Fed to keep rates near zero to nurture recovery Nov 4, 2009
The Federal Open Market Committee (FOMC), headed by Fed chairman Ben Bernanke, likely will stay its highly accommodative course to boost credit flows, the lifeblood of the economy, analysts said. "We don't expect any change in the underlying federal funds interest rate target, currently zero percent to 0.25 percent, or a change in the timing of the Feds removal of its quantitative easing program," said Frederic Dickson at DA Davidson & Co.. (Yahoo! Asia News)
Fed to mull recovery, financial stability at policy meeting Nov 3, 2009
The Federal Open Market Committee, the central bank's policy setting group, meets on November 3 and November 4. RECOVERY'S ARRIVAL. (Yahoo News -- Press Releases)
Bernanke's Housing Gamble May Bring Pressure From Congress to Keep Fed Aid Nov 3, 2009
Bernanke, who convenes a meeting of the Federal Open Market Committee today, is counting on private investors to fill the void left by the Fed when its purchases end. If hes wrong, he may come under pressure from politicians to maintain support for housing or even extend credit programs for small businesses and consumers. (Bloomberg -- US)
Stock futures point to lower open on Wall Street Nov 3, 2009
The Federal Open Market Committee begins the first day of a two-day meeting on interest rate policy where they are expected to keep interest rates close to zero. Pensions rose an average of 19 percent in 2008 for top executives, with more than 200 seeing increases of more than 50 percent, according to a Wall Street Journal analysis. (Yahoo News -- Press Releases)
Australian, New Zealand Dollars Advance as Economic Growth Set to Quicken Nov 2, 2009
The Bank of England, European Central Bank and Federal Open Market Committee are all scheduled to meet this week. The South Pacific currencies earlier dropped to their weakest in more than three weeks against the yen as so-called stop-loss orders were activated, said , director of foreign-exchange sales in Tokyo at NTT SmartTrade Inc., a unit of Nippon Telegraph & Telephone Corp.. (Bloomberg -- Australia & New Zealand)
Fed Seen on Hold as Outlook Uncertain Nov 2, 2009
Most analysts at top U.S. banks expect the Fed's policy-setting Federal Open Market Committee to keep interest rates on hold until mid-2010 or later, though interest-rate futures markets are pricing in an increase earlier in 2010. 1. (ABC News -- Wire)
US Fed unlikely to change tack as recession ends Nov 2, 2009
Economists and traders will be poring over the Federal Open Market Committee statement released after the meeting in search of signals for the direction of monetary policy. "The Federal Open Market Committee will use its post-meeting statement to acknowledge the recession has ended and revise its near-term forecast to reflect the better tone of the data," said Joseph Brusuelas of Moody's Economy. (Sydney Morning Herald -- Business)
US stocks slide ahead of Fed rate decision, jobless data Nov 1, 2009
The Federal Reserve's policymaking committee, the Federal Open Market Committee, meets Tuesday and Wednesday. The FOMC is widely expected to keep the Fed's base interest rate target at a historic low of zero to 0. (Yahoo! Asia News)
Funds exiting stocks Nov 1, 2009
And market players generally had a risk-aversion bid for treasuries going into next week's Federal Open Market Committee meeting and critical October jobs data ... And market players generally had a risk-aversion bid for treasuries going into next week's Federal Open Market Committee meeting and critical October jobs data. (New York Post -- News)
Central banking cryptology Oct 31, 2009
At the moment, the Fed has said in its Federal Open Market Committee (FOMC) statements they will remain so for an extended period. The Fed may change the statements, or signal shifts in speeches and testimony. (FT.com -- Markets)
How to Tell Mortgage Rates Are Rising Oct 30, 2009
For instance, the Federal Open Market Committee said in its September minutes that when it came to interest rates, there is no policy change. And the minutes said that while the Fed believes an economic recovery is underway, it regards a weak economy as a greater risk than inflation. (Realtor Magazine Online)
