Federal Reserve

Fed expands effort to fight credit crisis

The Federal Reserve announced Friday that it will expand a series of efforts to deal with the global credit crisis, in coordination with European central banks. The Fed said it was boosting the amount of emergency reserves it supplies to United States banks to US$150 billion ($205 billion) in May, from the US$100 billion it supplied in April. The Fed took this action and several other moves to boost...

recession? WHAT RECESSION?

The global market panic driving Tuesday’s United States Federal Reserve rate cut is rooted in the still controversial idea that the US economy has slipped into a recession. Many market participants now take it as an article of faith that the US economy is, or will soon be, in a contractionary phase of economic activity. Some even argue that as long as it “feels” like a recession, it is one. But that...

Asian markets slump for second day

Investors may emerge to pick up bargains following US rate cut INVESTORS across Asia stared in disbelief as stock markets yesterday haemorrhaged for a second day running on fears that a recession in the United States might plunge the world into its worst financial crisis in decades. The fears prompted the US Federal Reserve to slash its federal funds rate target by 0.75 percentage point to 3.5 per cent...

Fed cuts rates in emergency move

But this won't dispel bear's shadow over loss-ridden markets WITH the world staring down the throat of what billionaire investor George Soros called its worst financial crisis yet, and its biggest economy driven to possible recession by fallout from sub-prime mortgage losses, the United States Federal Reserve yesterday slashed interest rates by 75 basis points — the biggest cut in 23 years. The central...

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