Federal Reserve – News Stories About Federal Reserve - Page 37

Nov 17, 2007 7:35 AM CST

Feds Seize Ron Paul 'Dollars'

Candidate and 'sound money' advocate's image on 60,000 coins

(Newser) - Federal agents raided the Indiana headquarters of a so-called "sound money" group this week, seizing nearly 60,000 "Ron Paul Dollars"—copper coins bearing the likeness of the renegade Texan congressman, GOP candidate for president and sound-money advocate. The organization has more than $20 million in illegal...

Dow Up After Roller-Coaster Day

MARKETS

Nov 16, 2007 3:44 PM CST

Dow Up After Roller-Coaster Day

Bad news doesn't halt rally; markets end week up

(Newser) - The major indexes closed up today after erratic trading as bad news on industrial production and new negative forecasts failed to halt an end-of-week rally. The Dow gained 66.74 to 13,176.79, the Nasdaq climbed 18.73 to 2,637.24, and the S&P 500 closed at...

Inflation Still in Check as Housing Offsets Energy

Nov 15, 2007 9:43 AM CST

Inflation Still in Check as Housing Offsets Energy

Housing slump offsets energy rise to keep CPI down

(Newser) - Consumer prices saw only modest gains last month, welcome news for inflation watchers with an eye on rising oil prices and a dropping dollar. The Consumer Price Index rose 0.3%, in lockstep with analysts' estimates. Core CPI, which excludes food and energy, rose 0.2%. Year-over-year, the increases were...

Bernanke Ups Fed Transparency

Nov 14, 2007 10:34 AM CST

Bernanke Ups Fed Transparency

Extra reports to give investors clearer picture

(Newser) - The Federal Reserve will issue more detailed reports twice as often, Ben Bernanke announced today. Starting next Tuesday, the Fed will release projections for inflation, GDP, and unemployment four times a year, accompanied by a “narrative” telling investors what the Fed is thinking. Bernanke also said he’d be...

Mortgage Rates Drop
to 5-Month Low

Nov 9, 2007 2:16 AM CST

Mortgage Rates Drop to 5-Month Low

Analysts attribute dip to slackening economy

(Newser) - Rates for 30-year fixed mortgages have slipped for the third week in a row. The dip to 6.24% is the lowest level since May. Mortgage rates have been falling across the board over the last week, which analysts attribute to the slackening economy. The drop follows the Fed's cut...

Bernanke Sees Q4 Slowdown

Nov 8, 2007 9:58 AM CST

Bernanke Sees Q4 Slowdown

Fed chief sees economy as 'resilient' but growth slow through this quarter

(Newser) - Economic growth will slow "noticeably" through the end of the year and into 2008, Fed chief Ben Bernanke said in prepared testimony for a congressional panel today. Bernanke called the economy "resilient," but said the housing slump will intensify before it's over, the Wall Street Journal reports....

Stocks Plummet; Dow Off 362

Nov 1, 2007 3:49 PM CDT

Stocks Plummet; Dow Off 362

Rate-cut concerns, and plain old bad news, hit Wall Street hard

(Newser) - Stocks turned sharply downward today—including a 362-point plunge by the Dow—on concerns over yesterday's Fed rate cut and bad news from Exxon Mobil and Citigroup. The cut led to "nervousness that there's another shoe to drop," a analyst told the Wall Street Journal. The Dow was...

Fed Pitches $41B Into Market

Nov 1, 2007 1:03 PM CDT

Fed Pitches $41B Into Market

Cash pump meant to keep markets moving

(Newser) - The Federal Reserve followed up yesterday’s quarter-percent interest rate cut with a $41 billion cash injection into the US financial system today—one the biggest infusions of money yet, aimed directly at easing the credit crunch. The money was pumped into temporary reserves, where it's meant to lubricate turbulent...

Early Stock Dive Wipes
Out Fed-Rate Rally

Nov 1, 2007 10:54 AM CDT

Early Stock Dive Wipes Out Fed-Rate Rally

Dow tumbles by more than 250 points in early trading

(Newser) - Stock fell sharply at the opening today, wiping out yesterday's rally spurred by the Fed's rate cut. The Dow was down by over 250 points in early trading, spurred by several bits of bad news, including an Exxon earnings plunge and a Citigroup downgrade. But the Wall Street Journal speculates...

Stocks Up on Fed's Rate Cut

Oct 31, 2007 3:46 PM CDT

Stocks Up on Fed's Rate Cut

Exxon and Microsoft also lift the markets

(Newser) - Stocks rose today on the heels of the Fed's quarter-point cut of a key interest rate and good news about the GDP. "The Fed may be done here," a Boston strategist told Bloomberg. "We don't need them anymore, and the market is taking consolation in that."...