Australia, N.Z. Dollars Set for Longest Monthly Wins on U.S. Growth Return Oct 30, 2009
The Aussie will probably be capped around the 92-cent level this session with the Reserve Bank of Australia and the Federal Open Market Committee meetings next week, Bieber said. The New Zealand currency may gain to 73. (Bloomberg -- Australia & New Zealand)
Obama Bridge to Growth May Go Nowhere as Feldstein Warns of `Double Dip' Oct 30, 2009
The Federal Open Market Committee may opt next week to soften its suggestion that short-term interest rates will stay at exceptionally low levels for an extended period in order to give it more flexibility to change policy in the future, , co-head of global economics for Morgan Stanley in New York, said in a report to clients on Oct. 26. Policy makers, who have set a target of zero to 0. (Bloomberg -- US)
Fed Is Ending Treasury Purchases That Held Down Yields, Stabilized Housing Oct 29, 2009
Fed policy makers said at their August Federal Open Market Committee meeting they would slow the pace of Treasury purchases in a effort to promote a smooth transition in markets. The program was originally scheduled to end last month. (Bloomberg -- US)
Flushing Financial Corporation Reports 2009 Third Quarter Earnings Increase of 65% to $0.33 Per Diluted Common Share; Core Earnings Increase of 3.7% to $0.28 Per Diluted Common Share Oct 21, 2009
The decrease in the cost of interest-bearing liabilities is primarily attributable to the Federal Open Market Committee ("FOMC") lowering the overnight interest rate throughout 2008, and maintaining the targeted Fed Funds rate in a range of 0. 00% to 0. (Primezone Releases)
Fed's Yellen: No Tightening in Next Several Months Oct 21, 2009
"We have used the language of an extended period," Yellen, a voting member of the Federal Open Market Committee, told reporters after a Fed conference. "This is not something I anticipate happening over the next several months. Certainly not.". (ABC News -- Business)
Greenspan worries about U.S. debt, not dollar slide Oct 16, 2009
He also served as chairman of the federal open market committee, the system's principal monetary policymaking body. Former Federal Reserve Chairman Alan Greenspan speaks at the Council on Foreign Relations in New York, the U.S., Oct. 15, 2009. (Xinhuanet, China)
Fed considers more asset buying Oct 16, 2009
The US central bank held interest rates near zero as expected after the meeting of its policy-setting Federal Open Market Committee (FOMC), and voiced guarded optimism about the sustainability of the countrys economic recovery. It also opted to extend its mortgage debt buying campaign until the end of March 2010 from a previously announced close of Dec 31, 2009, while keeping the total size of the purchases the same at US$1. (The Star Online, Malaysia -- Business)
U.S. stocks rallied on Wednesday as upbeat earnings from Intel and JPMorgan Chase boosted market sentiment. Dow returned to above 10,000 points for the first time in a year.• U.S. Fed sees economy in "restrained" recovery Oct 15, 2009
Minutes of the Federal Open Market Committee (FOMC), the Fed's monetary policy decision meeting held on Sept. 22-23, showed that Fed Chairman Ben Bernanke and his colleagues saw much more positive signs about the economy's prospects compared with an assessment made in August. Many Fed officials raised their "projection for real GDP growth over the second half of 2009 and over 2010.". (Xinhuanet, China)
Fed sees 'restrained' recovery in US Oct 15, 2009
The minutes released from the September 22-23 Federal Open Market Committee showed ongoing worries about unemployment despite an apparent pickup in economic activity. A Fed staff projection used by policymakers showed some larger gains in employment than previously forecast, but unemployment holding as high as 9. (Yahoo! Asia News)
Dow Average Is Back Over 10,000 Oct 15, 2009
Minutes to the September meeting of the Federal Reserve's policy-setting arm, the Federal Open Market Committee, showed Fed policy makers believed an economic recovery was underway. Also supportive for stocks: reports showing better-than-expected U.S. retail sales and a smaller-than-expected rise in U.S. import prices last month. (BusinessWeek)
