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Federal Reserve

The Takeaway

Federal Reserve Finds Increased Criticism on the Right

Wednesday, August 17, 2011

Texas governor and presidential hopeful Rick Perry is not backing down from his threat against Ben Bernanke and the Federal Reserve. At an event in Iowa on Monday, Perry said that it would be treason if the Fed were to print more money. The Federal Reserve is no stranger from receiving criticism, but where left-wing politicians were formerly it's biggest critics, more recently conservatives like Ron Paul have been lashing out against the Fed.

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WNYC News

A Silver Lining When Markets Are Falling

Wednesday, August 10, 2011

The slow down of the nation's economy does have at least one silver lining for anyone trying to get a mortgage or refinance an existing one.  The average interest rate for a 30-year fixed loan is now 4.43 percent according to HSH.com, a website that tracks mortgage lending across the country.

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The Takeaway

Fed Keeps Interest Rates Near Zero

Wednesday, August 10, 2011

In the wake of Standard and Poor's decision to downgrade the U.S. credit rating, and an economy still struggling to keep its head above water, the Federal Reserve decided yesterday to keep the nation's interest rate close to zero through 2013. The rate has been static for the past two years. The response on Wall Street seemed mixed. At first stocks took a bit of a dive, but they recovered.  The Dow closed up 429 points yesterday after a late rally.

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It's A Free Country ®

What Can the Fed Do to Aid our Economy? Not Much More Than it Already Has

Tuesday, August 09, 2011

The United States Federal Reserve's policy board announced today it will extend its period of extremely low interest rates through 2013 if not longer.

But don't expect that to solve the nation's financial woes.

A macroeconomic look at the U.S. economic slump makes it clear that the Fed is limited in what tools they have to fix the economy, and they have already used most of the tools at their disposal, without much success.

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The Brian Lehrer Show

BoA, QE2, EU: What To Do?

Wednesday, June 29, 2011

Nicole Gelinas, contributing editor of the Manhattan Institute's City Journal and author of After the Fall: Saving Capitalism from Wall Street and Washington, and Simon Johnson, former chief economist of the International Monetary Fund and co-founder of the blog The Baseline Scenario, discuss some of the big economic stories in today's news. The Fed's program known as QE2 is coming to an end -- did it work? Bank of America is planning to pay $14 billion back to investors who lost money on mortgage deals gone bad -- is it enough? And what's going on in Greece, exactly?

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The Takeaway

This Week's Agenda: Debt Ceiling, Economy, Gay Marriage

Monday, June 20, 2011

All the jawing and insult throwing has ceased for the time being as negotiations heat up on Capitol Hill over the debt ceiling. Vice President Joe Biden said there are four meetings scheduled, and "now we're getting down to the really hard stuff." Todd Zwillich, The Takeaway's Washington Correspondent, says Congress would love to get an agreement by the 4th of July—way ahead of the deadline in August. 

As Washington tries to get the debt ceiling squared away, the Federal Reserve will meet on Wednesday to discuss interest rates. Housing numbers have been consistently awful for some time now, with no sense of relief in sight. Charlie Herman, economics editor for The Takeaway and WNYC, looks at what we can expect from Wednesday's meeting, and whether or not it's likely that the Fed will decide to leave interest rates close to zero.

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WNYC News

Financial 411: Did the Fed's Quantitative Easing Work?

Wednesday, June 15, 2011

The Federal Reserve's program to boost economic growth comes to an end on June 30th. Was it a success?

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The Brian Lehrer Show

Opening the Fed

Thursday, April 28, 2011

David Leonhardt, writer of the "Economic Scene" column for the New York Times, discusses yesterday's first-ever press conference by Fed Chairman Ben Bernanke.

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It's A Free Country ®

Opening the Fed

Thursday, April 28, 2011

WNYC
[T]he fact is while he can’t make the economy suddenly feel healthy, [Federal Reserve Chairman Ben Bernanke] could do more than he is currently doing, and he should be doing more than he is currently doing.

David Leonhardt,writer of the "Economic Scene" column for the New York Times, on The Brian Lehrer Show.

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The Brian Lehrer Show

Open Phones: Chairman Ben Bernanke's Press Conference

Wednesday, April 27, 2011

Federal Reserve Board Chairman Ben Bernanke is holding a press conference today. Heidi Moore, Marketplace New York bureau chief, joins us to discuss what questions need to be asked.

