The Obama administration on Monday will formally unveil a program to help banks clean up their books by subsidizing private investors' purchase of troubled assets.
When the Federal Reserve announced last week it was buying $300 billion in long-term Treasury notes, the move was viewed as one of the safer bets the central bank has made recently.
Oil prices fell Friday but managed to close above $50 a barrel for the second day in a row as investors mulled the trillion dollar U.S. plan that is aimed at thawing credit markets.
Treasury prices fell Friday as investors stepped back from a recent runup to mull the Federal Reserve's plan to buy $300 billion of government bonds - a move the central bank has hinted at for months.
Federal Reserve Chairman Ben Bernanke responded to ongoing criticism of the government's efforts to keep alive institutions it has deemed "too big to fail," saying that this is an "enormous problem" that needs to be addressed.
The dollar rebounded broadly on Friday, but was still set for its biggest weekly percentage drop in almost a quarter of a century as dust settled from the Federal Reserve's plans to buy long-term government debt.
Oil hovered above a four-month high on Friday at $52 a barrel, recouping earlier losses as the market sought a new base above $50 and after news of a ship collision in the key Strait of Hormuz shipping lane.
The G-20 meeting in London, England, on April 2 will be watched by the entire world with urgency and with a yearning for hope, vision and programmatic clarity.
Mortgage interest rates are already flirting with record lows and the Federal Reserve's move to buy up government debt will send those rates even lower. But it doesn't look like it will get any easier for borrowers - even those with good credit.
The U.S. Federal Reserve Thursday expanded its consumer and small business lending program to include securities backed by mortgage servicing advances and floor-plan loans in April.
The Obama administration on Monday will formally unveil a program to help banks clean up their books by subsidizing private investors' purchase of troubled assets.
When the Federal Reserve announced last week it was buying $300 billion in long-term Treasury notes, the move was viewed as one of the safer bets the central bank has made recently.
Oil prices fell Friday but managed to close above $50 a barrel for the second day in a row as investors mulled the trillion dollar U.S. plan that is aimed at thawing credit markets.
Treasury prices fell Friday as investors stepped back from a recent runup to mull the Federal Reserve's plan to buy $300 billion of government bonds - a move the central bank has hinted at for months.
Federal Reserve Chairman Ben Bernanke responded to ongoing criticism of the government's efforts to keep alive institutions it has deemed "too big to fail," saying that this is an "enormous problem" that needs to be addressed.
The dollar rebounded broadly on Friday, but was still set for its biggest weekly percentage drop in almost a quarter of a century as dust settled from the Federal Reserve's plans to buy long-term government debt.
Oil hovered above a four-month high on Friday at $52 a barrel, recouping earlier losses as the market sought a new base above $50 and after news of a ship collision in the key Strait of Hormuz shipping lane.
The G-20 meeting in London, England, on April 2 will be watched by the entire world with urgency and with a yearning for hope, vision and programmatic clarity.
Mortgage interest rates are already flirting with record lows and the Federal Reserve's move to buy up government debt will send those rates even lower. But it doesn't look like it will get any easier for borrowers - even those with good credit.
The U.S. Federal Reserve Thursday expanded its consumer and small business lending program to include securities backed by mortgage servicing advances and floor-plan loans in April.
Treasury prices eased Thursday as investors responded to the Federal Reserve's plan to buy $300 billion in long-term government debt and braced for next week's auctions.
The Federal Reserve's latest program to buy massive amounts of government debt could provide a helping hand to the economy - but not so much for bankers.
Gold jumped to a near three-week high on Thursday as the dollar tumbled and inflation concerns flared after the Federal Reserve unveiled plans to spend $300 billion on long-dated Treasurys.
A index forecasting economic activity fell in February, ending two months of surprise increases, after the government took action to inject money into the ailing financial system.
A U.S. government plan to buy up its own debt continued to plague the dollar Thursday, and experts say the free-fall could last a long time.
Stocks rallied Wednesday, posting gains for their sixth of seven sessions, after the Federal Reserve said it would buy up to $300 billion in long-term government bonds.
