Buy Realty Stocks On Monday, Says Vishwas Agarwal Dec 21, 2008
It cut its target for the interbank federal funds rate to a range of zero to 0. 25%, a record low from 1% earlier. (TopNews)
Asian Currencies Post Weekly Gains as Stock Rally Draws Overseas Investors Dec 20, 2008
advanced this week after the Federal Reserve on Dec. 16 cut its federal funds rate to between zero and 0. 25 percent and said it will use all available tools to combat a recession in the worlds biggest economy. (Bloomberg -- Asia)
Zero Rates Could Save You Money Dec 20, 2008
The Tuesday decision to cut the federal funds rate from 1 percent to a target range between zero and 0. 25 percent, brought mortgage rates to record lows -- levels not seen in almost 50 years. (ABC News -- Business)
Record Low Mortgage Rates Toss Housing a Lifeline Dec 20, 2008
The decline was also the result of the Federal Reserve cutting its benchmark federal funds rate target to a record low this week. "Being baby boomers, we're looking down the road at retirement, and are making every effort to be as debt free as possible," Hennessy said. (ABC News -- Wire)
Treasurys Pull Back After This Week's Big Rally Dec 20, 2008
Earlier this week, the Federal Reserve slashed its federal funds rate target to a range of zero to 0. 25 percent, and said it was considering buying Treasurys outright in addition to mortgage-backed securities. (ABC News -- Wire)
Our View: Fed rate cut smells like desperation Dec 20, 2008
The announcement by the Federal Reserve Board last week that it has cut its benchmark overnight federal funds rate, the rate at which banks lend to one another, to a "target range" of between one-quarter percent and zero is both an acknowledgment of reality and a sign of panic. Since banks, even in the wake of huge infusions of capital from both the Treasury and the Fed, aren't lending much to each other, anyway, the effective interest rate was already close to zero. (Appeal Democrat, CA)
Local funds may push for a minor relief rally and rebound in the coming weeks Dec 20, 2008
On Tuesday, the Federal Reserve announced it was assaulting the recession with more potent ammunition than ever, including a cut in the federal funds rate to a historic low of zero to 0. 25. (The Star Online, Malaysia -- Business)
Trade and the world economy: Fare well, free trade Dec 19, 2008
Rich countries collectively face the severest recession since the second world war: this week s cut in the target for the federal funds rate to between zero and 0. 25% (see ) shows how fearful America s policymakers are. (The Economist)
No end to financial disorder Dec 19, 2008
If the way out of the stagflation of the 1970s required the federal funds rate to climb to 19%, would setting this rate at zero promise recovery and financial stability. That is a real dilemma. (Asia Times Online)
Dollar hits nearly 3-month low vs euro, yen tumbles Dec 19, 2008
The Fed on Tuesday cut its federal funds rate target to virtually zero. That contrasted with the more cautious approach of the European Central Bank, which recently hinted that it may not cut again in January. (India Times)
Mortgage rate drop drives refinancing; home sales may wait Dec 18, 2008
The Fed, aiming to free up lending and jolt the economy back to life, cut the federal funds rate Tuesday from 1 percent to a target range of zero to 0. 25 percent and pledged to keep funneling money into the market for mortgage investments. (Boston Globe)
No break seen on credit cards Dec 18, 2008
"The prime rate drop is probably a small dose of good news for cardholders," Ben Woolsey, director of marketing and consumer research at , said yesterday after the Fed slashed the federal funds rate to historic lows ... The lowering of the prime interest rate - which typically moves in tandem with cuts by the Fed in the federal funds rate - should soon trigger lower rates for home and car loans. (Boston Globe)
* Federal Reserve cuts rates, pledges stronger action Dec 18, 2008
The Fed announced that it was reducing its target for the federal funds rate to between zero and 0. 25 percent, down from 1 percent, a level that was already the lowest target rate in a half century. (Taipei Times, Taiwan)
Feds rate cut wont help most credit card users Dec 18, 2008
The lowering of the prime interest rate which typically moves in tandem with cuts by the Fed in the federal funds rate should soon trigger lower rates for home and car loans. The intent is to stimulate the flow of more cash into the economy, which could ultimately help reverse the downturn. (MSNBC -- Business)