Calendar of Major Business Events for Wednesday Oct 13, 2009
WASHINGTON Federal Reserve releases minutes of Federal Open Market Committee meeting of Sept. 22-23. WASHINGTON Commerce Department releases retail sales for September, 8:30 a.m.. (ABC News -- Wire)
Dai-ichi Mutual to Boost Yen-Denominated Bond Holdings in Second Half Oct 13, 2009
The Federal Open Market Committee said last month the economy has picked up, while maintaining a pledge to keep the target interest rate exceptionally low for an extended period. . (Bloomberg -- Japan)
US stocks up on earnings confidence Oct 13, 2009
At the last meeting, the Federal Open Market Committee (FOMC) voted unanimously to maintain the federal funds rate of zero to 0. 25 percent and pledged to continue a program of more than one trillion dollars to help keep credit flowing by purchasing mortgage securities and other bonds. (India Times)
CBS, Cablevision Reach Deal Oct 10, 2009
"It assures that Cablevisions customers will continue to enjoy CBS and Showtime content for years to come. The release quoted Cablevision Chief Operating Officer Tom Rutledge as saying the company was happy with the outcome of this agreement. Details of the deal were not released. An analyst at Bernstein Research estimated CBS will earn new revenue of $245 million in 2012 from retransmission fees, according to a Reuters report. Shares of CBS fell 21 cents or 1.67% on Friday, to close... (Fox News)
Dollar Advances After Bernanke Says Fed Ready to `Tighten' Upon Recovery Oct 9, 2009
The Fed chairmans comments echoed language from last months meeting of the Federal Open Market Committee and those of Kansas City Fed President , who on Oct. 6 said raising interest rates wouldnt derail the U.S. economic recovery. Incremental Increases. (Bloomberg -- Japan)
Bernanke Says Fed Will Be Ready to Tighten Policy When Economy Improves Oct 9, 2009
My colleagues at the Federal Reserve and I believe that accommodative policies will likely be warranted for an extended period, Bernanke said at a Board of Governors conference yesterday in Washington, echoing language from last months meeting of the Federal Open Market Committee. At some point, however, as economic recovery takes hold, we will need to tighten monetary policy to prevent the emergence of an inflation problem down the road. (Bloomberg -- US)
Oil falls as Bernanke says Fed may tighten policy Oct 9, 2009
The Federal Open Market Committee reiterated its pledge last month to keep the benchmark lending rate near zero ''for an extended period'' to boost a weak recovery that has yet to create jobs. US unemployment rose to 9. (Sydney Morning Herald -- Business)
Fed ready to act on US economy Oct 9, 2009
My colleagues at the Federal Reserve and I believe that accommodative policies will likely be warranted for an extended period,'' Bernanke said in prepared remarks at a Board of Governors conference today in Washington, echoing language from last month's meeting of the Federal Open Market Committee ... To keep longer-term interest rates low, the Federal Open Market Committee is also conducting a $US1. (Sydney Morning Herald -- Business)
Fed's Hoenig: Economy improving; 2nd recession unlikely Oct 9, 2009
Hoenig is the head of the Fed's district that includes Colorado, and is an alternate member of the Fed's Federal Open Market Committee this year. The FOMC handles open-market operations, including setting the federal funds target rate, or the rate at which banks make overnight loans to each other. (Denver Business Journal, CO)
I-Believe-in-a-Strong-Dollar Refrain Becomes Relic as China Begs Stability Oct 8, 2009
By not varying the statement, an issue never arose about whether a comment involved a subtle change or not in the policy toward the dollar, former Fed Chairman told his colleagues on the Federal Open Market Committee in 2001, according to a transcript of the meeting. It was boring, it was dull, it was repetitive, it was nonintellectual, and it worked like a charm. (Bloomberg)
Fed Should Increase Interest Rates `Sooner Rather Than Later,' Hoenig Says Oct 7, 2009