Treasury prices surged Wednesday, after the Federal Reserve said it would buy up to $300 billion in long-term Treasurys - a move the central bank has hinted at for months.
The Federal Reserve announced Wednesday it would buy $300 billion of long-term Treasurys over the next six months in order to try and get credit flowing more freely again.
The U.S. dollar plummeted Wednesday, hitting a 2-month low against the euro, after the Federal Reserve said it would take aggressive actions to stimulate the economy.
The government's efforts to tame the credit crisis faces one of its biggest tests yet as the Federal Reserve finally launches a $1 trillion program aimed at reviving lending for both consumers and business.
The following statement was posted on the Federal Reserve Web site on March 18, 2009:
The World Bank cut China's economic growth forecast in 2009 to 6.5 percent Wednesday, down a full percentage point from November's projection.
Treasurys retreated Tuesday, with the yield on the 10-year note rising above 3%, as stocks rallied in New York.
Stocks finished lower Monday, ending a 4-session winning streak, as tech selling countered a bank share-led rally.
The dollar hit a five-week low against the euro Monday as gains in European stocks signaled investors' willingness to take on more risk.
It is axiomatic that to solve a problem, one must first understand it. To that end, I have devoted my spare time in recent months to studying our financial crisis - unearthing its root causes, delving into its manifold consequences and pondering its far-reaching implications.
AIG gave in to demands from Congress Sunday, naming the banks that pocketed billions of dollars last fall as part of a federal bailout of the troubled insurer.
Federal Reserve Chairman Ben Bernanke said on Sunday that government officials are laying the groundwork for an economic revival and that a "depression" can be avoided - acknowledging however that a full recovery will take time and that there are still obstacles.
The Chinese are getting nervous about buying U.S. Treasurys. Does that mean it's time for the Federal Reserve to start buying long-term notes?
Investors return to work on the back of Wall Street's best week in months - and that's both a good and bad thing.
Midway through his first 100 days in office, President Obama sought to convey a more confident message about the nation's long-term economic prospects and rally support for his budget proposal.
The nation's trade deficit narrowed 9.7% in January, shrinking to its smallest gap in 6 years, according to government data released Friday.
Japan's economy shrank more than 12 percent during the final three months of 2008, the government said on Thursday.
Federal Reserve chairman Ben Bernanke said Tuesday that economic recovery hinges on stabilizing the financial system, and proposed new policies aimed at absorbing financial shocks in the future.
When people talk about rampant job losses, it's usually in the sense of unemployment as a symptom. But in fact, unemployment can be an aggravating cause of the financial crisis as well, especially when it's as severe as we're seeing now.
The exit ramp that Ben Bernanke was looking for Saturday had only a little to do with getting the U.S. economy back on the road to recovery.
We want to know why the Federal Reserve is helping insurance giant AIG keep its secrets.
If you're saving for a retirement decades away, Thursday's big drop in the stock market shouldn't worry you too much.
The European Central Bank and the Bank of England both cut their key interest rates to historic lows on Thursday in a bid to revive their ailing economies.
Treasurys rose Thursday as grim economic and corporate news sent stock prices sharply lower.
Officials shouldn't reveal which Wall Street firms pocketed billions of dollars in the government's bailout of AIG, a top Federal Reserve official said.
U.S. economic conditions worsened in January and February, and businesses do not expect improvement until late this year or early 2010, a Federal Reserve survey published on Wednesday said.
Recent U.S. economic data has been grim, and financing strains in the commercial real estate sector could heap pressure on the country's already battered banks, a top Federal Reserve official said Wednesday.
Congress needs to create a systemic risk regulator to monitor the safety and soundness of the nation's entire financial system, corporate governance experts told lawmakers Wednesday, but they disagreed on who should be given that responsibility.
The U.S. Federal Reserve and Treasury on Tuesday extended a new securities loan program to include equipment and vehicle fleet leases and said a future expansion to $1 trillion may also include some of the riskier mortgage and debt securities now plaguing banks.
The Federal Reserve's new long-run forecasts should help keep inflation expectations anchored at a time when a decline would be "most unwelcome," San Francisco Fed President Janet Yellen said Friday.