Dollar holds above 70 US cents Dec 18, 2008
The US Federal Open Market Committee (FOMC) lowered the federal funds rate from 1% to what was described as a "target range'' of between zero and 0.25%. "It is a weak US dollar story,'' he said. Mr Morriss said the Australian dollar gained some momentum, breaking through 70. (Sydney Morning Herald -- Business)
US stocks drop in choppy trade Dec 18, 2008
On Tuesday, the Fed slashed its key federal funds rate to virtually zero for the first time and pledged extraordinary efforts to get credit flowing and stimulate the world's biggest economy, stuck in recession for the past year. Oil prices sank after a large increase in US reserves heightened global demand worries and eclipsed OPEC's announcement of a record production cut. (Sydney Morning Herald -- Business)
* US dollar at 13-year low against yen Dec 18, 2008
The Federal Open Market Committee in a statement said it expected to keep the federal funds rate exceptionally low for some time because of markedly declining inflationary pressures. With Japan in recession, the government made little secret that it would like the countrys own central bank to cut rates at its two-day meeting opening today. (Taipei Times, Taiwan -- World)
New Rules To Ease Credit Card Burdens Dec 18, 2008
The lowering of the prime interest rate - which typically moves in tandem with cuts by the Fed in the federal funds rate - should soon trigger lower rates for home and car loans. The intent is to stimulate the flow of more cash into the economy, which could ultimately help reverse the downturn. (CBS News -- US)
Rate Cut May Be Boost For Home, Car Buyers Dec 18, 2008
The Fed on Tuesday announced that it was reducing its target for the federal funds rate to between zero and 0 ... The Dow Jones industrial average had gained more than 4 percent Tuesday after the central bank lowered its federal funds rate target to a range of zero to 0. (KCRA 3, CA)
Signs point to a lighter mood among financial players Dec 18, 2008
(And this was before the U.S. Federal Reserve's stunning cut to a near-zero federal funds rate this week. . (Globe and Mail -- Business)
Shock-and-Awe Easing Dec 18, 2008
For starters, Bernanke stablished a new target range for the federal funds rate of zero-to-one-quarter percent. Thats right: zero-to-one-quarter percent. (Townhall.com)
Key Interest Rate as low as it can go Dec 18, 2008
REALTOR Magazine Online: The real estate professional's business support tool. YOUR INTERACTIVE MAGAZINE REALTOR.ORG/realtormag. (Realtor Magazine Online)
Fed Targeting Zero Isn't the Same as Doing Zip Dec 18, 2008
Specifically the Fed pledged to employ all available tools to rekindle economic growth and ward off deflation; to sustain its already bloated at a high level; to purchase large quantities of agency debt and mortgage-backed securities to support the housing and mortgage markets; and to maintain exceptionally low levels of the federal funds rate for some time. . (Bloomberg -- Columnists)
Wall Street flat a day after rate cut Dec 18, 2008
Economists had expected the Fed to cut the federal funds rate to 0. 5 percent from 1 percent but the central bank cut the target for overnight loans between banks to a range of zero to 0. (International Herald Tribune -- Money Report)
Dow retreats, First Solar leads AZ gains Dec 18, 2008
25 percent for its federal funds rate. Major economic news Wednesday included another dip in U.S. oil prices to about $40 a barrel, down from a record of more than $140 earlier this year. (Phoenix Business Journal, AZ)
Wall Street dips after previous big rally Dec 18, 2008
The Dow Jones industrial average rose more than four percent on Tuesday and other indexes gained more than five percent, as the Federal Reserve cut its federal funds rate target to a range of zero to 0. 25 percent. (Xinhuanet, China)
Why a Zero Percent Interest Rate Probably Won\'t Work Dec 18, 2008
The federal funds rate is the amount of interest banks charge each other for overnight lending ... If the federal funds rate is low, the cost to banks of lending to one another, and therefore to players in the larger economy, is reduced ... Strictly speaking, the Fed doesnt control the federal funds rate; it can only influence it. (Slate)
Markets slightly higher in early trade Dec 18, 2008