The Federal Open Market Committee said last month the U.S. economy has picked up following the deepest recession since the 1930s. Officials slowed the purchase of $1. (Bloomberg -- US)
How to disarm theliquidity bomb Oct 7, 2009
After its latest meeting, the policy-setting Federal Open Market Committee (FOMC) announced on September 23 that it was considering ways to reverse the unprecedented torrent of liquidity it has pumped into the US financial system, but that interest rates will remain near zero for a prolonged period. Apart from the question of when the United States Federal Reserve should move, it has gotten the order wrong. (Asia Times Online)
Global markets speculate on rate rising cycle Oct 6, 2009
The Federal Reserve, also with a rate close to zero, is not expected to hike when the Federal Open Market Committee meets in the first week next month. Data last week showed that unemployment in the US was close to 10 percent. (Business Report, South Africa)
Fed's Fisher: Be cautiously optimistic Oct 1, 2009
He added that the Federal Open Market Committee has indicated that the Fed s $1. 25 trillion intervention into the mortgage-backed securities market will end by the first quarter of 2010. (Dallas Business Journal, TX)
Reality, where art thou? Sep 30, 2009
Further nonsense like the declaration by the Federal Open Market Committee last Wednesday that "economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period" only encourages the unreality - if good quality borrowers can borrow short-term at a cost well below the rate of inflation (let alone the likely future rate of inflation), then fantasy continues to be subsidized. The Fed and the Bureau of Labor Statistics have managed for 14 years to... (Asia Times Online)
Plosser Says Federal Reserve Will Need to Avert a Second `Great Inflation' Sep 30, 2009
He doesnt vote on Federal Open Market Committee decisions this year. Eerily Similar. (Bloomberg -- US)
Fed's Plosser: Policy Shift May Need to Be Aggressive Sep 30, 2009
The Federal Reserve's policy-setting Federal Open Market Committee -- of which Plosser is not a voting member this year -- said at its September meeting that it would keep rates very low for a long time. Most economists expect the Fed to start raising rates next year. (ABC News -- Wire)
Treasury Pulse Sep 26, 2009
THE decision by the Federal Open Market Committee (FOMC) to keep the federal funds rate in the targeted range of 0%-0. 25% was widely anticipated. (The Star Online, Malaysia -- Business)
Fed Rescue Strategy for Economy Lowers U.S. Bailout Tab to $11.6 Trillion Sep 26, 2009
The Federal Open Market Committee decided on Sept. 23 to continue the program through the first quarter of next year and slow the pace of buying to promote a smooth transition in markets, the committee said in a statement. It also said the economy has picked up. (Bloomberg)
* Fed maintains loan rates, says economy recovering Sep 25, 2009
Information received since the Federal Open Market Committee met in August suggests that economic activity has picked up following its severe downturn, the Fed said in a statement after its two-day policy meeting. It added that conditions in financial markets have improved further and activity in the housing sector has increased. (Taipei Times, Taiwan -- World)
US stocks down on fall in home sales Sep 25, 2009
"Basically, after the FOMC meeting, investors took that as an excuse to take some profits," said Carmine Grigoli, chief U.S. investment strategist at Mizuho Securities in New York, referring to the central bank's Federal Open Market Committee. And there wasn't enough news on Thursday to convince investors to do otherwise, he said. (The Star Online, Malaysia -- Business)
Fed keeps near-zero rates, sees rebound Sep 24, 2009
The Federal Open Market Committee voted unanimously to maintain the base rate of zero to 0. 25 per cent in place since last December to help the economy recover from its worst recession in decades. (Sydney Morning Herald -- Business)
Dollar edges up ahead of G20 summit Sep 24, 2009
