The Federal Reserve Bank of New York’s board of directors has begun its search for a new chief.The board announced that it has created a search committee in light of president-elect Barack Obama’s intention to nominate New York Fed president Timothy Geithner as his secretary of the Treasury. The search committee consists of Stephen Friedman, […]
The latest initiative from the U.S. Federal Reserve Board, which targets private sector borrowing costs, should help alleviate the credit crunch, BCA Research says.Earlier this week the Fed announced the creation of the Term Asset-Backed Securities Loan Facility, which will lend up to US$200 billion to holders of AAA-rated securities backed by newly and recently […]
New facility targets consumer lending
U.S. economy to contract
Lee’s actions misvalued natural gas options
Agencies call on banking organizations to review management compensation policies
The U.S. Federal Reserve Board warned Tuesday that people seeking loans are being enticed with fraudulent promises of access to a non-existent Fed facility.The Fed reported instances of questionable solicitations directed at consumers that promise access to personal loans through a Federal Reserve lending program that doesn’t exist.Under this fraudulent scheme, targeted individuals are told […]
Cut won’t likely be enough to prevent economy from slipping into recession
MMIFF should improve liquidity position of money market investors
Second fiscal stimulus could include spending on infrastructure, healthcare, income security, and access to credit