Summary Box: Fed says economy is picking up; decides to slow down supportSeptember 23rd, 2009 Summary Box: Fed says economy is picking upIMPROVING PICTURE: Federal Reserve policymakers upgraded their view of the economy, saying "economic activity has picked up."
SLOWING SOME SUPPORT: The Fed decided to stretch out a program intended to lower mortgage rates and prop up the housing market. It says it will complete its $1.45 trillion program to buy mortgage-backed securities and debt by the end of March, rather than the end of this year.
Summary Box: Incomes flat in July but spending rises modestly with help of Cash for ClunkersAugust 28th, 2009 Summary Box: Incomes flat but spending up modestlySTAGNANT INCOMES: Household income failed to grow last month as consumer spending edged up 0.2 percent, aided by the now-ended Cash for Clunkers program. SPENDING CONCERNS: Personal incomes have fallen or remained unchanged in eight of the past 10 months.
Summary Box: Consumer sentiment improves, while home prices rise for first time in 3 yearsAugust 25th, 2009 Summary Box: Consumer sentiment, home prices upWHAT HAPPENED?: Consumer confidence improved more than expected in August, and a nationwide gauge of home prices rose for the first time in three years, a sign the housing sector is stabilizing. WHAT DOES IT MEAN?: Improved consumer sentiment and higher home prices could mean consumers will spend more in the coming months, providing a much-needed boost to the economy.
Summary Box: Fed faces economic and political pressures in reeling in emergency aidAugust 20th, 2009 Summary Box: Fed faces hard task in reeling in aidTHE CHALLENGE: The Federal Reserve eventually will have to dismantle emergency programs and reel in the trillions of dollars it's plowed into the economy to try to revive business activity, unlock lending and stabilize financial markets. WHAT'S AT STAKE: Timing is vital.
With credit tight, Federal Reserve extends consumer lending program through MarchAugust 18th, 2009 With credit tight, Fed extends consumer loan planWASHINGTON — With banks limiting the availability of auto, student and other consumer loans, the Federal Reserve said Monday it would extend a program intended to help spur more lending at low rates. The program is set up to provide up to $1 trillion in low-cost financing to investors to buy securities backed by consumer and commercial loans.
Fed extends consumer lending program through March, will not expand types of loans madeAugust 17th, 2009 Fed extends consumer lending program through MarchWASHINGTON — The Federal Reserve has extended the length of a program intended to spur lending to consumers and small businesses at lower rates, but the central bank said it had no plans to expand the types of loans being made. The Fed said Monday it was extending its Term Asset-Backed Securities Loan Facility through March 31 for most of the types of loans it makes.
Summary Box: Consumer prices down over past year by biggest amount in nearly 6 decadesAugust 14th, 2009 Summary Box: Consumer inflation a no-show in JulyWHAT HAPPENED?: Consumer prices were unchanged in July, and over the past 12 months they have fallen 2.1 percent — the sharpest annual decline since a similar drop in the period ending in January 1950. WHAT DOES IT MEAN?: The recession and falling energy prices made inflation nonexistent — welcome news for consumers struggling with high unemployment, diminished savings and falling home values.
Summary Box: Clunker cash delivers a boost, but it's no long-term economic solutionAugust 5th, 2009 Summary Box: Clunker cash is no long-term solutionWHAT'S HAPPENING: The "cash-for-clunkers" program provides rebates of up to $4,500 to drivers who trade in a gas-guzzler for a more fuel-efficient vehicle. That's boosting car sales and generating much-needed sales taxes.
Government program to spark consumer lending backs 9 deals worth $12 billion in JulyJuly 10th, 2009 Fed program backs $12B in consumer loans in JulyWASHINGTON — A government program intended to spark lending to consumers and small businesses at cheaper rates supported nine deals worth a total of roughly $12 billion this month, down about 27 percent from June's total. Earlier this week, the Federal Reserve Bank of New York reported that investors requested $5.4 billion worth of loans in July as part of the program to boost consumer lending.
Investors seek $5.4 billion worth of loans in July in federal program to spur consumer creditJuly 7th, 2009 July demand dips for gov't consumer credit programWASHINGTON — Investors on Tuesday showed a smaller appetite for participating in a government program intended to spur lending to consumers and small businesses at lower rates. Investors requested $5.4 billion worth of loans, the Federal Reserve Bank of New York said.
Investors show no appetite for Fed program to bolster commercial real estate loansJune 17th, 2009 Commercial real estate loans draw no interestWASHINGTON — Investors showed no appetite for commercial real estate loans in the debut of a government plan intended to boost their availability. The Federal Reserve Bank of New York said it received no investor requests for loans by Tuesday's deadline.
Investors show no appetite for Fed program to bolster commercial real-estate loansJune 16th, 2009 Commercial real-estate loans draw no interestWASHINGTON — Investors showed no appetite for a government plan intended to boost the availability of commercial real-estate loans. The Federal Reserve Bank of New York says it received no investor requests for loans by Tuesday's deadline.
Hartford Financial to offer shares of stock for up to $750M, gets approval for federal programJune 12th, 2009 Hartford Financial to offer $750M in sharesHARTFORD, Conn. — Insurer Hartford Financial Services Group Inc.
Consumer, commercial lending down in March for banks that took taxpayer moneyJune 1st, 2009 Bailed-out banks lent less money in MarchWASHINGTON — Banks that received taxpayer bailouts had a lower average level of loans outstanding as of the end of March than a month earlier, the Treasury Department reported Monday. Five hundred of the more than 600 banks participating in the $700 billion financial system rescue had an average of $5.24 billion in loans oustanding on March 31, down 0.8 percent from the $5.28 billion average they showed at the end of February.
Investors request $10.6 billion in TALF loans from Fed, demand up for consumer lending programMay 5th, 2009 Investors request $10.6B in TALF loans from FedWASHINGTON — Demand surged this month from investors seeking to participate in a government program aimed at jump-starting lending to consumers and small businesses. Investors requested $10.6 billion worth of loans, the Federal Reserve Bank of New York said Tuesday.
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