Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (02/10/2010)
* WASHINGTON (2/11/10)—Although the House Financial Services Committee hearing scheduled for Feb. 10 was postponed because of a blizzard that engulfed the Washington, D.C. region, Federal Reserve Board Chairman Ben Bernanke still released his prepared testimony that, in part, previewed what would be the first interest-rate adjustment in more than a year. He also detailed several other steps that might be used to tighten credit.(Bloomberg.com, Feb. 10) Bernanke’s written statement said the Fed may raise the discount rate “before long” as part of the “normalization” of Fed lending. The Fed leader also reiterated a message sent at a recent Federal Open Market Committee meeting--that low rates are warranted “for an extended period.” Bernanke, who just this month started his second four-year term as Fed chairman, said he and fellow policymakers are preparing—at some point--to remove unprecedented monetary stimulus as the U.S. economy is forecast to grow at the fastest pace since 2006...


RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
27 minutes ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
2 hours ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
4 hours ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
4 hours ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
5 hours ago