U.S. consumer confidence fell to a three-month low in February on expectations the recession would grind on throughout this year and the jobless rate will keep rising, a survey showed Friday.
Q. I worry that the Fed pumping money into the economy could cause high inflation. Does investing in gold provide good protection? - Vikas Mehta, Herndon, Va.
Everybody is feeling the pain of this recession and bear market. But older Americans, especially those living on fixed incomes, are really getting squeezed. And it's not fair.
The Federal Reserve issued new economic forecasts Wednesday afternoon. To nobody's surprise, the central bank's outlook for 2009 is gloomier than before: it expects the economy to shrink by as much as 1.3% and the unemployment rate to climb as high as 8.8%.
The economy stinks, and the Federal Reserve wants to tell you all about it.
Last week, Obama told an audience in Florida that if his economic recovery plan does not work, "then you'll have a new president."
The tool of choice for central banks to help an ailing economy has traditionally been to bring down short-term interest rates. The Federal Reserve is no exception. But having already pursued that approach aggressively, and seemingly exhausted it by driving the overnight interbank rate down to nearly zero, the question now at hand is whether the Fed has any more weapons in its arsenal.
The Obama administration and the Federal Reserve unveiled a $1 trillion program on Tuesday aimed at revitalizing lending to consumers and businesses.
Federal Reserve chairman Ben Bernanke was questioned by lawmakers from both parties Tuesday about whether the Fed should continue to have as much broad powers over the economy.
There's an interesting battle royale going on in the Treasury market.
The Bank of England reduced interest rates by 0.5 percentage points Thursday to 1 percent, the lowest-ever level.
Credit continued to remain tight at the nation's banks during the final three months of 2008, according to a report published Monday by the Federal Reserve. But a smaller percentage of institutions toughened their lending standards.
Punxsutawney Phil saw his shadow this morning. Does that mean another six weeks of horrific stock-market losses? The worst January for stocks in history is over. But so far, February is looking no different, with the Dow and S&P 500 each falling about 1% early Monday morning before recovering as the trading session wore on.
The U.S. economy suffered its biggest slowdown in 26 years in the last three months of 2008, according to the government's first reading about the fourth quarter released Friday.
Businesses largely moved out of a Federal Reserve lending program this week, signaling a shift in how companies are choosing to borrow money.
Mortgage rates fell over the past week, benefiting from the Federal Reserve's pledge to take all necessary action to stimulate the economy.
Treasury prices fell Thursday as the government continues to auction record amounts of debt and as investors consider whether or not the Fed will eventually buy longer dated securities.
Should the Federal Reserve start buying up long-term Treasury bonds?
The Russians are upset that the U.S. dollar is the world's principal reserve currency, and this week in Davos they have been putting forward suggestions for how to fix the issue. First came Prime Minister Vladimir Putin, who called in a speech on Wednesday for efforts to "facilitate the emergence of several reserve currencies."
Stocks surged Wednesday as investors took comfort in reports that the Obama administration and the Federal Reserve are taking steps to get credit flowing again and help staunch the economic slowdown.
The dollar rose against major currencies Wednesday after the Federal Reserve announced it would hold rates steady near 0%.
The Federal Reserve kept its key interest rate near 0% Wednesday, and said it is prepared to take additional steps to try to fix the troubled U.S. economy and credit markets.
Government debt prices extended declines Wednesday after the Federal Reserve said it is prepared to buy long term Treasurys but did not offer the specific details that many investors were looking for.
The following statement was posted on the Federal Reserve Web site on January 28, 2009:
The Federal Reserve wraps up its two-day meeting about what to do with interest rates Wednesday afternoon. But that's probably two more days than the central bank needed.
President Obama told Republican House leaders Tuesday he plans to stand firm on the part of his $825 billion economic recovery plan that calls for tax rebates for nearly all working Americans -- including those who make too little to owe income taxes.
As required by the federal bailout law, the Federal Reserve will look to prevent foreclosures by modifying the terms on certain delinquent loans, lawmakers said Tuesday.
Treasurys rallied Tuesday after a record 2-year note auction attracted more bidders than available notes.
