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Saturday 4 February 2023 Dublin: 3°C

# Federal Reserve

All time
# US Economy
US economy suffers sharpest contraction in five years
Severe weather, weak consumer spending growth and higher imports all played a role, according to US Commerce Dept.
# pot banking
Cannabis growers in Colorado are struggling for financing, could co-ops be the answer?
Growing marijauna is an expensive business and banks don’t want to help.
Voices
Column: The two sides of bitcoin – is this virtual currency a boon or a threat?
Despite being the darling of the tech frontier, surely we can now see that the red flags being waved around this “currency” are far from virtual, writes Peter Casey.
# janet yellen
Janet Yellen becomes first female chair of US Federal Reserve
Yellen was nominated by President Barack Obama for the top job in October 2013.
# Terrorism
Man sentenced to 30 years in prison over plot to blow up Federal Reserve
The 22-year-old asked for forgiveness today and said he no longer believes in radical Islam.
# MintTheCoin
Obama rules out minting $1 trillion coin to solve US debt woes
“There are no magic tricks here,” says the President, dismissing suggestions that a $1 trillion platinum coin could be minted.
# Federal Reserve
Family defend Bangladeshi man arrested for NY bomb plot
The suspect’s father said he spent all of his savings to send him to America to study so he would have a better chance at life.
# Attack
Man arrested over plot to blow up Federal Reserve in New York
The man believed he was about to detonate a car bomb outside the Federal Reserve – but the FBI had been closely watching him for some time and foiled the attack.
# US jobs
US unemployment drops to 7.8 per cent, lowest in nearly four years
The news will be a boost to President Barack Obama ahead of next month’s election.
# US 2012
US unemployment rate drops but just 92,000 jobs created in August
The latest jobs figures are not likely to boost Barack Obama’s re-election hopes ahead of the November vote.
# Eurozone
Whatever it takes: Stocks rise as leaders make eurozone pledge
There is speculation that the eurozone bailout fund and the ECB could buy-up Spanish bonds in a bid to alleviate fears about the single currency.
# Federal Reserve
Federal Reserve hands over $76.9 billion profit to US government
The United States’ central bank made a near-record profit last year, thanks to its growing stash of US government bonds.
# Markets
World stocks unsteady ahead of Bernanke speech
World stock markets are unsteady today ahead of a speech by US Federal Reserve Chairman Ben Bernanke, in which he will outline whether the Fed will take new steps to help the US economy avoid another recession.
# Emergency Lending
US Fed gave Irish banks €8bn in emergency loans
Data compiled by Bloomberg shows that Ireland’s banks got emergency loans from the US while being capitalised back home.
# Markets
Dour US opening sends European markets back into the red
It seems the worst is over for the stock markets, as Europe’s markets all make modest gains in morning trading.
# Markets
Dow Jones rallies after Fed statement
The Federal Reserve said today that it’s likely to keep interest rates at record lows for the next two years. It also acknowledged that the economy is weaker than it had thought.
# Daily Fix
The Daily Fix: Tuesday
In today’s Fix: the latest from the UK as the violence spreads, Apple is now the most valuable business in the world, graffiti and poop on the streets of the country, and Ireland’s favourite movies…
# USA
Obama walks out of budget talks with Republicans
The US president told Republicans ‘enough is enough’ over the debt ceiling, while the rating agency Moody’s has threatened to review the USA’s AAA rating.
LIVE
US government bonds put on 'negative' watchlist by S&P
The very benchmark of government financial reliability – the US Treasury bond – is given a talking-to by Standard & Poor’s.
# Federal Reserve
Federal Reserve leaves rates unchanged for 20th month
The rate stays at between 0 and 0.25% – where it’s been since December 2008 – and will stay there for an “extended period”.
# Double Dip?
Bernanke: Recovery will take longer than we thought
The Fed chairman says it’s going to be a slow return – but dismisses talk of a double dip.