U.S. equity markets rallied Thursday after the Federal Reserve’s plan to provide $2.3 trillion in lending to households and businesses overshadowed a surge in jobless claims. The Dow Jones Industrial Average rose 285 points, or 1.22 percent, narrowly missing gains that would have registered the index’s best week since 1938. The S&P 500 and Nasdaq […]
The Fed Apparently Thinks It’s Going to Lose $454 Billion on Its Wall Street Bailout…
On Thursday, March 26, in the midst of a growing panic on Wall Street over a lack of liquidity for toxic debt, the Federal Reserve Chairman Jerome Powell did something unprecedented. He appeared live on the Today show. His interviewer, Savannah Guthrie, opened the interview by noting that one writer had said that the Fed […]
Wall Street Had Cut 68,000 Jobs and Received Trillions in Emergency Loans Prior to COVID-19 Anywhere in the World…
On March 26 Federal Reserve Chairman Jerome Powell went on the Today show to deliver one message: “There is nothing fundamentally wrong with our economy.” Recently U.S. Treasury Secretary Steve Mnuchin has appeared on the White House lawn to tell reporters that this is nothing like the last financial crisis. Fed regional bank presidents have […]
Stimulus Bill Allows Federal Reserve to Conduct Meetings in Secret; Gives Fed $454 Billion Slush Fund for Wall Street Bailouts…
The U.S. Senate voted 96-0 late yesterday on a massive bailout of Wall Street banks versus a short-term survival plan for American workers thrown out of their jobs – and potentially their homes. The text of the final bill was breathtaking in the breadth of new powers it bestowed on the Federal Reserve, including the […]
This Is the Fear Chart That the Smart Money on Wall Street Is Watching…
The chart that tells you how all of today’s economic troubles are going to end is not the bar graph of new deaths from coronavirus in Italy versus deaths in the U.S. It’s the chart that shows the number of potential deaths among the banks and insurance companies that have gorged themselves on risky derivatives […]
Federal Reserve Announces Unprecedented $1.5 Trillion in Loans to Wall Street Today and Tomorrow…
Making the most unprecedented announcement in the history of Wall Street, the Federal Reserve Bank of New York announced today that it will be offering $500 billion in 3-month repo loans to its primary dealers (Wall Street trading firms) today at 1:30 p.m. That $500 billion comes on top of the $198.10 billion the New […]
Demand for Fed’s Repo Loans Surges Past $100 Billion a Day as 10-Year Treasury Hits Lowest Rate in 149 Years…
Federal Reserve Chairman Jerome Powell certainly has an odd notion of what constitutes an “orderly” market. At his press conference on Tuesday, following the announcement that the Fed was cutting its Fed Funds rate by a half point without waiting for its regularly scheduled meeting when rate cuts are normally deliberated, Powell said that “financial […]
Fed Rate Cut to Boost Homebuyers’ Spending Power…
The Federal Reserve cut interest rates on Tuesday in response to the spreading coronavirus, and that could bring benefits to one sector of the U.S. economy just in time for spring: real estate. Mortgage rates were already low – and the addition of a rate cut could provide an even more attractive opportunity for prospective […]
Federal Reserve Chair Jerome Powell Statement and Press Conference Following 50 Point Fed Drop…
Earlier this morning the Federal Reserve (Fed) announced a .50 drop in their lending rate in response to the potential for economic impacts from the coronavirus. Following the rate cut Federal Reserve Chair Jerome Powell delivered a statement and held a press conference…
Dow, S&P and Nasdaq Score Biggest Gains Ever as Stocks Make Comeback…
U.S. equity markets surged Monday as Wall Street rebounded from its worst week since the financial crisis and has President Trump and U.S. health officials made more progress in developing a plan to combat the coronavirus. The Dow Jones Industrial Average rose over 1,294 points or 5 percent in what is the biggest point gain […]
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