Federal Reserve

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Stocks Dip After Two-Day Spike
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
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
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%

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...

Market Still Partying After Cut
Market Still Partying After Cut
Sep 19, 2007 9:36 AM CDT

Market Still Partying After Cut

Rallies continue off of big Federal Reserve rate slash

(Newser) - Wall Street kept the party going today, as the Federal Reserve’s half-point rate cut kept pushing stocks up. Financials even shrugged off disappointing earnings from Morgan Stanley, which posted a more-than-expected 17% drop in net income for the quarter, the Wall Street Journal reports. The Dow rose 58.04...

Asia Stocks Surge After Fed Cut
Asia Stocks Surge After Fed Cut
Sep 19, 2007 5:00 AM CDT

Asia Stocks Surge After Fed Cut

Prices soar to highest levels in a month

(Newser) - Asian stocks rebounded after the US Federal Reserve announced a half point cut in its key lending rate in a bid to bolster growth and avoid a consumer spending slowdown. Toyota, Samsung Electronics and Honda, among those companies with the most to lose from a loss of consumer confidence, led...

Fed Slashes Benchmark Rate
Fed Slashes Benchmark Rate
Sep 18, 2007 2:05 PM CDT

Fed Slashes Benchmark Rate

Larger-than-anticipated drop drives stocks up, dollar down

(Newser) - The Federal Reserve aggressively cut its benchmark rate today, dropping the federal funds rate a half-point to 4.75%. The larger-than-expected cut was “intended to help forestall” the ballooning credit crisis, the central bank said in a statement. The cut in the key interest rate, the first in 4...

Stocks Dive Before Fed Meeting
Stocks Dive Before Fed Meeting
Sep 17, 2007 3:52 PM CDT

Stocks Dive Before Fed Meeting

All indexes fall as traders bite nails over tomorrow's Federal Reserve meeting

(Newser) - Wall Street bit its collective nails today, with fear mounting that the Fed meeting tomorrow will result in a rate cut of only 25 basis points rather than the 50 traders crave. The Dow fell 39.10 to 13,403.42, the S&P 500 dipped 7.60 to 1,...

Expected Fed Rate Cut Could Halt Crisis

Wall Street counting on help to boost falling stock prices

(Newser) - What happens next in the volatile world stock markets could depend on Federal Reserve chief Ben Bernanke. The Fed is expected to cut the interest rates banks charge each other for overnight loans, currently 5.25%. It would make loans cheaper, boost consumer spending, revive stock prices and ultimately, prevent...

Investors Might Reap Rewards of Dollar's Slide

Currency's record lows against euro cause "to cheer," analyst says

(Newser) - The dollar may be continuing its slow, steady decline against the euro, but many analysts are looking on the bright side, Business Week reports. American stocks, companies, investors, and workers can all benefit from the decreasing value of their currency, economists say, with one calling the dollar’s decline “...

Greenspan Attacks Bush, GOP
Greenspan Attacks Bush, GOP
Sep 15, 2007 7:44 AM CDT

Greenspan Attacks Bush, GOP

Former Fed Chair decries Republican economic policies

(Newser) - Former Fed chairman Alan Greenspan lambastes President Bush and his own party  for disastrous economic policies in a memoir published next week. He criticizes the GOP for abandoning fiscal restraint while it had control of both Congress and the White House, the Wall Street Journal reports. Republicans in Congress, he...

Stocks in Holding Pattern With All Eyes on Fed

Hands wring over Fed and consumers

(Newser) - Stocks marked time today, settling into an eerie calm before next week’s nail-biter Fed decision on interest rates. Investors mulled conflicting consumer data: The University of Michigan/Reuters consumer-sentiment survey announced a rise to 83.8, but August retail growth was less than expected. The confusion amounted to modest gains...

August Retail Sales Fail to Meet Forecasts

Gain of .3% drops to .4% loss if auto sales are excluded

(Newser) - Retail sales were up last month, but the .3% rise failed to meet expectations, and if automobile sales are excluded, sales actually fell by .4%—the steepest drop in a year. The August sales figures provide more fodder for an interest-rate cut when the Fed meets next week. “The...

Greenspan Missed Subprime Crisis Signs

And Bernanke's doing 'an excellent job,' says Fed's former Yoda

(Newser) - Alan Greenspan didn't see the subprime crunch coming, the former Fed chairman tells CBS' "60 Minutes." Greenspan also gave his successor a pat on the back, saying Ben Bernanke "is doing an excellent job." Some have suggested that Bernanke isn't acting as presciently as his predecessor;...

After Wild Day, Stocks Stand Still
After Wild Day, Stocks Stand Still
Sep 10, 2007 4:35 PM CDT

After Wild Day, Stocks Stand Still

Dow is up, Nasdaq and S&P are down, all eyes are on the Fed

(Newser) - Wall Street was volatile today, with the Dow swinging in a 160-point range as investors combed speeches from Federal Reserve members for rate-cut clues. But the index ended up rising only 14.47 points, to 13,127.85, while the S&P and Nasdaq fell 1.85 and 6.59...

US Lost Jobs for First Time in 4 Years

August payroll drop shows subprime crisis affecting economy

(Newser) - In the first drop since 2003, the US lost 4,000 jobs in August, surprising experts and putting more pressure on the Fed to reduce rates at its upcoming meeting. Economists had predicted an increase of 100,000 or more jobs. The decline in employment is the clearest signal to...

Stocks Plummet in Worldwide Selloff

After 3 days of good news, markets fall again

(Newser) - After 3 days of good news, stocks took a plunge today. “There’s a whole litany of negative news,” said one analyst. “Bodies keep washing ashore" from the subprime crisis. The Dow lost 143.39 to close at 13,305.47, with the S&P 500 down...

SEC: Don't Blame Credit Markets for Firm's Demise

Bankrupt cash management operation comes under federal scrutiny

(Newser) - The feds don’t know what happened to the millions of dollars that disappeared from the books of a Chicago-area cash management firm, but they don’t believe upheaval in the credit markets is to blame. Days after Sentinel Management blocked investors from withdrawing their investments, the company filed for...

Fed Could Take Credit Crunch Fix to the Bank

Interest rates may drop, but deposit rates could go with them

(Newser) - If you have CDs or a savings account, you may be contributing, soon enough, to the solution to the credit market upheaval, the LA Times reports. Some investors expect the Federal Reserve to cut short-term interest rates next month, a move that could inspire banks to raise money elsewhere by...

Recession Risk Seen in Mortgage Misery

Top economist urges immediate rate cuts to avoid catstrophe

(Newser) - Mortgage woes could spark a serious recession, a prominent economist said yesterday. National Bureau of Economic Research President Martin Feldstein said that interest rates must be slashed heavily and quickly, or declining prices and weakening home equity withdrawal could hobble the economy, Reuters reports.

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