U.S. Economy
Jobless claims jump unexpectedly to 16-year high
(AP)
20 Nov 2008 at 9:03am
AP - New claims for unemployment benefits jumped last week to a 16-year high, the Labor Department said Thursday, providing more evidence of a rapidly weakening job market expected to get even worse next year.
Fed sharply lowers forecasts, hints of rate cut
(AP)
19 Nov 2008 at 3:13pm
AP - The Federal Reserve on Wednesday sharply lowered its projections for economic activity this year and next, and signaled that additional interest rate reductions may be needed to help combat the worst financial crisis to jolt the country in more than a half-century.
US home construction sinks to new record low
(AP)
19 Nov 2008 at 1:34pm
AP - Construction of new homes plunged last month to the lowest level on records going back nearly 50 years as U.S. builders slashed production while Wall Street nosedived.
Treasury pays $33.56B to 21 banks
(AP)
17 Nov 2008 at 6:32pm
AP - The government said Monday it has supplied $33.56 billion to 21 banks in a second round of payments from the $700 billion rescue program, and announced a deadline for another 3,800 banks to apply for funds.
(AP)
17 Nov 2008 at 4:30pm
AP - Treasury pays $33.56 billion to 21 banks in second round of disbursements from rescue fund.
Fannie, Freddie, home loan banks control $6.8T
(AP)
17 Nov 2008 at 4:16pm
AP - Federal housing finance agencies hold or guarantee $6.8 trillion in debt — the equivalent to more than half of the government’s total debt.
Treasury bills fall to record lows at auction
(AP)
17 Nov 2008 at 4:14pm
AP - Interest rates on short-term Treasury bills fell in Monday’s auction with rates on both three-month and six-month bills dropping to the lowest levels on record.
Inventories fall in September by most in 3 years
(AP)
14 Nov 2008 at 10:07am
AP - Businesses cut back on their inventories by a larger-than-expected amount in September, a possible sign of falling confidence in the face of a worsening economic slump.
October budget deficit hits record of $237.2B
(AP)
14 Nov 2008 at 6:33am
AP - The federal government began the new budget year with a record deficit of $237.2 billion, reflecting the billions of dollars the government has started to pay out to rescue the financial system.
Banks, investment firms borrow less from Fed
(AP)
13 Nov 2008 at 4:44pm
AP - Banks and investment firms reduced borrowing from the Federal Reserve’s emergency lending program over the past week, although demand for the loans remains elevated.
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