MND NewsWire : Federal Reserve

Fed Providing Plenty of Liquidity To Mortgage Market

Adam Quinones — Thu, 20 Aug 2009 20:27:00 GMT

The Fed's daily purchase average was $5.00 billion per day, an increase from last week's daily average of $4.08 billion per day. This is twice the amount of average daily originator selling, illustrating that the Federal Reserve continues to provide ample liquidity to mortgage bankers looking to hedge their pipelines of committed and uncommitted loans....(read more)

Mid-Morning Recap: Big Sell-Off as World Bank Downgrades Growth

Patrick McGee — Mon, 22 Jun 2009 15:53:28 GMT

Investor sentiment began the week with a rapid downward slide after the World Bank released new forecasts severely downgrading the prospects for a global recovery. The world economy remains "unusually uncertain" and is now expected to shrink 2.9% this year, the World Bank said, compared with the -1.7% prediction issued in March. Markets opened lower and extended losses in the first hour of trading. As of 11:00, the Nasdaq had shed 2.50% to 1781, the S&P 500 had lost 2.12% to 902, and...(read more)

Mid-Morning Recap: Markets Lower on Soft Monday

Patrick McGee — Mon, 08 Jun 2009 15:19:33 GMT

Financial markets are beginning the week on a soft note as investors take profits from last week’s gains. After opening slightly lower than Friday’s close, the first hour of trading has seen stocks tumble as investors do a double-take on the signs pointing to economic recovery. At 10:30 am, the S&P 500 had dropped 0.97% to 930, the Dow was 1.21% lower at 8657, and the Nasdaq was the poorest of all, down 1.42% to 1823. No economic data will be released on Monday, but investors have...(read more)

FDIC & Fed Want Systemic Regulator in U.S.

CEP News Feed — Thu, 19 Mar 2009 14:51:45 GMT

The Federal Reserve and Federal Deposit Insurance Corporation want to create systemic regulator in the United States and overhaul the financial system to prevent and limit impacts from financial crises, according to officials from both bodies. "It...(read more)

Fed's Bernanke Says 1% Target Rate Isn't Floor, Other Actions More Effective

CEP News Feed — Mon, 01 Dec 2008 19:46:00 GMT

Federal Reserve chairman Ben Bernanke said that economic activity has downshifted further and the policy response must be vigorous. He said cutting the Fed funds target rate below 1% is "certainly feasible", but broader action could be more...(read more)

Fed, SEC, CFTC and Treasury Department to Establish CDS Clearing House

CEP News Feed — Fri, 14 Nov 2008 15:25:40 GMT

The Fed, SEC, CFTC and Treasury Department have signed a memorandum of understanding for the creation of a clearing house for credit default swaps (CDS) , which will begin operations by the end of 2008. "A well-regulated and prudently managed CDS...(read more)

Paulson Unveils Phase Two of TARP

CEP News Feed — Wed, 12 Nov 2008 16:09:16 GMT

Delivering an update to the Troubled Asset Relief Program (TARP) , U.S. Treasury Secretary Henry Paulson said that purchasing troubled assets - the original intention of the $700 billion rescue package - is not an effective use of the program. "It...(read more)

Wednesday's Events: Paulson to Give TARP Update; Fed Speakers & Bond Auctions

CEP News Feed — Wed, 12 Nov 2008 14:32:14 GMT

Comments from the U.S. Treasury Department on the TARP Program , some Fed speakers, and bond auctions from Canada and the United States are the main highlights of the day's macroeconomic data docket. An update from U.S. Treasury Secretary Henry Paulson...(read more)

Fed's Lacker Says Slowing Economy May Lead to Further Credit Tightening

CEP News Feed — Mon, 03 Nov 2008 15:20:49 GMT

Richmond Federal Reserve Bank President Jeffrey Lacker said that slowing economic growth and weakening labour markets in the U.S. may prompt banks to further reduce their lending to consumer and firms, thus leading to further credit tightening. "The...(read more)

Fed's Yellen Says Rates Could Reach Zero in Weak Economy

CEP News Feed — Thu, 30 Oct 2008 20:25:57 GMT

San Francisco Federal Reserve President Janet Yellen said the Fed could lower rates below 1%, and that they could reach as low as zero amid a weak economy. Speaking at an event hosted by the University of California at Berkley and UCLA, Yellen said that...(read more)

FOMC Puts Risk on Downside Growth, Inflation Off Radar, Analysts Say

CEP News Feed — Wed, 29 Oct 2008 20:41:54 GMT

Economists say the unanimous FOMC decision to cut the Federal funds target rate by 50 basis points came as no surprise. Many said the statement is particularly dovish and points to further rate cuts come December 16. The accompanying statement said economic...(read more)

FOMC Unanimously Votes to Cut Target Rate 50 Basis Points to 1.00%

CEP News Feed — Wed, 29 Oct 2008 18:36:33 GMT

The Federal Reserve announced Wednesday that it would cut the Federal funds target rate by half a point, as widely expected, to 1.00% . The accompanying statement said economic activity had decreased markedly from a decline in consumer expenditure. In...(read more)

Fed Widely Expected to Cut Rates 50 Basis Points to 1.00%

CEP News Feed — Tue, 28 Oct 2008 18:09:24 GMT

It is widely expected that the Federal Reserve will cut the Fed funds rate by 50 basis points to 1.00% on Wednesday, the lowest level since June 2004. Fed watchers expect the vote to be unanimous and the accompanying statement to echo the "wait-and...(read more)

U.S. Will Spend up to $250 Billion on Equity Injections and Debt Guarantees

CEP News Feed — Tue, 14 Oct 2008 13:14:00 GMT

The U.S. Treasury will purchase as much as $250 billion in preferred shares of financial institutions , insure all non-interest bearing deposits and guarantee senior bank debt. The announcement came Tuesday in a joint statement from the Treasury, Federal...(read more)

Federal Reserve Cuts Rates 50 bps in Co-ordinated Central Bank Action

CEP News Feed — Wed, 08 Oct 2008 12:34:14 GMT

The Federal Reserve was among six major world central banks that delivered an inter-meeting 50 basis point cut to its overnight lending rate. The Fed cut its key rate 50 bps to 1.50%, citing weakening economic activity and a reduction in inflationary...(read more)