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#Federal Reserve

# federal-reserve - Wednesday 25 June, 2014

US economy suffers sharpest contraction in five years

Severe weather, weak consumer spending growth and higher imports all played a role, according to US Commerce Dept.

# federal-reserve - Thursday 8 May, 2014

Cannabis growers in Colorado are struggling for financing, could co-ops be the answer?

Growing marijauna is an expensive business and banks don’t want to help.

# federal-reserve - Tuesday 18 March, 2014

Column: The two sides of bitcoin – is this virtual currency a boon or a threat?

Despite being the darling of the tech frontier, surely we can now see that the red flags being waved around this “currency” are far from virtual, writes Peter Casey.

# federal-reserve - Tuesday 7 January, 2014

Janet Yellen becomes first female chair of US Federal Reserve

Yellen was nominated by President Barack Obama for the top job in October 2013.

# federal-reserve - Friday 9 August, 2013

Man sentenced to 30 years in prison over plot to blow up Federal Reserve

The 22-year-old asked for forgiveness today and said he no longer believes in radical Islam.

# federal-reserve - Monday 14 January, 2013

Obama rules out minting $1 trillion coin to solve US debt woes

“There are no magic tricks here,” says the President, dismissing suggestions that a $1 trillion platinum coin could be minted.

# federal-reserve - Thursday 18 October, 2012

Family defend Bangladeshi man arrested for NY bomb plot

The suspect’s father said he spent all of his savings to send him to America to study so he would have a better chance at life.

# federal-reserve - Wednesday 17 October, 2012

Man arrested over plot to blow up Federal Reserve in New York

The man believed he was about to detonate a car bomb outside the Federal Reserve – but the FBI had been closely watching him for some time and foiled the attack.

# federal-reserve - Friday 5 October, 2012

US unemployment drops to 7.8 per cent, lowest in nearly four years

The news will be a boost to President Barack Obama ahead of next month’s election.

# federal-reserve - Friday 7 September, 2012

US unemployment rate drops but just 92,000 jobs created in August

The latest jobs figures are not likely to boost Barack Obama’s re-election hopes ahead of the November vote.

# federal-reserve - Monday 30 July, 2012

Whatever it takes: Stocks rise as leaders make eurozone pledge

There is speculation that the eurozone bailout fund and the ECB could buy-up Spanish bonds in a bid to alleviate fears about the single currency.

# federal-reserve - Tuesday 10 January, 2012

Federal Reserve hands over $76.9 billion profit to US government

The United States’ central bank made a near-record profit last year, thanks to its growing stash of US government bonds.

# federal-reserve - Friday 23 September, 2011

The 9 at 9: Friday

Nine things to know by 9am: Baby boom for Ireland, Palestine launches bid for statehood, and a case of spontaneous combustion in Galway…

# federal-reserve - Friday 26 August, 2011

World stocks unsteady ahead of Bernanke speech

World stock markets are unsteady today ahead of a speech by US Federal Reserve Chairman Ben Bernanke, in which he will outline whether the Fed will take new steps to help the US economy avoid another recession.

# federal-reserve - Monday 22 August, 2011

US Fed gave Irish banks €8bn in emergency loans

Data compiled by Bloomberg shows that Ireland’s banks got emergency loans from the US while being capitalised back home.

# federal-reserve - Wednesday 10 August, 2011

Dour US opening sends European markets back into the red

It seems the worst is over for the stock markets, as Europe’s markets all make modest gains in morning trading.

The 9 at 9: Wednesday

Nine things to know this morning…

# federal-reserve - Tuesday 9 August, 2011

Dow Jones rallies after Fed statement

The Federal Reserve said today that it’s likely to keep interest rates at record lows for the next two years. It also acknowledged that the economy is weaker than it had thought.

The Daily Fix: Tuesday Daily Fix This post contains videos

The Daily Fix: Tuesday

In today’s Fix: the latest from the UK as the violence spreads, Apple is now the most valuable business in the world, graffiti and poop on the streets of the country, and Ireland’s favourite movies…

# federal-reserve - Thursday 14 July, 2011

Obama walks out of budget talks with Republicans

The US president told Republicans ‘enough is enough’ over the debt ceiling, while the rating agency Moody’s has threatened to review the USA’s AAA rating.

# federal-reserve - Tuesday 19 April, 2011

US government bonds put on 'negative' watchlist by S&P

The very benchmark of government financial reliability – the US Treasury bond – is given a talking-to by Standard & Poor’s.

# federal-reserve - Wednesday 22 September, 2010

Federal Reserve leaves rates unchanged for 20th month

The rate stays at between 0 and 0.25% – where it’s been since December 2008 – and will stay there for an “extended period”.

# federal-reserve - Friday 27 August, 2010

THE CHAIRMAN OF THE United States Federal Reserve, Ben Bernanke, has admitted that the country’s economic recovery had slowed down – but was equivocal in dismissing any speculation of a potential double dip recession.

Earlier estimates of a 2.4% growth in the US economy this year have been revised downward in favour of a new projection of 1.6%, a growth Bernanke described as a “modest pace”.

Speaking at a Federal Reserve conference, Bernanke said the Fed was prepared to provide extra cash to the economy – but, crucially for some, didn’t fully indicate whether he thought such action would be necessary.

He said the Fed’s purchases of longer-term securities have been effective in lowering borrowing costs, and that the benefits of doing so again would outweigh the potential disadvantages.

Bernanke seemed to indicate that further long-term acquisitions would be more favourable to keeping interest rates low, or raising its inflation targets.

Treasuries prices fell in the immediate aftermath of the speech, with many investors having hoped that the Fed was on the verge of further investment in the market, while the Dow Jones also fell sharply but later went significantly higher.

The Fed had indicated earlier this month that it would not be reducing its $2.05 trillion securities portfolio, but investors had been waiting to see whether this meant it was planning to expand the portfolio in the near future.