On Thursday morning (AEST) the US Federal Open Market Committee (FOMC) left the US federal funds rate unchanged in a target range between zero and 0 ... Information received since the Federal Open Market Committee met in August suggests that economic activity has picked up following its severe downturn, the FOMC statement said. (Sydney Morning Herald -- Business)
Fed acknowledges recovery under way, extends stimulus Sep 24, 2009
The Federal Open Market Committee voted unanimously to maintain the federal funds rate of zero to 0. 25 percent in place since last December to help jolt the economy out of its worst recession in decades. (Yahoo! Asia News)
Mixed trading on Bursa; US keeps rates unchanged Sep 24, 2009
8% in overnight trading after the US Federal Open Market Committee kept rates unchanged. The policymakers indicated that the prevailing economic conditions would warrant exceptionally low levels of rate for an extended period because the picking up economic activity was likely to remain weak. (The Star Online, Malaysia)
U.S. Fed slows pace of housing aid program amid upbeat Sep 24, 2009
"To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of 1.25 trillion U.S. dollars of agency mortgage-backed securities and up to 200 billion dollars of agency debt," the Federal Open Market Committee said in a statement after wrapping up a two-day meeting. "The Committee will gradually slow the pace of these purchases in order to promote a smooth transition in markets and anticipates... (Xinhuanet, China)
Goldman's Tilton Says Fed Has Time to Shrink Balance Sheet as Credit Slows Sep 23, 2009
The policy-making Federal Open Market Committee will hold the benchmark interest rate target near zero through 2010, according to Goldmans forecast. The central banks preferred price gauge, which is tied to consumer spending and excludes food and fuel costs, will fall 0. (Bloomberg)
EU stocks inch higher; eyes on Fed Sep 23, 2009
Economists forecast the policy-setting Federal Open Market Committee to hold its target range for overnight interest rates steady at zero to 0. 25 percent until at least 2010. (India Times)
Fed Starts Meeting, Seen Noting Improving Economy Sep 23, 2009
The Fed's policy-setting Federal Open Market Committee began conferring at around 2 p.m. EDT, a spokesperson said. The central bank is expected to issue a statement about policy and the economic outlook at around 2:15 p.m. EDT on Wednesday. (ABC News -- Wire)
Fed remains in stimulus mode but eyes exit strategy Sep 23, 2009
The Federal Open Market Committee (FOMC) headed by Fed chairman Ben Bernanke began meeting at 1800 GMT and was to issue a statement Wednesday around 1815 GMT.. Analysts say the panel is virtually certain to maintain a near-zero base rate along with an array of programs to keep credit flowing, to support a fragile recovery from recession. (Yahoo! Asia News)
Bank savings in spotlight as G20 eyes overhaul Sep 23, 2009
Edwin Truman, a former economist for the Federal Open Market Committee -- which sets US interest rates -- and now a fellow of the Peterson Institute think tank, is not so pessimistic. While Truman acknowledged economic growth might be clipped thanks to a shrinking financial sector and a higher cost of (obtaining) funds, it is unlikely the tentative recovery would be severely stymied. (Sydney Morning Herald -- Business)
Fed May Signal Economic Recovery Has Begun While Keeping Rate Near Zero Sep 23, 2009
The Federal Open Market Committee is scheduled to issue its statement at around 2:15 p.m. after the end of its two-day meeting. Signs of a recovery include a stabilization in the housing industry and gains in exports, retail sales and industrial production, said , a professor of economics at New York University. (Bloomberg -- US)
FBM KLCI begins week on higher note after the Raya holidays Sep 23, 2009
The US Federal Open Market Committee (FOMC) started its two-day meeting yesterday to discuss the countrys monetary policy. The US dollar weakened to 1. (The Star Online, Malaysia)
Stocks End Higher as Market Awaits Fed Sep 23, 2009
Many traders remained on the sidelines Tuesday as the policy-setting Federal Open Market Committee began a two-day meeting. Markets were looking for any comment from the central bank in its post-meeting statement, expected at 2:15 p.m. ET Wednesday, indicating that the Fed might wind down on its unconventional financial stimulus measures given the improving macroeconomic data. (BusinessWeek)
