The fed is working on, what amounts to the biggest bail out for banks in over a decade. With AIG, Lehman Brothers, Merrill Lynch, Morgan Stanley, Washington Mutual all falling prey to their own practices and a panic stricken economy, the fed and treasury have come together with separate measures to help struggling banks.
The Treasury [...]
All Posts Tagged With: "Federal Reserve"
Biggest bank bail out in decades
Fed keeps interest rates unchanged, market’s rally
The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent. According to the press release, Economic activity expanded in the second quarter, partly reflecting growth in consumer spending and exports. However, the committee echoed concerns over a softening labor market.
The unemployment rate for July rose to [...]
[Updated] Banks borrowed record $17.45b per day from Fed
As the credit crisis continues to affect economy, banks have been relying more and more on Federal Reserve for funds. According to the data release by Fed on Thursday, banks borrowed at the rate of $17.45 billion per day in the latest week, a record figure surpassing last week of record borrowing at the rate [...]
July 31st, 2008 | supa | Comments | ContinuedJune Inflation double that of May, 2008 energy index up 29%!
According to the Department of Labor Consumer Price Index (CPI) numbers for June, prices increased 1.1 percent for the month of June compared with 0.6 percent for May - almost double. The index for energy rose sharply for the second straight month, increasing 6.6 percent in June following a 4.4 percent increase in May. The [...]
July 16th, 2008 | rp | Comments | Continued