Fed Slashes
Key Interest Rate Another Quarter-Point

Oct 31, 2007 1:42 PM CDT

Fed Slashes Key Interest Rate Another Quarter-Point

Board signals further cuts are no sure thing

(Newser) - The Federal Reserve cut its key lending rate today by 25 basis points, to 4.5%. The expected reduction is the second of the federal funds rate in two months. The board asserted, however, that growth and inflation risks are now “roughly balanced,” a signal that further cuts...

GDP Grows at 3.9% Clip Despite Housing Crunch

Oct 31, 2007 11:27 AM CDT

GDP Grows at 3.9% Clip Despite Housing Crunch

GDP tops estimates on increased consumer spending

(Newser) - The US economy grew at a brisk 3.9% pace in the third quarter despite the credit and housing turmoil buffeting Wall Street, according to Commerce Department figures released today. Overall construction spending was up—with record commercial and government spending offsetting the housing slide—while individuals increased spending 3%...

Bernanke: How's He Doing?

Oct 31, 2007 11:05 AM CDT

Bernanke: How's He Doing?

Journal looks back at Fed chairman described as more collaborative, creative than Greenspan

(Newser) - As the Fed rolls out another anxiously awaited decision on rate cuts, the Wall Street Journal does a play-by-play analysis of Ben Bernanke's handling of the three-month old credit crisis with an eye to what we've learned about the new Fed boss. For starters, he's more open and collaborative than...

Fed Doubts Drive Stocks Down

Oct 30, 2007 3:51 PM CDT

Fed Doubts Drive Stocks Down

Consumer confidence report, Procter & Gamble forecasts are drags on markets

(Newser) - Stocks closed down today as confidence that the Fed will cut interest rates tomorrow faded. The Journal reported that policymakers are considering no cut at all, meaning borrowing costs may stay high. The Dow slipped 77.79 to 13,792.47, the S&P 500 was down 9.96 to...

Consumer Confidence Falls to Post-Katrina Levels

Oct 30, 2007 1:10 PM CDT

Consumer Confidence Falls to Post-Katrina Levels

Housing slump deepens, cranking up pressure on Fed

(Newser) - Consumer confidence plummeted in September to its lowest reading since October 2005, fueling worries that housing’s downturn could affect consumer spending, which makes up two-thirds of the economy. Home prices, meanwhile, suffered their biggest drop in at least 6 years. “There is really no positive news in today's...

Fed Doesn't Want Rate Cut— But Markets Do

Oct 30, 2007 7:09 AM CDT

Fed Doesn't Want Rate Cut— But Markets Do

And they're expecting it. Bernanke's hands tied as Fed meets today

(Newser) - Ben Bernanke and the rest of the Fed are meeting today to decide whether to cut interest rates again after September's surprise half-point reduction. Bernanke has made it clear that he'd rather not drop rates again. But, as Bloomberg writes, he might not have much of a choice: with home...

Wall Street Watching Fed's High Wire Act

Oct 28, 2007 6:32 PM CDT

Wall Street Watching Fed's High Wire Act

Rate cut expected in unusually tough decision this week

(Newser) - All eyes are on the Fed this week, with Wall Street expecting a quarter-point rate cut when the group meets Tuesday and Wednesday. But the decision is an usually tough one, the AP reports, with the tight rope between controlling inflation and keeping markets fluid more precarious than it has...

Stocks Up on Microsoft Earnings

Oct 26, 2007 3:42 PM CDT

Stocks Up on Microsoft Earnings

Nasdaq, others jump on Countrywide optimism and possible rate cuts

(Newser) - Optimism prevailed on Wall Street today as Microsoft clobbered estimates and Countrywide promised the worst was behind it. The tech-heavy Nasdaq led the way, gaining 53.33 to finish at 2,804.19. The S&P 500 rose 20.87 to 1,535.28; 65% of its components have beaten...

Housing Starts Plummet to 14-Year Low

Oct 17, 2007 9:49 AM CDT

Housing Starts Plummet to 14-Year Low

But modest consumer price hike soothes inflation fears

(Newser) - New homes starts fell to their lowest level in 14 years last month, plunging 10%—to an annualized rate of 1.191 million—after expectations of a 4.2% decline. The number followed a 3.2% drop in August, the Wall Street Journal reports. A homebuilders' confidence gauge registered its...

Housing Still a Drag: Fed Chief

Oct 16, 2007 5:38 AM CDT

Housing Still a Drag: Fed Chief

Setbacks likely, says Bernanke, who offers no hints on interest rate status

(Newser) - The real estate slump will continue to be a "significant drag" on US economic growth well into next year, said Federal Reserve Chairman Ben Bernanke in his first speech on the economy since August. Recovery from the credit crisis will take time, and setbacks are likely, Bernanke told the...