Bernanke Effort to Accelerate Growth May Be Undermined by Loan Contraction Sep 22, 2009
The Federal Open Market Committee, at the conclusion tomorrow of a two-day meeting, will probably maintain its assessment that tight bank credit is impeding growth. Lending contracted for five straight weeks through Sept. 9, a drop that in part reflects Fed orders to banks to raise more capital and toughen lending standards, analysts say. (Bloomberg -- US)
Gold bounces from one-week low Sep 22, 2009
The Federal Open Market Committee is expected to hold rates steady but markets want to know if there are signs that the super-accommodative policy stance will be wound back, given a recent pick-up in economic data. US gold futures for December delivery added $US3. (Sydney Morning Herald -- Business)
Wall St ends weaker as rally pauses Sep 22, 2009
Analysts felt the correction was timely, especially ahead of the two-day meeting of the Federal Open Market Committee from Tuesday and the Group of 20 summit in the US city of Pittsburgh later in the week. The Fed is widely expected to leave unchanged the near-zero interest rate but may make minor changes to the array of liquidity programs to keep credit flowing. (India Times)
Shrinking Money Supply Dampens Inflation Fears Sep 22, 2009
The upshot: Members of the rate-setting Federal Open Market Committee are likely to announce on the afternoon of Sept. 23 that they are sticking with their stimulative monetary policy. Inflation, , remains more of a long-term threat. (BusinessWeek)
Gold slips as demand wanes Sep 21, 2009
The Federal Open Market Committee is likely to hold rates steady at the meeting, which starts on Tuesday but markets want to know if there are signs that the super-accommodative policy stance will be wound back, given a pick up in economic data. "If you look at the chart, gold has been consolidating in recent days. Of course some short-term hedge funds will unload part of their positions but I don't think they will turn market sentiment around," said a dealer in Hong Kong. (Sydney Morning Herald -- Business)
Dollar opens lower as investors look to G20 Sep 21, 2009
"What it's related to is the FOMC (Federal Open Market Committee) meetings later this week. The debate has now shifted to Fed (Federal Reserve) rate rises.'' Mr Capurso said that while there was almost no chance the FOMC would raise rates when it met on Tuesday, investors hoped the committee would include some hawkish language in its accompanying statement.US interest rates now stand at a target range of between zero and 0.25 per cent. The FOMC, the policy making arm of the US Federal Reserve,... (Sydney Morning Herald -- Business)
Stocks' Rise Hinges on Fed and Data Sep 21, 2009
The Federal Open Market Committee will meet on Tuesday and Wednesday, with investors anxiously awaiting the policy-makers' assessment of whether the economy is improving. The week's key economic data will include U.S. existing home sales, new home sales, a report on new orders of durable goods such as washing machines and refrigerators, and a final reading for September on consumer sentiment -- all likely to put the expectations for recovery to the test. (ABC News -- Wire)
Housing Suffering Relapse Confronts Bernanke With Credit Still a Conundrum Sep 21, 2009
No decision was made by the central banks policy-making Federal Open Market Committee. Mortgage-Backed Securities. (Bloomberg -- US)
Business Briefing Sep 21, 2009
-- Federal Open Market Committee announces results of rate-setting meeting ... W -- Federal Open Market Committee announces results of rate-setting meeting. (San Francisco Chronicle -- Business)
Australian, New Zealand Dollars Little Changed Before Federal Reserve Meet Sep 21, 2009
Demand for higher-yielding currencies may be trimmed before the Federal Open Market Committee meets Sept. 22 and 23 to decide on monetary policy. Chairman said Sept. 15 that the worst U.S. recession since the 1930s has probably ended. (Bloomberg -- Australia & New Zealand)
