Fed’s Lacker: Rate Increase Likely Needed in 2013
The only member of the Federal Reserve’s policy-making committee to disagree on keeping the federal funds rate at near zero said a rate increase would likely be necessary sometime next year.
Jeffrey Lacker, president ...
Federal Reserve Launches Twitter Channel, Followers Surging
The Federal Reserve Board Wednesday launched its official Twitter channel – @federalreserve – furthering its new mission of greater accessibility and educating the public on its monetary policy and efforts ...
Fed’s Stress Tests: Citi, Ally, SunTrust, MetLife Didn’t Pass
The Federal Reserve said 15 of the 19 biggest U.S. financial institutions would be able to maintain capital levels higher than is deemed necessary in an economic scenario worse than the financial crisis of 2008.
The ...
Fed Keeps Rate at Near-Zero, Gas Prices ‘Temporary’ Issue
Concluding that gasoline prices will push up inflation only temporarily, the policy-making committee of the Federal Reserve today held the benchmark federal funds rate at zero to .25 percent “at least through ...
Fed Tests Big Banks on Scenario Worse Than 2008 Crisis
The Federal Reserve provided its worst-case scenario testing for the nation’s 19 largest banks today, a make-believe economic meltdown that exceeds the financial crisis of 2008.
On Thursday, the Fed will release ...
GDP Adjusted Up to 3% for 4th Quarter; Fed Sees Moderate Growth
The U.S. Commerce Department said real gross domestic product – the output of goods and services produced by labor and property – increased at an annual rate of 3.0 percent in the fourth quarter of 2011, compared ...
Bernanke: Community Banks Stronger, Shouldn’t Fear Dodd-Frank
Federal Reserve Chairman Ben Bernanke said the condition of community banks is improving, with profits rising overall over the last few quarters and loan quality stabilizing.
Speaking to a group of community banks ...
Fed: Capital One to be 5th Biggest by Deposits, 4th in Credit Cards
Capital One is poised to become the fifth largest U.S bank by deposits following the Federal Reserve approval of its $9 billion acquisition of the online banking business ING Direct.
Capital One is also positioning ...
Tight Mortgage Credit Keeps Grip on Potential Homebuyers
Since the peak of home loan availability in 2007, U.S. mortgage credit has contracted about 13 percent.
During most economic recoveries, mortgage credit begins to grow again four years after its peak – but not ...
Job Growth Surging – So is Fed’s Near-Zero Rate Justified?
The unemployment rate declined by 0.2 percentage point in January to 8.3 percent, the lowest level since February 2009 – the rate has fallen by 0.8 point since August.
Total nonfarm payrolls rose by 243,000 in ...
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