...Gene Dodaro, who heads the Government Accountability Office (GAO), saying that the TARP gives the Treasury and the Federal Reserve the authority to provide assistance to automakers. The GAO also released a report this week that said the the Bush administration...
...bloc. U.S. antitrust regulators at the Justice Department approved the deal in October but it still needs the backing of the Federal Reserve. Bank of America said it hopes to close the deal in the first quarter of 2009. The all-stock transaction was originally...
...debt and flooding markets with cheap cash, an unsourced report from The Daily Telegraph newspaper said. A chorus of Federal Reserve watchers expect it to its key fed funds rate to zero by January and to expand quantitative measures to pump more liquidity into...
...governments to guarantee bank deposits and scared the pants off consumers and business people. These developments prompted the Reserve Bank to slash its official interest rate in early October, again in November and again this week, cutting it by 40 per cent....
...Bank of New York agreed to lend up to $85 billion to American International Group, AIG. The Board of Governors of the Federal Reserve can vote to authorize a low-cost loan to just about anyone in "unusual and exigent" circumstances, as long as it determines...
...are commonly used by small businesses to cover day-to-day operations including payroll and inventory purchases. Also, the Federal Reserve will soon become the buyer of last resort for commercial paper. By unfreezing the market for commercial paper, which provides...
...of the... Fed Says it Still Has Arrows in its Quiver December 02, 2008 By Dees Stribling, Contributing Editor -- The Federal Reserve has acknowledged that the recession won't be over anytime soon by extending a number of temporary programs designed to deal...
...lawmakers and the Bush administration that the automakers need help too, but deep division about how to go about it. The Federal Reserve could also make a loan to automakers in some circumstances. The Fed is expected to send a letter to Dodd on Friday explaining...
...only pushed the Bush administration and legislators to concur but has also eroded their traditional isolationism: --Federal Reserve creation at the end of October of temporary $30 billion swap lines with the central banks of Brazil, Mexico, South Korea and...
...As they compete with each other for those resources, their prices will rise and interest rates will rise. At this point, Federal Reserve policy will become effective again. As prices and interest rates rise, the liquidity trap disappears and money begins circulating...