Federal reserve

FEDS SLASH INTEREST RATE A HALF-POINT; STOCK MARKET HITS ALL-TIME HIGH IN RESPONSE

Update September 19, 2024 -- The stock market closed at all time highs across the board today, in response to yesterday's interest rate cuts by the Federal Reserve. The Dow Jones Industrial Average jumped over 500 points today, closing above 42,000 points for the first time in American history. The S&P 500 also closed at a record high, closing at 5713.64, the most ever.

By Miriam Raftery

September 18, 2024 (Washington D.C.)  -- In good news for homebuyers and other borrowers, the Federal Reserve today lowered interest rates by a full half percentage point.  It’s the first interest rate reduction since 2020 and more than the quarter point reduction that most market analysts had predicted. That brings rates down to between 4.75% and 5.25%, Forbes reports.

Moreover, Fed staff forecasts another cut in November or December, and potentially more cuts in 2025.

Fed Chairman Jerome Powell said of the economy,  “You see growth at a solid rate. You see inflation coming down. You see a labor market that’s still at very solid levels,” adding that he does not anticipate any recessionary effects from the lower Fed rates.

The Fed controls the federal funds rates (interest charged on cash reserve transactions between banks). But the central bank’s rate decisions typically spur lenders to lower rates, which could impact everything from car loans to credit card rates and student loan interest.


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ECM WORLD WATCH: GLOBAL AND NATIONAL NEWS

October 18, 2012 --  (San Diego’s East County) – ECM World Watch helps you be an informed citizen about important issues globally and nationally. As part of our commitment to reflecting all voices and views, we include links to a wide variety of news sources representing a broad spectrum of political, religious, and social views. Top world and U.S. headlines include:

U.S.

  • Fresh signs of U.S. housing recovery (BBC)
  • This is the biggest economic story in the world ( Business Insider)
  • Man arrested after plotting federal reserve bomb, authorities say (CNN)
  • Women’s issues move to forefront after debate (Washington Post)
  • Romney’s missteps on Libya may hurt criticism of Obama foreign policy (Washington Post)
  • Obama edges Romney in second debate: Poll (CBS)
  • Conservatives assail debate moderator Crowley (CBS)

WORLD

  • Report: Syria using widely banned cluster bombs (Christian Science Monitor)
  • Israel parliament to hold new election (UT San Diego)
  • Russia moves to prosecute leader of protests (Reuters)
  • Thousands of British troops to leave Afghanistan in 2013 (Reuters)
  • Thousands march in Spain to protest austerity (UT San Diego)
  • French president proposes banning homework (ABC News)
  • Firefox 16: latest upgrade taken offline due to security (BBC)

Read more for excerpts and links to full stories.


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Support community news in the public interest! As nonprofit news, we rely on donations from the public to fund our reporting -- not special interests. Please donate to sustain East County Magazine's local reporting and/or wildfire alerts at https://www.eastcountymedia.org/donate to help us keep people safe and informed across our region.

ECM WORLD WATCH: GLOBAL AND NATIONAL NEWS

September 6, 2012 --  (San Diego’s East County) – ECM World Watch helps you be an informed citizen about important issues globally and nationally. As part of our commitment to reflecting all voices and views, we include links to a wide variety of news sources representing a broad spectrum of political, religious, and social views. Top world and U.S. headlines include:   

U.S.

        GENERAL NEWS

  • The way ahead: U.S. hands of war to Afghan troops (UT San Diego)
  • Sorry savers, interest rates set record lows (ABC News)
  • Federal  Reserve audit finds $16 trillion in secret loans  (Senator Bernie Sanders, author of amendment requiring the audit)
  • Residents impacted by Isaac return home (CBS News)
  • National Conference of American Indians opposes Dept. of Interior fast-tracking on renewable energy projects near Colorado River
  • Are small businesses being heard this election year? (Entrepreneur)
  • Dumped by home insurance after a disaster?  (BankRate.com)
  • VA phone calls won’t solve massive problems (The Reno dispatch)

        PRESIDENTIAL ELECTION

WORLD

  • More than 100,000 Syrians flee in one month (CNN)
  • 7.6 quake in Philippines triggers tsunami alert (CNBC)
  • Syrian rebels hit back at Assad’s air power (Reuters)

Read more for excerpts and links to full stories.


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Support community news in the public interest! As nonprofit news, we rely on donations from the public to fund our reporting -- not special interests. Please donate to sustain East County Magazine's local reporting and/or wildfire alerts at https://www.eastcountymedia.org/donate to help us keep people safe and informed across our region.

THOUSANDS, INCLUDING EAST COUNTY RESIDENTS, HEAR RON PAUL AT UCSD

 
" I can tell you that we are winning a tremendous battle ... for the hearts and minds of the American people who are sick and tired of what they are getting out of Washington, D.C."--Ron Paul
 
By Nadin Abbott
 
May 8, 2012 (La Jolla, California) -- Ron Paul may trail Mitt Romney in the delegate count 865-93 (after scoring the majority of delegates in the Maine and Nevada Republican conventions over the weekend).  But to his legions of loyal followers, the Libertarian-leaning Republican presidential candidate is still a winner.

 


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WILL POWER REPORT: GOP WINS, FED RELEASES MONEY

Nothing but the Truth!
 

By Will Power

 

November 4, 2010 (San Diego)--For those of you that do not think the banking industry makes up the Fourth branch of government- ponder this. The day after the GOP won the house, the Fed announces $600 billion in new loans to banks.


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Support community news in the public interest! As nonprofit news, we rely on donations from the public to fund our reporting -- not special interests. Please donate to sustain East County Magazine's local reporting and/or wildfire alerts at https://www.eastcountymedia.org/donate to help us keep people safe and informed across our region.