up .2%) and...

Dow Bounces
Back, Soars
430

Aug 9, 2011 3:05 PM CDT

Dow Bounces Back, Soars 430

Nasdaq, S&P also post huge gains

(Newser) - Another crazy day for the markets, but this time they ended way up in positive territory. The Dow rose 430 points to close at 11,239, up nearly 4%. The Nasdaq rose 125 to 2,483 (5.29%) and the S&P 500 jumped 53 to 1,173 (4.74%)....