Editorial Results (free)
1. Fed Survey Finds Economic Growth in All Regions of US
- Thursday, July 16, 2015
WASHINGTON (AP) – The U.S. economy was expanding in all regions of the country in the late spring, aided by strong sales of autos and other consumer goods.
In its latest survey of business conditions, the Federal Reserve said Wednesday that some of its regions reported that lower energy prices were encouraging consumers to shop and eat out more. Growing sales of homes and commercial real estate also boosted the economy.
2. Fed Sees Moderate Economic Growth Around Country This Spring
- Thursday, June 04, 2015
WASHINGTON (AP) – The U.S. economy was growing at a moderate pace in most regions of the country in April and May, as consumers ramped up spending at retailers and auto dealers, the Federal Reserve said Wednesday.
3. Don't Panic, College Seniors: Jobs for Grads Likely to Grow
- Friday, April 17, 2015
WASHINGTON (AP) – The consulting and accounting firm EY is aggressively recruiting on college campuses this spring. The company formerly known as Ernst & Young plans to hire 9,000 graduates from U.S. universities this year, up from 7,500 in 2014. But recruiting isn't as easy as it used to be.
4. Fed Minutes: Officials Split Widely on Rate Hike Timing
- Thursday, April 09, 2015
WASHINGTON (AP) – Fed officials disagreed widely when they met last month on when they would be ready to lift interest rates from record lows.
Minutes of the March 17-18 meeting released Wednesday reveal that several policymakers predicted a rate hike in June, while others concerned about low inflation didn't think a rate hike would be warranted until later this year. Still others said the economy wouldn't be strong enough for an increase until 2016.
5. Yellen: A Rate Increase May Be Warranted Later This Year
- Monday, March 30, 2015
WASHINGTON (AP) – Federal Reserve Chair Janet Yellen said Friday that continued improvement in the U.S. economy means an increase in the Fed's key interest rate could come later this year.
6. Transcripts Reveal Fed Confronting Chaotic Banking System
- Thursday, March 05, 2015
WASHINGTON (AP) – Transcripts of Federal Reserve meetings in 2009 showed central bank officials struggling to contain the worst financial crisis in seven decades and searching for the right policies to halt a deepening economic downturn.
7. Wal-Mart Raises Could Help Lift Pay in Lower-Wage Industries
- Monday, February 23, 2015
WASHINGTON (AP) – The modest raises that Wal-Mart has said it will give its lowest-paid workers provide a glimmer of hope for lower-wage workers in other companies and industries.
Other retailers and some fast food restaurants may now feel compelled to follow suit to retain their workers and attract others to fill openings, economists said.
8. Fed Survey Finds Moderate Economic Growth
- Saturday, January 17, 2015
The U.S. economy was growing at a moderate pace in December and early January, helped by gains in sales of autos and other consumer products, increased factory production and a pickup in tourism in various parts of the country, the Federal Reserve reported Wednesday.
9. Fed Survey Finds Moderate Economic Growth
- Thursday, January 15, 2015
WASHINGTON (AP) – The U.S. economy was growing at a moderate pace in December and early January, helped by gains in sales of autos and other consumer products, increased factory production and a pickup in tourism in various parts of the country, the Federal Reserve reported Wednesday.
10. Fed Survey Finds Moderate Growth Nationwide
- Thursday, October 16, 2014
WASHINGTON (AP) – The U.S. economy was strengthening in most regions of the country in September to early October, helped by gains in consumer spending, manufacturing and commercial construction, according to the Federal Reserve's latest survey of business conditions.
11. US Job Growth Is Rising Solidly, So Why Isn't Pay?
- Monday, October 06, 2014
WASHINGTON (AP) – Where are the pay raises?
Employers in the United States are hiring at a brisk pace. Unemployment has sunk to a nearly healthy rate. Jobs are being filled across a range of industries.
12. Fed Survey Finds Moderate Growth Across the US
- Thursday, September 04, 2014
WASHINGTON (AP) – The U.S. economy strengthened in all regions of the country in July and August, in areas from consumer spending to auto sales to tourism, the Federal Reserve reported in a survey released Wednesday.
13. US Home Price Gains Slow in June
- Wednesday, August 27, 2014
WASHINGTON (AP) – U.S. home prices increased at a slower pace in June – a cooldown that could continue for several more months.
