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Latest Excess reserves Stories

2008-11-18 10:40:31

U.S. Federal Reserve Chairman Ben Bernanke told members of Congress Tuesday the federal equity purchase plan has begun to take hold. The value of the TARP (the Treasury's Troubled Asset Relief Program) has already been demonstrated "¦ and spread to many countries, Bernanke told members of the House Financial Services Committee. Bernanke said combined efforts including the Federal Deposit Insurance Corp.'s guarantee of non-interest bearing bank accounts and expanded Federal Reserve...

2005-09-20 13:25:48

WASHINGTON (Reuters) - The Federal Reserve raised U.S. interest rates on Tuesday for an 11th straight time, saying Hurricane Katrina will provide only a temporary setback to the broad economy. But one policy-maker dissented from the rate-rise vote, saying he preferred to hold rates steady. The rate-setting Federal Open Market Committee voted 9 to 1 to increase the benchmark federal funds rate -- charged on overnight loans between banks and intended to influence credit costs...


Word of the Day
penuche
  • A fudgelike confection of brown sugar, cream or milk, and chopped nuts.
'Penuche' is a variant of 'panocha,' a coarse grade of sugar made in Mexico. 'Panocha' probably comes from the Spanish 'panoja, panocha,' ear of grain.
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