HwangDBS Vickers Research said after the initial reaction from the deeper-than-expected cut in the federal funds rate by the US Federal Open Market Committee two days ago, investors focus would probably shift back to whether the slew of initiatives already taken so far (and what additional tools more that are available to the policymakers) would be adequate to reverse the falling fortunes of the global economy ahead. At home, the benchmark KLCI is expected to zigzag sideways around the 860-mark... (The Star Online, Malaysia -- Business)
Honda cuts annual profit forecast on lower demand Dec 18, 2008
Japanese carmakers are being punished especially hard by a robust yen, which is approaching 88 yen to the dollar after the US Federal Reserve took the historic move of cutting its federal funds rate target to a range of zero to 0. 25. (The Star Online, Malaysia -- Business)
More Americans hurt by downturn Dec 17, 2008
The Federal Reserve yesterday cut its target for the federal funds rate to a range of zero to 0. 25 percent, the lowest on record. (Huntington WSAZ-TV, WV)
Latest cut takes key rate as low as it goes Dec 17, 2008
The Fed yesterday cut its federal funds rate, which banks charge each other for overnight loans, from 1 percent to a range between zero and 0. 25 percent, the lowest on record. (Boston Globe)
A global trade decline? Dec 17, 2008
The US Federal Reserve moved Tuesday to lower the federal funds rate, the short-term lending rate for banks, to a target range of 0 to 1/4 percent. Citing a weak job market, the Fed said conditions "warrant exceptionally low levels of the federal funds rate for some time," as well as other measures designed to restore normal growth. (Christian Science Monitor -- USA)
Paulson: Banks Safe From Further Collapse Dec 17, 2008
Federal Reserve Chairman Ben Bernanke and his colleagues said they anticipate that "weak economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time" as they struggle to contain a financial crisis that is the worst since the 1930s and a recession that is already the longest in a quarter-century. The central bank is moving into uncharted territory with this newest rate cut. (KSBW 8, CA)
Recent Fed Rate Cuts Impact Prime R... Dec 17, 2008
Recent Fed Rate Cuts Impact Prime Rate: Federal Reserve Announcement - Reduced Target Federal Funds Rate ... Federal Reserve Announcement - Reduced Target Federal Funds Rate ... Definitions of federal funds rate rate. (Suite101.com)
US inflation falls still further Dec 17, 2008
Later on Tuesday the Federal Reserve is widely expected to cut its key federal funds rate, already at a low of 1%, by another half percentage point in an effort to keep the recession from worsening. Bookmark with. (BBC News -- Americas)
What zero percentage rates mean Dec 17, 2008
No. Pushing the federal funds rate down to zero doesnt mean everything comes with zero-percent financing. It means banks can now raise cash for very short periods without paying interest. (MSNBC -- Race)
Consumer Prices Drop Record 1.7 Percent Dec 17, 2008
Economists expect the central bank to cut the federal funds rate, already at a low of 1 percent, by another half-point in an effort to keep the recession from worsening. Consumer prices, an inflation barometer, last month fell by the largest amount on records going back 61 years as energy costs posted nearly double the decline of the previous month, the Labor Department reported Tuesday. (ABC News -- Business)
Saved by Zero? Fed Slashes Key Rate Dec 17, 2008
But the Fed's emphasis on its other tools -- lending and loan-buying programs -- echoed what economists had been saying before today's announcement: that the Fed's ability to set the key federal funds rate -- once the Fed's main instrument for -- is now overshadowed by its expanding lending powers ... "The Fed has moved to what they call quantitative easing policies, which is generally defined as anything other than [changing] the Federal Funds rate," said David Wyss, managing director and chief... (ABC News -- Business)
New Home Starts Fall by Most in 20 Yrs Dec 17, 2008
Economists expect the central bank to cut the federal funds rate, already at a low 1 percent, by another half-point in an effort to keep the recession from worsening. Builders, meanwhile, continue to be discouraged by the prospects of a housing turnaround. (ABC News -- Business)
Fed Cuts Rates to Record Low Dec 17, 2008
In a surprise and historic move, the Fed lowered its target for the interbank federal funds rate to a range of zero to 0. 25 percent, a record low, from 1. (ABC News -- Wire)
Crude oil gains ahead of OPEC output cut Dec 17, 2008
The US central bank lowered its target for the interbank federal funds rate to a range of zero to 0. 25%, a record low, from 1%, and said it was willing to keep rates low for an extended period. (India Infoline.com)
Central bank in uncharted territory Dec 17, 2008
We're in a change in regime in terms of policy, where the focus is switching away from the federal funds rate to other actions the Fed can take with its balance sheet to improve financial conditions and encourage the flow of credit, said former Fed Gov. Laurence Meyer, now vice chairman of Macroeconomic Advisers. With short-term interest rates already close to zero, the Fed has been moving to a strategy known as quantitative easing essentially dumping money into the economy to make... (MSNBC -- Business)
Dollar closes higher on US rate cut Dec 17, 2008
The US Federal Open Market Committee (FOMC) lowered the federal funds rate, the rate banks lend to each other, from 1% to what was described as a "target range'' of between 0 and 0.25%. At the close, the dollar was trading at 69.83 US cents, up from Tuesday's close of 66.98 cents. During the day, the local unit traded between a morning low of 69.07 US cents and a late afternoon high of 70.19 cents. The local currency last touched 70 US cents on October 20 this year. The US Federal Reserve's... (Sydney Morning Herald -- Business)
Japan rate cut tipped as recession deepens Dec 17, 2008
The Fed yesterday said it will target a federal funds rate of between zero and 0. 25% in an unprecedented move, causing the US dollar to fall as low as 88. (Sydney Morning Herald -- Business)
Fed reduces benchmark rate to as low as zero Dec 17, 2008
The federal funds rate is the interest that banks charge each other for overnight loans. The radical action underscores the breathtaking deterioration in the U.S. economy and the stability of the financial system this fall, and even since Fed policymakers last gathered in late October. (AZCentral -- News)
Wall Street rallies on Fed's rate cut Dec 17, 2008
In a unanimous vote, the Fed made a larger-than-expected cut to the benchmark federal funds rate by at least three-quarters of a percentage point to a target range of zero to 0. 25 percent from its current 1 percent. (India Times)
Dollar tumbles to 13-year low against yen after Fed cut Dec 17, 2008
The Fed lowered its target federal funds rate from 1 ... The Federal Open Market Committee in a statement said it expected to keep the federal funds rate "exceptionally low" for some time because of markedly declining inflationary pressures. (India Times)
U.S. stocks soar as Fed cuts rate to lowest level ever Dec 17, 2008
While the cut in the federal funds rate from 1 percent was widely expected, investors had not expected such a drastic move ... "In particular, the committee anticipates that weak economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time. Stock prices climbed across the board, led by financial and transportation companies, as investors cheered the Fed's latest attempt to loosen credit and stanch one of the worst economic downturns since the Great... (International Herald Tribune)
Fed drives benchmark rate to rock bottom Dec 17, 2008
The Fed slashed its benchmark federal funds rate to a target of zero to a quarter per cent and vowed to keep it there for some time. That's down from the current record low of 1 per cent, and assures that banks will have access to cheap credit for an extended period. (Globe and Mail)
Fed tries again Dec 17, 2008
FEDERAL FUNDS RATE: Rate banks charge one another for very short-term loans; it affects rates that banks charge when they lend and interest they pay on deposits. DISCOUNT RATE: Rate banks pay Fed for short-term loans; it is usually adjusted with federal funds rate ... PRIME RATE: Rate banks charge their best customers; it moves with federal funds rate; most bank credit card rates and home equity lines of credit are pegged to the prime rate. (Modesto Bee, CA)
As Fed slashes rates, locals hope it will spur home sales Dec 17, 2008
The central bank cut its federal funds rate down from one percent, to a range of between zero and 0. 25 percent. (WWLTV.com, LA)
Canadian Stocks Rally on Fed Rate Cut, Led by Potash, EnCana and Manulife Dec 17, 2008
25 percent and said that weak economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time. The bank will also use all available tools, including the possible purchase of longer-term treasury bonds, to bolster growth. (Bloomberg -- Canada)
