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A collection of news and information related to Federal Reserve published by Tribune Company sources.
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30-year mortgage rates are at historic low
WASHINGTON Rates on 30-year mortgages fell to a record level for a fourth straight week, dropping to the lowest mark since Freddie Mac started tracking the data nearly 28 years ago. Rates have been falling since late November, when the Federal Reserve...Tags: Freddie Mac, Mortgages
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Consumer borrowing hits a 65-year low
Consumers cut back on their borrowing by a record amount in dollar terms in November, another sign of trouble for the rapidly weakening economy. The Federal Reserve reported yesterday that borrowing on credit cards, and for such things as auto loans,...Tags: Consumers, Credit and Debt
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More people collecting unemployment benefits
The number of Americans collecting unemployment benefits surged to a 26-year high as the labor market worsened. Initial jobless claims unexpectedly fell by 24,000, to 467,000, in the week that ended Jan. 3, the lowest level in almost three months, the...Tags: Unemployment
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Rates drop to 5.01% on 30-year mortgages
Rates on 30-year mortgages fell to a record level for a fourth straight week, dropping to the lowest mark since Freddie Mac started tracking the data nearly 28 years ago. Rates have been falling since late November, when the Federal Reserve announced a...Tags: Freddie Mac, Financial and Business Services, Mortgages
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Bank of Korea cuts key interest rate to record low 2.5 percent to boost economy
AP Business WriterSEOUL, South Korea (AP) — South Korea's central bank cut its key interest rate Friday for the fifth time in just three months to help shore up the country's sagging economy. The Bank of Korea lowered the benchmark seven-day repurchase rate to a new...Tags: Financial Markets, Central Bank, Money and Monetary Policy, Economic Policy
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Briefing
CITIGROUP AGREES TO LET JUDGES ALTER HOME LOANS | Democratic lawmakers have reached a deal with Citigroup Inc. on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures and urged other lenders to follow suit. The...Tags: Prosecution, Citigroup Incorporated, Corporate Crime, Barack Obama, Employees
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Finding New Job Gets Tougher As Layoffs Mount
Associated PressThe number of laid-off workers who are continuing to draw unemployment checks jumped more than expected, to 4.6 million at the end of December, and is likely to keep climbing this year — fresh evidence that people are finding it increasingly...Tags: Public Finance, Layoffs and Downsizing, Barack Obama, Real Estate Buyers, Job Layoffs
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Madoff case one more clan problem
American Jews are watching the Bernard Madoff case closely. Their concern, spoken or not, is that there is something about the Madoff scandal that will be perceived as inherently Jewish. Perhaps only the intimate Jewish culture, whose members work,...Tags: Christianity, Stock Broking, Corporate Crime, Securities, SEC
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Stop governing credit like it's 1799
The current financial crisis is as modern as it comes: Global mega-banks are trading options and derivatives at lightning speed. Yet, the law of consumer finance governs like it's the 1700s. Nearly all of our consumer safety laws are founded on the...Tags: Consumer Confidence, Personal Finance, Money and Monetary Policy, Regulatory Policy and Organizations, Credit and Debt
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Bank of England cuts interest rate to record low
The Bank of England slashed its benchmark interest rate to an all-time low Thursday in an aggressive bid to shore up an economy battered by recession and the global credit crunch. The new rate of 1.5%, down half a percentage point, is the lowest in the...Tags: Consumer Confidence, Marks & Spencer Limited, Prices, Central Bank, Money and Monetary Policy
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Consumers strangely more upbeat: Gallup
The Swampby Frank James There's been precious little good economic news lately. But that somehow hasn't kept consumer sentiment from improving recently according to Gallup's pollsters. As Gallup reports: Consumer expectations are getting a little better as the new...Tags: National Government, 2009 U.S. Presidential Inauguration, Consumers, Government
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GMAC gets a government boost
BusinessWeek.comNow here???s a government bailout that could achieve some results pretty quickly. The Federal Reserve bought a $5 billion stake in the lender GMAC Financial Services, the lending arm of General Motors, and loaned it another $1 billion. GM responded by...
Jan 9, 2009
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Jan 9, 2009
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Jan 9, 2009
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Jan 8, 2009
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Jan 9, 2009
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Jan 9, 2009
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|Story| Los Angeles Times
Jan 8, 2009
|Blog| Chicago Tribune
Jan 8, 2009
|Blog| BusinessWeek.com