The Standard & Poor's/Case-Shiller 20-city home price index rose 8.1 percent in June from 12 months earlier, according to a Tuesday report. That's down from 9.4 percent a month earlier and the smallest annual gain since December 2012.
14. Yellen: Job Market Makes Fed Hesitant on Rate Hike
- Monday, August 25, 2014
JACKSON HOLE, Wyoming (AP) – Federal Reserve Chair Janet Yellen said Friday that the Great Recession complicated the Fed's ability to assess the U.S. job market and made it harder to determine when to adjust interest rates.
15. Latest Fed Survey Sees Improved Economy
- Thursday, July 17, 2014
WASHINGTON (AP) – The economy kept expanding in all regions of the country in June and early July, helped by strength in consumer spending, a Federal Reserve survey released Wednesday indicates.
16. Downside of Low US Mortgage Rates: Less Selling
- Monday, July 14, 2014
WASHINGTON (AP) — Would-be home sellers across the country are grappling with a once-in-a-lifetime problem: They have mortgage rates so absurdly low it would hurt them financially to sell.
17. Fed Survey: Economy Showing Improvement Across US
- Thursday, June 05, 2014
WASHINGTON (AP) – A Federal Reserve survey shows the U.S. economy strengthening over the past two months in areas from manufacturing and construction to retail sales and bank lending.
Seven of the Fed's 12 regions – Boston, New York, Richmond, Chicago, Minneapolis, Dallas and San Francisco – reported "moderate" growth during the early spring, while the remaining five described growth as "modest," according to the Beige Book survey released Wednesday.
18. US Home Sales Rose 1.3 Percent in April
- Friday, May 23, 2014
WASHINGTON (AP) – Sales of existing U.S. homes rebounded slightly in April, but the pace of buying remained below last year's level.
The National Association of Realtors said Thursday that sales rose 1.3 percent from March to a seasonally adjusted annual rate of 4.65 million. Purchases of homes over the past 12 months have dropped 6.8 percent.
19. A Fading Middle-Class Perk: Lower Mortgage Rates
- Monday, April 28, 2014
WASHINGTON (AP) – For three decades, the U.S. middle class enjoyed a rare financial advantage over the wealthy: lower mortgage rates.
Now, even that perk is fading away.
Most ordinary homebuyers are paying the same or higher rates than the fortunate few who can afford much more.
20. Transcripts Show Fed at Times Slow to Grasp Crisis
- Monday, February 24, 2014
WASHINGTON (AP) – The Federal Reserve agonized in 2008 over how far to go to stop a financial crisis that threatened to cause a recession and at times struggled to recognize its speed and magnitude.
21. Solid US Job Growth Cuts Unemployment to 7 Percent
- Monday, December 09, 2013
WASHINGTON (AP) – The U.S. job market is proving sturdier than many had thought.
Solid job growth in November cut the U.S. unemployment rate to 7 percent, a five-year low. The surprisingly robust gain suggested that the economy may have begun to accelerate. As more employers step up hiring, more people have money to spend to drive the economy.
22. Senate Panel Advances Yellen's Bid to Lead Fed
- Friday, November 22, 2013
WASHINGTON (AP) – A Senate panel on Thursday advanced Janet Yellen's nomination to lead the Federal Reserve, setting up a final vote in the full Senate after lawmakers return from a two-week Thanksgiving break.
23. US Home Prices Rise 12.4 Percent, Most in 7.5 Years
- Wednesday, September 25, 2013
WASHINGTON (AP) – U.S. home prices rose 12.4 percent in July compared with a year ago, the most since February 2006. An increase in sales on a limited supply of available homes drove the gains.
24. Fed Faces Many Uncertainties as It Meets This Week
- Tuesday, September 17, 2013
WASHINGTON (AP) – The Federal Reserve is being engulfed by the one thing it tries to prevent: uncertainty.
Will the Fed take its first step Wednesday toward reducing the extraordinary stimulus it's given the U.S. economy?
25. More Than 350 Economists Back Yellen for Fed Chair
- Thursday, September 12, 2013
WASHINGTON (AP) – More than 350 economists have a signed a letter to President Barack Obama calling on him to nominate Federal Reserve Vice Chair Janet Yellen to be the Fed's next chairman. The letter is designed to draw attention back to Yellen amid signs that Obama is leaning toward nominating his former economic adviser Larry Summers.
