TITLE

FROM THE WIRE

PUB. DATE
December 2008
SOURCE
Las Vegas Business Press (10712186);12/22/2008, Vol. 25 Issue 51, p13
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This section offers news briefs related to global recession as of December 2008. The U.S. Federal Reserve cut the main U.S. interest rate to between zero and 0.25% to ease the effect of the economic crisis. The Organization of Petroleum Exporting Countries (OPEC) agreed to cut oil production by as much as 4.2 million barrels a day from September 2008 to revive prices affected by the low demand for crude. Credit crisis losses and write-downs in the U.S. went beyond $1 trillion as Morgan Stanley marked down the value of mortgage and leverage loans.
ACCESSION #
35961053

 

Related Articles

  • Next Fed Applicant? List Could Be Long One. Sloan, Steven // American Banker;10/14/2008, Vol. 173 Issue 198, p1 

    The article discusses a precedent set by Goldman Sachs Group Inc. and Morgan Stanley. Their transformation into bank holding companies is characterized as a desperate tactic, but it could become a strategy for many institutions looking for shelter from the 2008 financial crisis. It is said that...

  • Discount Window Lending Hits 5th Consecutive High. Sloan, Steven // American Banker;10/17/2008, Vol. 173 Issue 201, p2 

    The article reports that borrowing through the United States Federal Reserve Board's discount window rose to a record $441.8 billion as of October 17, 2008. It was the fifth such record high in five weeks. Nearly a third of the money was sent to investment banks. Although all major Wall Street...

  • Great Recession mostly gone, uncertainty lingers. McCarron, Kathy // Rubber & Plastics News;1/24/2011, Vol. 40 Issue 13, p12 

    The article reports that Great Recession is mostly gone but uncertainty will prevail in 2011 in the U.S. Bill Witte, associate professor emeritus of economics at Indiana University, says that there is uncertainty about the political climate; uncertainty about taxes; uncertainty about commodity...

  • Climbing the mountain: interest rates seem to be near their peak-but will a recession follow? Nagan, Peter S.; Kaufman, Kenneth A. // Banking;Dec78, Vol. 70 Issue 12, p18 

    Discusses the possible increase in interest rates by the U.S. Federal Reserve Board and speculates on recession risks in 1979. Implications of the currency financing program of the government on the rating of interest rates; Details of U.S. policy initiatives for economic decline.

  • AN OVERVIEW OF FINANCIAL CRISES IN U.S. Dzikevicius, Audrius; Zamzickas, Mantas // Economics & Management;2009, p166 

    In this article, most severe U.S. recessions from the Great depression to Dot-com bubble were revealed and analyzed. The most grounded explanation for these economic downturns comes from Austrian business cycle theory. Firstly, U.S. Federal Reserve Board intervenes to the financial market and...

  • Why Fed is set to drop rates. Scherer, Ron // Christian Science Monitor;9/28/98, Vol. 90 Issue 213, p1 

    Reports that the United States Federal Reserve is planning to lower interest rates in September of 1998 because banks in the US are beginning to feel the affects of the financial crises in Asia and Latin America. Size of the reduction that most analysts expect; How lower rates will help both...

  • How to profit from the coming financial meltdown -- part IV. Debus, Keith // Enterprise/Salt Lake City;6/23/2008, Vol. 37 Issue 52, p12 

    The article focuses on the financial meltdown brought about by mortgage crisis in the U.S. The Federal Reserve has direct control over short-term interest rates through controlling the Federal Funds. The prices of long-term securities rise as demand exceeds supply. The relationship between...

  • Alan Greenspan. Shinkle, Kirk // U.S. News & World Report;Mar2009, Vol. 146 Issue 2, p46 

    The article discusses the career of former U.S. Federal Reserve chairman Alan Greenspan, who admitted to not foreseeing the effects of the U.S. financial crisis. According to the author, Greenspan has received criticism from persons such as hedge fund manager Bill Fleckenstein for not applying...

  • Fed slashes interest rates again after US house prices cave in. Pow, Helen // Money Marketing;2/7/2008, p28 

    The article reports that the U.S. Federal Reserve Board has reduced interest rate for its funds recently. The Federal Reserve reduced 50 basis points off its 3.5% fund rates it set the previous week. According to M&G fund manager Richard Woolnough, the Federal Reserve is reducing rates...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics