Archive for May, 2008
Friday, May 30th, 2008
The sharpest drop in housing prices in 50 years
poses a "significant" risk to the U.S. economy, but the Fed's rate cuts
should be felt in the second half of the year, according to one Fed
official on Friday.
Boston Fed President Eric Rosengren said the U.S.
housing market is ...
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Friday, May 30th, 2008
Inflation remains contained and personal spending
continued improving according to the latest report from the U.S. Commerce
Department on Friday. Economists said the Fed will be pleased to see that
consumers are holding in there despite weakness in the broader economy,
though in real terms the 0.2% gain in personal ...
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Friday, May 30th, 2008
Speaking on 'Money Markets and Financial Stability' at the New York
Fed's conference on money markets on Thursday night, Fed Vice-Chairman
Donald Kohn (voter) said it was unclear how much
strengthening of the U.S. financial regulatory system was needed, but
that the need for reforms was evident. "As I ...
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Friday, May 30th, 2008
Canadian Q1 and March GDP and core PCE in the U.S. will dominate the
economic news of the day as markets prepare for the final trading day of
May. In addition to comments from the Fed and Canadian finance ministers,
markets will also be paying attention to European Central Bankers ...
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Thursday, May 29th, 2008
On Thursday morning, the Federal Reserve Bank of New York announced
its intentions to conclude arrangements for the financing of
JPMorgan's acquisition of Bear Stearns by June 26 and
finish valuating the investment bank's portfolio.
"The New York Fed, in coordination with JPMorgan Chase, is working
carefully and expeditiously to...
...
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Thursday, May 29th, 2008
Speaking in San Francisco on Thursday, Dallas Fed President Richard
Fisher said he expects "a change of course in monetary
policy to occur sooner rather than later, even in the face of an
anemic economic scenario."
"I would expect a change of course in monetary policy to occur sooner
rather than ...
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Thursday, May 29th, 2008
Preliminary U.S. GDP, jobless claims and comments from the Fed's Ben
Bernanke, Donald Kohn and Timothy Geithner will highlight the North
American economic releases along with weekly oil inventories from the
Department of Energy and the first-quarter current account balance from
Canada.
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Wednesday, May 28th, 2008
Minneapolis Fed President Gary Stern said on Wednesday that
inflation expectations will be determined by how the
Federal Reserve raises rates.
On housing, Stern said the housing downturn looks
more severe than the 1990s shock, noting that the residential housing
inventory remains large and the housing adjustment is ongoing...
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Wednesday, May 28th, 2008
Federal Governor Frederic S. Mishkin submitted his
resignation today to President George W. Bush. Mishkin will be
leaving his post on Aug. 31, 2008.
Mishkin has been a member of the board since Sept. 5, 2006. Mishkin's
term was set to expire on Jan. 13, 2014.
Mishkin has said that he ...
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Wednesday, May 28th, 2008
The U.S. Department of Justice (DOJ) announced on Tuesday that it had
reached a proposed settlement with the National Association of Realtors
(NAR) to end a long-simmering dispute over the use of multiple
listings on the Internet.
The basis of the dispute and an eventual anti-trust lawsuit against NAR filed in ...
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