Federal Reserve – News Stories About Federal Reserve - Page 37

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...

Fed News Boosts Dow to Record

Oct 9, 2007 3:45 PM CDT

Fed News Boosts Dow to Record

S&P 500 also closes at all-time high

(Newser) - The markets spiked to record highs today after the Fed released minutes from its critical September meeting that revealed unanimous consent for the large interest rate cuts. The Dow climbed 120.80 points to close at an all-time high of 14,164.53. One economist told the Journal, “Just...

Economy Slows, Stocks Surge: What Gives?

Oct 6, 2007 6:54 PM CDT

Economy Slows, Stocks Surge: What Gives?

'Teflon investors' are relying on the good news

(Newser) - Stocks are surging while classic indicators are signaling slump — so what gives? The answer, reports the Washington Post, lies in a bright jobs report and spiking Standard & Poor's 500-stock index. Backers are dissing the bad news as fast as they can finance, says the Post: "Call them...

Stocks Dip on Mortgage Fears

Sep 28, 2007 3:22 PM CDT

Stocks Dip on Mortgage Fears

Foreclosure worries continue to simmer

(Newser) - The markets dropped today on news that mortgage defaults last month climbed 30% from a year earlier, more evidence that foreclosures are on the rise. Wells Fargo and Washington Mutual tumbled, and the Dow dipped 17.31 to 13,895.63. Stocks bottomed out after a Fed official said players...

Stocks Climb on Rate-Cut Hype

Sep 27, 2007 3:51 PM CDT

Stocks Climb on Rate-Cut Hype

S&P surging on last, next Fed slashes

(Newser) - The stock market rose for a second day as a weak new-home-sales report added energy to speculation that the Fed will slash rates again next month; Bloomberg puts the odds of a quarter-point cut at 88%. The S&P added 5.96 to reach 1,531.38, climbing within 1....

Stocks Rise on Buffett Rumor

Sep 26, 2007 3:46 PM CDT

Stocks Rise on Buffett Rumor

Berkshire CEO may buy 20% of Bear Stearns

(Newser) - The Dow climbed 99.5 points today on the strength of the GM settlement and speculation that billionaire Warren Buffett might buy 20% of beleaguered Bear Stearns. The brokerage helped spur the biggest gain in a week, jumping 7.7% after the Buffett story circulated. Said a trader, “You...

Stocks Edge Up in Balancing Act

Sep 25, 2007 3:44 PM CDT

Stocks Edge Up in Balancing Act

Retailers’ sales sink as homes out-perform expectations

(Newser) - Stocks rose slightly today as retail woes were somewhat offset by August home sales that outperformed expectations, MarketWatch reports. Led by Microsoft, which rode the release of “Halo 3” to a 1.5% jump, the Dow climbed 19.59 to 13,778.65. The S&P dipped 0.52...

Stocks Dip After Two-Day Spike

Sep 20, 2007 3:34 PM CDT

Stocks Dip After Two-Day Spike

Goldman’s success can’t stop dollar jitters

(Newser) - Stocks fell today after two days of bullish investing set off by the Fed’s interest rate cuts; one trader told the Journal profit-taking would have taken its toll "even if there was no news whatsoever.” But there was news: FedEx cut its profit forecast; the dollar continued...

Wall Street Hunts for Its Next Bubble

Sep 20, 2007 12:48 PM CDT

Wall Street Hunts for Its Next Bubble

Emerging markets upswing could mirror '98 tech boom

(Newser) - With the Fed’s rate cut in place, Wall Street has visions of another bubble—this time in emerging markets. The Dow skyrocketed 2.5% on news of the cut, but even that was dwarfed by 4.2% gains in the Bombay Sensex and 4.3% in Brazil’s Bovespa....

Record Low: Euro hits $1.40

Sep 20, 2007 7:07 AM CDT

Record Low: Euro hits $1.40

Dollar breaks important threshold, but fall isn't over yet

(Newser) - The dollar dropped to a record low against the euro in early Asian trading on Thursday, breaking the $1.40 barrier for the first time since the establishment of the common currency. The Fed's half-point cut in interest rates led investors to drop the greenback, and chief Ben Bernanke's upcoming...

What Inflation? Consumer Prices Fall 0.1%

Sep 19, 2007 1:05 PM CDT

What Inflation? Consumer Prices Fall 0.1%

Fed's rate cut looks good as housing, gas prices hit books

(Newser) - Ben Bernanke is likely patting himself on the back right now, Bloomberg reports. US consumer prices fell 0.1% in August, the first decline this year, making Federal Reserve chairman’s rate cut look good, with inflation potentially under control. “Core inflation has now been falling for nearly a...