The Board of Directors of the Federal Reserve Bank of New York appointed William C. Dudley as its new president, according to a statement from the district central bank released Tuesday.
Investors this week will face the largest batch of company report cards yet, in what is quickly shaping up to be the worst quarter for corporate profits in a decade.
The Federal Reserve has a two-day meeting next week to discuss what to do with interest rates. That's two days more than the central bank needs.
Rarely has the potential for lower prices been so scary.
Under normal circumstances, the election of Barack Obama would have meant a lot for your wallet. As a candidate, Obama promised to shift the burden of taxes toward the affluent, get health coverage to the uninsured and slap tougher regulations on financial products.
Government debt prices rose Wednesday amid a raft of grim economic news, ongoing concern about the financial services sector and comments from a top Fed official suggesting the central bank could buy long-term Treasurys.
Economic weakness continued to spread across the nation as real estate markets remained in distress and consumers kept their pocketbooks closed, according to the latest Federal Reserve report on regional economic conditions.
The dollar rallied against major currencies Tuesday as investors sought safety in the U.S. currency after Fed Chairman Ben Bernanke said Wall Street may need additional bailouts.
Federal Reserve Chairman Ben Bernanke said Tuesday that President-elect Barack Obama's proposed fiscal stimulus package could help the economy, but he added that additional bailouts of financial institutions may also be needed to bring about a sustained economic recovery.
This is obviously a terrible time for the economy. For that reason, it made sense for the Federal Reserve to slash interest rates near zero last month.
The Federal Reserve has "ample scope" to aid an extremely weak U.S. economy and could hold interest rates near zero for the rest of 2009 or longer if needed, one of its top policymakers said on Monday.
The Bank of England has cut UK interest rates to their lowest-ever level, the bank announced Thursday, trimming them to 1.5 percent.
The U.S. economy is likely to deteriorate further this year and unemployment will rise into 2010, according to the latest forecasts from the staff of the Federal Reserve.
Sitting down? It's time to tally up the federal government's bailout tab.
With a new year of recession-fighting upon us, it's a fitting time to do a performance evaluation of America's policymakers. How well did they handle a true crisis? The credit-market crisis that erupted in early September has been aptly described as a once-in-a-lifetime event that quickly reverberated through the global financial system, bringing it uncomfortably close to a complete meltdown. Along the way, it wreaked havoc with economic growth, throwing most of the industrialized economies into a deep recession.
If the story of 2008 was the government's unprecedented multi-trillion dollar bailouts of the financial sector, then the credit market was the story behind the story.
The Federal Reserve on Wednesday opened the door for GMAC to get federal bailout money by granting the troubled General Motors finance arm status as a bank holding company.
Here's hoping that 2009 is a better year than 2008. It's hard to imagine how it could be much worse.
Stocks capped a rocky week on a mixed note Friday, as investors weighed the pros and cons of the Bush Administration's plan to bail out the auto industry.
Government debt prices were just off record highs Friday, with yields still hovering near record lows, as the Bush administration finally granted the auto industry the bailout it was waiting for.
The U.S. dollar rallied against other major currencies Friday after a $13.4 billion auto bailout gave investors confidence about preserving their capital in U.S. Treasurys, which they need dollars to buy.
A selloff on Wall Street accelerated in the last hour of a volatile session as traders square up positions for a handful of options that expire Friday, known as "quadruple witching."
Cash-strapped consumers got some welcome news on Thursday when regulators voted to rein in controversial credit card practices. But they'll have to wait another year and a half to get relief - the new rules won't take effect until July 1, 2010.
The U.S. dollar gained strength against major currencies Thursday as economic worries about the state of the global economy persisted and the number of U.S. workers filing for first-time unemployment benefits fell more than expected.
Prices for U.S. Treasurys rose Thursday, pushing yields to record lows, as investors respond to aggressive new moves by the Federal Reserve.
The Federal Reserve may have cut its key short-term interest rate to the lowest level on record, but that doesn't mean credit will be any easier to get.
| Most Viewed | Most Emailed | Top Searches |
| Most Viewed | Most Emailed | Top Searches |
Video