26. Fed Survey Finds US Economy Growing Moderately
- Thursday, September 05, 2013
WASHINGTON (AP) – Economic growth held steady across the United States from July through late August, as Americans bought more cars and homes and auto factories added workers.
A Federal Reserve survey released Wednesday showed that all 12 of the Fed's regional banking districts reported modest to moderate growth. That's roughly in line with the Fed's previous survey of those districts from late May through early July.
27. Wells Fargo to Lay Off 2,300 Mortgage Workers
- Friday, August 23, 2013
NEW YORK (AP) – Wells Fargo is laying off workers from its mortgage unit, the latest sign that the mortgage refinancing boom has cooled.
The San Francisco-based bank said it sent 60-day notices to about 2,300 mortgage employees on Wednesday. The layoffs will be at "locations across the country," the bank said in a statement, and a spokesman declined to give details.
28. My Taper Paper
- Wednesday, August 21, 2013
Last week, we discussed the recent upshift in the global economy. The next major moment for the market will occur on Sept. 18 when 65 percent of economists expect that the Fed will announce a “tapering” of its quantitative easing program. The movement in the 10-year Treasury bond interest rate confirms this expectation as rates have now climbed to 2.84 percent, up from 1.6 percent three months ago.
29. Lower Costs Help Lift Wells Fargo's Second-Quarter Profit
- Monday, July 15, 2013
Lower expenses and fewer bad loans helped lift Wells Fargo's second-quarter profit by 20 percent, the company reported Friday.
The cost-cutting and improved loan quality helped the nation's biggest U.S. mortgage lender overcome meager revenue growth.
30. Rising Home, Stock Prices Boost US Confidence
- Wednesday, May 29, 2013
WASHINGTON (AP) — Americans are more confident in the U.S. economy than at any point in the past five years, thanks to surging home values, a brighter job market and record-setting stock prices.
31. Mayor, Banks Revive Program Targeting City’s Unbanked
- Monday, February 04, 2013
It started with a letter. More than two dozen of them, actually. Bankers from around Memphis got a missive from Memphis Mayor A C Wharton Jr. in 2010 that solicited help from bankers like Joe DiNicolantonio, West Tennessee area president for Regions Bank.
32. Transcripts Show Fed Underestimated Crisis in 2007
- Monday, January 21, 2013
WASHINGTON (AP) – Federal Reserve officials in 2007 underestimated the scope of the approaching financial crisis and how it would tip the U.S. economy into the worst recession since the Great Depression, transcripts of the Fed's policy meetings that year show.
33. Federal Reserve Survey: US Economy Growing at Steady Pace
- Thursday, November 29, 2012
WASHINGTON (AP) – A pickup in consumer spending and steady home sales helped lift economic growth in October and early November in most parts of the United States, according to a Federal Reserve survey released Wednesday. The one exception was the Northeast, which was slowed by Superstorm Sandy.
34. Auto Sales Weaken a Bit in Early July
- Monday, July 23, 2012
DETROIT (AP) — The raft of gloomy economic news may be starting to hurt U.S. auto sales.
Industry analysts and dealers said this week that sales during the first half of July slowed a bit from the robust pace in June. But they still were expected to be better than July of 2011.
35. Fed Survey: Growth, Hiring Slowed in Parts of US
- Thursday, July 19, 2012
WASHINGTON (AP) — The U.S. economy expanded modestly in June and early July, but growth and hiring slowed in several parts of the country. The key findings of the Federal Reserve survey echoed the gloomier outlook that Chairman Ben Bernanke offered to Congress this week.
36. As US Economy Steadies, Bank Closings Become Rarer
- Friday, July 06, 2012
WASHINGTON (AP) – Fewer U.S. banks are failing than at any time since the financial crisis erupted in 2008. The healthier banking industry is helping sustain an economy slowed by lackluster hiring, weak manufacturing and Europe's debt crisis.
37. New Fed Voters Likelier to Back Help for Economy
- Wednesday, January 25, 2012
NEW YORK (AP) – If Chairman Ben Bernanke decides the economy needs more help from the Federal Reserve this year, he probably won't face as much resistance as he did last year.
Call it the changing of the guard.
38. Fed Survey Shows Economy Ended 2011 With Strength
- Thursday, January 12, 2012
WASHINGTON (AP) – The final weeks of 2011 were the economy's best since it seemed to be slipping toward recession in late spring – a shot of optimism for 2012.
