Federal Reserve

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Fluctuating Markets Close Up
 Fluctuating Markets Close Up 
MARKETS
Sep 16, 2008 3:17 PM CDT

Fluctuating Markets Close Up

Dow returns to 11K-plus territory

(Newser) - As AIG's future became somewhat clearer, the wildly fluctuating markets settled into positive territory at the end of today's session. Rumors that the Fed will bail out the mega-insurer helped nearly erase a 74% decline, Bloomberg reports. The Dow closed up 141.51 at 11,059.02, the Nasdaq gained...

Fed Holds Line on Interest Rates; Markets Bounce

Committee leaves rate at 2%, confounding investors' expectations

(Newser) - In its first unanimous interest rate decision in a year, the Federal Reserve voted today to leave its key interest rate unchanged at 2%. The decision reflects regulators' unwillingness to get even more involved in the developments roiling the financial markets, the Wall Street Journal reports. Stocks fell triple-digits on...

Paulson Played Cards Well in High-Stakes Showdown
Paulson Played Cards Well
in High-Stakes Showdown
ANALYSIS
Sep 16, 2008 12:27 PM CDT

Paulson Played Cards Well in High-Stakes Showdown

Paulson, remaining banks struggle to pull the market back together

(Newser) - Cue the Kenny Rogers, suggests Steve Pearlstein in the Washington Post; “Hank Paulson knows when to hold ‘em and when to fold ‘em.” Paulson was so determined not to commit federal dollars to bail out Lehman Bros. that when the banks said they couldn't step in...

Speculation on New Fed Rate Cut Tempers Losses
Speculation on New Fed
Rate Cut Tempers Losses
MARKETS
Sep 16, 2008 10:44 AM CDT

Speculation on New Fed Rate Cut Tempers Losses

Stocks dip early, then tick closer to even ahead of mid-afternoon announcement

(Newser) - Stocks swung upward after big opening losses today, the Wall Street Journal reports, helped by speculation that the Federal Reserve might step in to help AIG and cut interest rates. The Dow, down 155 early, was just barely negative before noon, with a similar pattern from other indices. “We're...

10 Banks Form $70B Fund to Stave Off Crash

Paulson brokers twin public-private liquidity measures

(Newser) - Ten of the world's largest banks have formed a massive liquidity fund to mitigate the effects of the Lehman Brothers meltdown, reports the Financial Times. All the investment banks will be able to borrow up to a third of the $70 billion fund in order to reduce volatility and stay...

AIG Seeks $40B Fed Loan in Bid to Prevent Collapse

Insurance giant tries to stave off credit downgrade, aims to sell assets

(Newser) - In yet another Wall Street meltdown, floundering insurance giant American International Group has turned to the federal government in a bid to stave off a threatened credit-rating downgrade that could trigger the firm’s immediate collapse, reports the New York Times. AIG has requested a $40 billion bridge loan from...

Feds, Banks Seek Lehman Deal by Tonight

BofA, Barclays balk at bad assets, but bailout not in the cards

(Newser) - Washington and Wall Street continued talks today aimed at solving the Lehman Brothers crisis as early as tonight, the Wall Street Journal reports. Federal Reserve officials still refuse to approve a bailout like the one that enabled JP Morgan to acquire Bear Stearns this summer—but possible buyers like Bank...

Credit Crisis at Tipping Point
Credit Crisis at Tipping Point
analysis
Sep 12, 2008 9:29 AM CDT

Credit Crisis at Tipping Point

As troubles mount, US government's intervention shows signs of strain

(Newser) - The federal government keeps taking aggressive steps to keep the markets from flying off the rails, and yet here we are again: facing another crisis and wondering how much intervention is necessary, the Wall Street Journal reports. With government intervention showing signs of strain amid entrenched economic problems, the crisis...

Lehman Doomed by Market Schadenfreude, Bear Bailout

Everyone's enjoying watching giant fall, Lewis writes

(Newser) - All it took was a single anonymously sourced report Tuesday to send Lehman Brothers down about 50% in 15 minutes. This proves two things, writes Michael Lewis: The market is jittery, and “Lehman Brothers is doomed.” The big bank’s fate is sealed in part “because it...

Senator: Fire 'Socialist' Paulson
Senator: Fire 'Socialist' Paulson
Sep 9, 2008 5:45 PM CDT

Senator: Fire 'Socialist' Paulson

Ky.'s Bunning appears to have problem with Fannie/Freddie move

(Newser) - Treasury Secretary Henry Paulson saved Fannie Mae and Freddie Mac, but now he may have to worry about saving his own job: One Republican senator called his policies socialist and recommended that he and Fed chief Ben Bernanke resign, Bloomberg reports. “They have taken the free market out of...