Fed drives benchmark rate to rock bottom Dec 17, 2008
The Fed slashed its benchmark federal funds rate to a target of zero to a quarter per cent and vowed to keep it there for some time. That's down from the current record low of 1 per cent, and assures that banks will have access to cheap credit for an extended period. (Globe and Mail -- Business)
Bernanke is keen to not repeat past errors Dec 17, 2008
That was clear to everyone yesterday, when the Federal Open Market Committee slashed the target for the federal funds rate to a range of 0 to 0. 25 per cent, down from 1 per cent, and vowed to employ all available tools to promote the resumption of sustainable economic growth and to preserve price stability. (Globe and Mail -- Business)
Fed cuts interest rate Dec 17, 2008
The Federal Reserve has cut its target for the federal funds rate to between 0 and 0 ... Banks use the federal funds rate to determine the interest they charge on overnight loans to each other. (Sacramento Business Journal, CA)
Hong Kong lowers benchmark lending rate Dec 17, 2008
The monetary authority sets its base rate through a formula that includes the U.S. federal funds rate. . (International Herald Tribune -- Business)
Fed vows to pump life into the economy Dec 17, 2008
The Federal Open Market Committee action adjusted the target for the federal funds rate from 1 percent to between zero and. 25 percent, unusual in that the panel typically cites a specific percent and not a range. (Pittsburgh Post-Gazette, PA)
Fed Sets Key Rate Near Zero, Seeks Debt Dec 17, 2008
Officials also signaled a new phase for policy in which lending programs financed by the Fed's ballooning balance sheet, a process known as quantitative easing, replace the federal funds rate as the Fed's primary policy tool ... "The Committee anticipates that weak economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time," the Fed said, adding it will "employ all available tools" to promote growth and maintain price stability. (SmartMoney)
Fed cuts interest rates to near zero to combat economic recession Dec 17, 2008
In a statement announcing its actions, the central bank's policymaking Federal Open Market Committee, which was unanimous in its decision, said the job market, business and consumer spending and manufacturing had all weakened since its Oct. 29 meeting, while inflation pressures "diminished appreciably. It promised to do whatever it takes to support the economy. Q&A: FED STATEMENT: STOCKS RISE: "The Federal Reserve will employ all available tools to promote the resumption of sustainable economic... (USA Today -- Money)
The End of the Fed as We Know It Dec 17, 2008
The Fed went further than many expected and cut its target for the overnight federal funds rate from 1 percent to a range of zero to 0 ... For weeks, the federal funds rate has been trending far below the 1 percent target. (Slate)
Fed reduces benchmark rate to as low as zero Dec 17, 2008
The federal funds rate is the interest that banks charge each other for overnight loans. The radical action underscores the breathtaking deterioration in the U.S. economy and the stability of the financial system this fall, and even since Fed policymakers last gathered in late October. (The Star Online, Malaysia -- Business)
Fed ready to slash rates amid deepening recession Dec 17, 2008
In its battle against a recession that started last December, the Fed already has cut the target for the federal funds rate, its main tool for influencing economic activity, to 1 percent, a level seen only once before in the last half-century. Many economists predict the Fed will cut the funds rate in half to just 0. (Havre Daily News, MT)
Rate cut drives Cincinnati stocks to gains Dec 17, 2008
The Federal Reserve slashed its key federal funds rate at which banks lend money overnight to each other to a range of zero to 0. 25 percent. (Cincinnati Business Courier, OH)
Paulson: We Have Plenty of Firepower Dec 17, 2008
The committee anticipates that weak economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time, the statement said. 2008 Newsmax. (Newsmax)
Fed cuts interest rate Dec 17, 2008
The Federal Reserve has cut its target for the federal funds rate to between 0 and 0 ... Banks use the federal funds rate to determine the interest they charge on overnight loans to each other. (Charlotte Business Journal, NC)