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The Takeaway

In Crisis, Federal Reserve Bailed Out Failing Banks

Tuesday, April 05, 2011

During the financial crisis, the Federal Reserve got a lot of flack for handing out big bailouts to major banks like Citibank and JP Morgan Chase, which were deemed "too big to fail." But it turns out that many more banks received funds through the Federal Reserve Bank's so-called “discount window” policy, including investment banks and foreign banks. The names of those banks were released last week, after the Supreme Court ruled in February that under the Freedom of Information Act, the Fed had to make the names and amounts known.

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WNYC News

Financial 411: Supreme Court Hears Wal-Mart Case

Tuesday, March 29, 2011

Fed Votes to Propose New Rules

Federal regulators voted to propose new rules that would prevent banks from dumping risky mortgages on to investors. One would require banks to hold five percent of their mortgage loans on their own books. This is supposed to discourage the kind of risk taking that led to the financial crisis.

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WNYC News

Week Ahead: Japan And the Global Economy

Monday, March 14, 2011

As recovery efforts continue in Japan and rescuers keep searching for the injured, dead and missing, the growing nuclear crisis has the country — and the world — on edge.  Just how successful Japan is at preventing a possible meltdown at the reactors will spell the difference between a short-term, immensely tragic event and a long-term, global disaster.

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WNYC News

Federal Reserve Chairman Says States Needs Bigger Rainy Day Funds

Thursday, March 03, 2011

States and local governments should build up larger "rainy day" funds, Federal Reserve Board Chairman Ben Bernanke said Wednesday evening.

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It's A Free Blog

Stucknation: Disclosure, Democracy, and the Federal Reserve

Monday, January 31, 2011

In Tunisia, Wikileaks’ disclosures of State Department cables describing the self-dealing  of former Tunisian President Zine al-Abidine Ben Ali's regime greased the skids for his exit. Sunlight may be a great antiseptic, but it is also a lubricant to move stuck history right along.

In a few days, the passion of the Tunisian Jasmine Revolution had swept across the Maghreb as far east as Egypt, touching down in Yemen and even the Sudan. The whole world watched as long-suffering people were inspired to put their life on the line to make their own history.

Nowhere has there been a greater need for Wikileaks than at the Federal Reserve. The Fed was created by an act of Congress in 1913 to regulate banking, but it has long been a captive of that industry.

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It's A Free Blog

Financial Crisis: Where's the Outrage?

Thursday, January 27, 2011

In 2008, the bubble popped. The financial crisis sent our economy swirling into chaos and pushed us into this Great Recession. Many Americans lost faith in our private institutions that caused this mess and in our public institutions that should have seen it coming. The fallout shined a light on the double-dealing shell game being played by our financial giants. Unfortunately, they weren’t playing with Monopoly money. The high stakes had high costs: a devastating spike in unemployment, a national foreclosure crisis based on mortgage fraud and depleted pensions and retirement accounts for working Americans.

At least those whose reckless — and potentially criminal — gambles drove us into this ditch got what they had coming…bonuses, a light reprimand and carte blanche to do it all again.

It’s enough to make you so angry you’d consider dumping tea in Boston Harbor.

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It's A Free Country ®

Quantitative Easing, Qualified Unease

Friday, December 17, 2010

I think a lot of people were blindsided by the agreement Obama worked out with congressional Republicans to not only extend the Bush tax cuts but to add on with payroll tax cuts and some business tax cuts, so I think we ended up getting more stimulus than most people would have bet for in the summer. There’s a question of whether that’s a good or a bad thing.

- Jon Hilsenrath, chief economics correspondent for the Wall Street Journal, on The Brian Lehrer Show

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The Brian Lehrer Show

Why the Fed is Sticking with Quantitative Easing

Friday, December 17, 2010

Jon Hilsenrath, chief economics correspondent for the Wall Street Journal, talks about Federal Reserve policy regarding quantitative easing, its effects on inflation, and why the Fed remains optimistic about economic recovery.

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WNYC News

Gold Bugs, Not Bed Bugs, Found in East Village Bar

Tuesday, September 14, 2010

WNYC

When the economic crisis hit, Adam Gold decided to buy a gun, stockpile a year's supply of food and invest in gold. So far, at least one of those investments has paid off.

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WQXR News

Bernanke Gives Economic Update

Friday, August 27, 2010

Federal Reserve Chairman Ben Bernanke says the nation's economic recovery has come a long way since the 2008 financial collapse. But, speaking in Jackson Hole, Wyo. on Friday, he also acknowledged that there's "still some way to travel."

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