federal reserve

Anti-Reform Ad Looks Like A Dirty Trick

Talk about cynical.
A shadowy special interest group is trying to turn consumer anger at big banks into anger against new federal regulations intended to protect us from another financial crisis.
The ad claims that the “Big Bank Bailout Bill” amounts to a “new $4 trillion bailout for banks.”
Of course the Wall Street Reform and Consumer Protection [...]

Federal Reserve Report Shows Consumers Are Addressing Personal Debt

A Federal Reserve Report put out late last month shows that consumers have been turning around their savings habits and reducing their reliance on credit over the last year. But what effect will this have on the economy?
Savings vs.

Citibank Notice Highlights Fed Rule that Could Limit Your Access To Money

A letter sent out to Citibank customers this month has said that starting April 1st, the bank may reserve the right to require a seven day advance notice on withdrawals from checking accounts.

New Reminder, Old Policy

CD Rates Continue Long Slide In February

Most CD rates declined for the 16th straight month as the Federal Reserve stood by its policy to hold interest rates at record lows for the foreseeable future.
Four of the five certificates of deposit we track finished February lower than they were at the end of January.
The only exception was 5-year CDs, whose average [...]

Ben Bernanke’s Testimony on Monetary Policy Leads to Market Jump

When Ben Bernanke speaks, it seems the markets stop to listen. That is what happened today as the dollar slid, but stock markets increased slightly as the Fed Chairman’s gave his semi-annual testimony in front of the Congressional Committee of Financial Services.
Ben S. Bernanke
Interest Rates Remain Low

Unemployment Claims and Inflation Rate Both Increase In February

The economy took on a double hit this week, with unemployment insurance claims rising as well as a sight price inflation despite the extraordinarily low interest rates being held by the Fed.

Unemployment Higher Than Expected
According to a report by the Department of Labor, adjusted initial unemployment insurance claims jumped 31,000 last week, up to 473,000. This exceeds market estimations of 430,000 that were made for this week. The fiscal year-to-date average for total adjusted insured unemployment is currently 5.24 million.

Pew Research Shows Credit CARD Act Will Save Consumers Billions

American credit cardholders are in for a treat this month, with the Credit Card Accountability Responsibility and Disclosure (CARD) Act going into effect on February 22. Research by the Pew Charitable Trusts shows that the changes made by this Act could save consumers billions of dollars through its restrictions on fees and rate changes.

A Three Phase Plan

Bernanke’s plan to raise rates — someday

Ben Bernanke has unveiled his plan for unwinding the Federal Reserve’s economy-boosting policy that’s driven interest rates to record lows.
When the Fed Chairman might set that plan into motion remains a mystery.
Economists who thought June might be a good guess are now saying November or even next year since he seems determined to hold interest [...]

Federal Reserve to Drain $1 Trillion in Excess Reserves, Could Raise Interest Rates Soon

Interest rates may be going up for the first time since June of 2006, say sources close to the Federal Reserve. A report from Bloomberg news claims that the Fed is looking to money-market mutual-funds to drain up to $1 trillion from the financial system.
Money-Market Mutual-Funds

CD Rates Fall For 15th Straight Month

The Federal Reserve has just reiterated its determination to keep interest rates at record lows until the economy is not just growing, but creating enough jobs to drive the unemployment rate down.
With more than 15 million Americans out of work, we understand that the country can’t afford another jobless recovery like the ones that [...]

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