Wait on Rate Hikes Until Crisis Eases
Wait on Rate Hikes Until
Crisis Eases
OPINION
Sep 3, 2008 5:55 PM CDT

Wait on Rate Hikes Until Crisis Eases

Fed should ignore critics, hold its ground until markets rebound

(Newser) - Critics claim the Federal Reserve has been too eager to cut interest rates, and that lax policy has exacerbated inflation. But the Fed should hold its ground, Desmond Lachman argues in the American, until the housing and credit markets are clearly on the rebound. The credit crunch has prompted banks...

Stocks Flat on Mixed News
 Stocks Flat on Mixed News 
MARKETS
Aug 26, 2008 3:26 PM CDT

Stocks Flat on Mixed News

Convention, vacations mean trading volume stays light

(Newser) - Stocks were mixed amid mostly poor economic data today, the Wall Street Journal reports. With trading light and much attention focused on the Democrats’ economic plans, the Dow gained 26.62 to close at 11,412.87. The Nasdaq fell 3.62, closing at 2,361.97, while the S&...

Lower Oil, Inflation Rally Stocks
 Lower Oil, Inflation Rally Stocks
MARKETS
Aug 22, 2008 3:36 PM CDT

Lower Oil, Inflation Rally Stocks

Fed chief soothes markets; Lehman may have a buyer

(Newser) - Stocks rallied today amid light trading but still saw weekly losses as oil prices fell and financials rebounded, helped in part by a speech by Ben Bernanke that eased inflation fears, MarketWatch reports. The Dow surged 197.85 to 11,628.06; the Nasdaq gained 34.33, closing at 2,...

Greenspan: Housing Will Hit Bottom in 2009

Skilled immigrants would help end slump, he says

(Newser) - Alan Greenspan said housing prices could continue to edge lower through 2009, but should “stabilize or touch bottom” in the first six months of the year, reports the Wall Street Journal. And, the former Fed chief says, while a government bailout of Freddie Mac and Fannie May was the...

Consumer Prices Jump in July; Inflation at 17-Year High

(Newser) - US consumer prices shot up 0.8% in July, twice the expected rate, pushed higher by surging energy and food costs, the AP reports. The spike left inflation running at 5.6%, the fastest pace in 17 years, the Labor Department reported today. It marked the third straight month of...

Bad News Spurs Big Sell-Off
 Bad News Spurs Big Sell-Off
MARKETS
Aug 7, 2008 3:25 PM CDT

Bad News Spurs Big Sell-Off

Poor results at AIG, nervous retailers, rising oil all contribute to decline

(Newser) - The markets suffered big losses today as investors were confronted by bad news from retail and financial giants, as well as a 6-year-high in weekly unemployment, the Wall Street Journal reports. The Dow fell 224.64to 11,431.43. The Nasdaq lost 22.64 to finish at 2,355.73,...

Dow Skyrockets as Oil Retreats
 Dow Skyrockets as Oil Retreats 
MARKETS
Aug 5, 2008 3:23 PM CDT

Dow Skyrockets as Oil Retreats

Deep-seated concerns about economy remain

(Newser) - Stocks rallied today after the Fed said it would keep money cheap for the time being and crude prices fell to below $120 a barrel, a 3-month low. The Dow gained 330.80 to close at 11,614.95, the Nasdaq rose 64.27 to 2,349.83, and the...

Fed Again Leaves Funds Rate at 2%
Fed Again Leaves Funds Rate at 2%
Aug 5, 2008 2:07 PM CDT

Fed Again Leaves Funds Rate at 2%

Decision aimed at balancing inflation, economic worries

(Newser) - The Federal Reserve declared today that it was keeping its target for the federal funds rate, the interest that banks charge each other, at 2%. Confronted with the perils of a slumping US economy and rising inflation, the Fed decided for a second consecutive meeting to leave interest rates unchanged....

Greenspan to Government: Hands Off
Greenspan to Government: Hands Off
OPINION
Aug 5, 2008 1:15 PM CDT

Greenspan to Government: Hands Off

Market capitalism can ride out the crisis, writes former Fed boss

(Newser) - The credit crisis is far from over, and more banks and financial institutions might require government bailouts along the way, Alan Greenspan acknowledges. The crunch will relax only when home prices, "the ultimate collateral support for much of the financial world’s mortgage-backed securities," begin to stabilize, the...

Oil Drops; Stocks Follow
 Oil Drops; Stocks Follow  
MARKETS
Aug 4, 2008 3:35 PM CDT

Oil Drops; Stocks Follow

Gray day on Street ahead of Fed's policy meeting

(Newser) - Stocks closed down today, giving back gains from an early rally despite a nearly $4 drop in crude oil prices as worries about economic growth and inflation persisted, the Wall Street Journal reports. The Dow fell 42.17 to close at 11,284.15, the Nasdaq lost 25.40 and...

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