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Linus Pauling Categories
Tag Archives: Federal Reserve
Schumer asks Fed to police business card marketing
U.S. Sen. Charles Schumer called on the Federal Reserve Wednesday, September 1, to step in to help individuals avoid opening corporate credit cards that come with fewer protections than cards meant for consumers.
Schumer, in a letter, asked Fed Chairman Ben Bernanke to crack down on banks signing consumers up for cards designed for small businesses and professionals, which are not subject to the sweeping credit card law that took effect in recent months . . . read more Read More
Fed officials discussed further stimulus steps
Federal Reserve officials signaled at their August meeting that they would consider going beyond a modest program to purchase government debt if necessary to boost the economy.
Minutes of the Fed’s discussions from the Aug. 10 meeting show the central bank recognized that the economy could need further stimulus beyond the debt purchases. Those are intended to lower interest rates on a range of consumer and business loans . . . read more Read More
..flation Investing
What’s it gonna be? Inflation or Deflation? Let me think now…inflation is going to be a huge problem in coming years. Did you see the incredible $1,400,000,000,000 federal budget deficit last year, with the same, or higher, budget deficit this year . . . read more Read More
Federal Reserve cracks down on mortgage fees
The Federal Reserve is banning mortgage brokers and lenders from reaping bigger fees by steering consumers into more expensive home loans.
The central bank said Monday, August 16, the new rules, which go into effect next April . . . read more Read More
A look at the Fed’s June, August statements
A comparison of the Federal Reserve’s statements from its last meeting on June 22-23 and the meeting Wednesday, August 11 . . . read more Read More
Summary Box: Fed ponders ways to bolster economy
PERKING UP ECONOMY: Federal Reserve meets Tuesday, August 10, to mull options to energize the recovery, which is losing speed.
SOME LESS RISKY OPTIONS: Clarify that the Fed will keep short-term interest rates . . . read more Read More
Fed chief sees long road back to economic health
The nation faces a long road to get back to good economic health, Federal Reserve Chairman Ben Bernanke said Monday, August 2 . . . read more Read More
Fed chief to Congress: Don’t end stimulus spending
Federal Reserve Chairman Ben Bernanke told Congress Thursday, July 22, that the fragile economy needs government stimulus spending to strengthen the recovery and help reduce unemployment.
Testifying before the House Financial Services Committee, Bernanke urged lawmakers to come up with a credible plan . . . read more Read More
Fed chief focused on keeping recovery alive
Federal Reserve Chairman Ben Bernanke heads to Congress Wednesday, July 21, with a message of reassurance: The Fed stands ready to take new steps to bolster the recovery if the economy worsens.
The Fed chief kicks off back-to-back appearances on Capitol Hill at a delicate time for the economy. The recovery, which had been flashing . . . read more Read More
Fed survey: Investors have bigger debt appetite
Investors are showing a bigger appetite to fund a range of securities, an encouraging sign that credit conditions are improving.
The Federal Reserve, in its first such survey, released Tuesday, July 13, found that demand . . . read more Read More
Fed to hold forum to boost small-business lending
The Federal Reserve said Wednesday, July 7, it will hold a forum next week to explore ways to improve the flow of lending to small businesses.
It’s the latest effort by the Fed to tackle the problem, which dates back to the 2008 financial crisis. . . . read more Read More
Highlights from the Fed’s latest economic survey
The Federal Reserve’s survey of economic conditions found growth has spread to all parts of the country for the first time since the recession began.
The survey, released Wednesday, June 16, and known as the Beige Book, is based on information collected from the Fed’s 12 regional bank districts. The last time the 12 regions all showed growth was in late 2007 . . . read more Read More
FYI: New clarifications on overdraft rules
The Federal Reserve has issued clarifications to the new law regarding overdraft fees that goes into effect July 1. The law requires banks to have customers opt-in to overdraft programs linked to debit cards.
Until now, most banks automatically enrolled their customers. That meant accountholders could be blindsided by overdraft charges, because many assume they can’t spend more than what’s in their account with a debit card.
The law does not include overdrafts by checks.
Highlights of the clarifications:
—Banks must send customers confirmation of the customers’ opt-in decisions before any fees can be assessed.
—A separate opt-in must be acquired for each account a customer has with a bank. . . . read more Read More
Fading of inflation helps buyers and borrowers
It’s a good time to buy a car, refinance a mortgage, hit the road or shop for clothes.
Invest in a saving account? Forget it.
Consumer inflation has all but disappeared, the government reported Wednesday, May 19. The Federal Reserve may now be emboldened to keep interest rates at record lows well into next year — and possibly into 2012.
As a result, banks’ prime lending rate will stay at its lowest point in decades. That figure is used to peg rates on credit cards, home equity loans, some adjustable-rate mortgages . . . read more Read More
Fed’s policymaking group has power over your purse
The Federal Reserve’s chief policymaking group has vast power over the finances of ordinary Americans, businesses and investors. The consequences of its interest-rate decisions range wide: from people’s ability to get affordable loans to the price of cereal at the grocery store or gasoline at the corner station.
Here’s a look at the policymaking group, called the Federal Open Market Committee.
Q: What is the FOMC’s primary role?
A: Its mission is to keep the economy, inflation and employment on a healthy track. When the economy weakens, Fed policymakers cut rates or keep them low. . . . read more Read More