Consumers spent more freely. Factories made more goods. Americans stepped up travel. And the auto industry enjoyed its best stretch of the year.
39. Fed Survey: Most Areas See Slow to Moderate Growth
- Thursday, December 01, 2011
WASHINGTON (AP) – The economy expanded at a slow to moderate pace over the past two months in most areas of the country, but overall hiring was weak, according to a Federal Reserve survey released Wednesday.
40. US Fed Survey Suggests Hazy Outlook for Economy
- Thursday, October 20, 2011
WASHINGTON (AP) – Most areas of the country reported slight economic improvement in September and early October, according to a Federal Reserve survey of its 12 bank regions. But several regions said a hazier economic outlook is making businesses more cautious and holding back their spending.
41. Lawmakers Seek Probe on Banks' New Debit Card Fees
- Friday, October 14, 2011
WASHINGTON (AP) – Democratic lawmakers are asking the Justice Department to investigate whether Bank of America and other major banks improperly worked together to charge customers new monthly fees for using their debit cards.
42. Bank Earnings to Reflect Slowdown From Q3 Turmoil
- Tuesday, October 11, 2011
NEW YORK (AP) – Investors are bracing for a rough earnings season from banks.
Turbulence in stock and bond markets, combined with waning confidence among business and consumers, hurt banks' business in the third quarter. IPOs were shelved, companies postponed plans to sell bonds, and acquisitions were put on ice. Consumers also held back on spending.
43. Fed Survey: Economy Falters in Several US Regions
- Thursday, June 09, 2011
WASHINGTON (AP) – For the first time this year, the economy has slowed in several U.S. regions, burdened by high gas prices that have weakened consumer spending and crises in Japan that reduced manufacturing output.
44. Fed Survey: Economy Expands Throughout US
- Thursday, March 03, 2011
WASHINGTON (AP) – The U.S. economy expanded in January and early February in all parts of the country, but businesses reported they are under pressure to raise their prices.
A Federal Reserve survey released Wednesday showed that all 12 of the Fed's regions reported growth at a "modest to moderate pace" and it pointed to a pickup in job creation in each.
45. Fed Survey: Economic Growth Picks Up in Most of US
- Thursday, December 02, 2010
WASHINGTON (AP) – The U.S. economy improved this fall as factories produced more goods and shoppers spent more money.
A new survey by the Federal Reserve finds that 10 of the Fed's 12 regions reported economic growth picking up.
46. Cut-Off of Jobless Aid Would Lower Economic Growth
- Wednesday, December 01, 2010
WASHINGTON (AP) – If Congress lets unemployment benefits expire this week for the long-term unemployed, they won't be the only ones to feel the pain. The overall economy would suffer, too.
47. 2 New Fed Members Sworn In; New Aid Weighed
- Tuesday, October 05, 2010
WASHINGTON (AP) – Two new members have been installed on the Federal Reserve, which has enormous power over Americans' pocketbooks.
Janet Yellen becomes vice chairwoman, the Fed's second-highest ranking official, and Sarah Bloom Raskin is now a governor. Both were sworn into their jobs on Monday. They were tapped by President Barack Obama to fill vacancies on the Fed's seven-member board in Washington.
48. Initial Claims for Unemployment Aid Rise to 465K
- Friday, September 24, 2010
WASHINGTON (AP) – The tally of newly laid-off workers requesting unemployment benefits rose last week for the first time in five weeks as the job market remains sluggish.
Initial claims for jobless aid rose by 12,000 to a seasonally adjusted 465,000, the Labor Department said Thursday. Many economists had expected a flat reading or small drop.
49. Romer, Key Obama Economic Aide, Resigning
- Monday, August 09, 2010
WASHINGTON (AP) – Christina Romer, one of President Barack Obama's most pivotal economic advisers, is resigning, a change that comes as the White House struggles to show signs of clear economic gains to a hurting nation.
50. Senate Panel Approves Yellen as Fed Vice Chair
- Thursday, July 29, 2010
WASHINGTON (AP) – A Senate panel on Wednesday approved three of President Barack Obama's picks for the Federal Reserve, including his nomination of Janet Yellen to be the central bank's second-highest-ranking official.
51. Efforts Increased to Reach the ‘Unbanked’
- Friday, July 23, 2010
This spring, Memphis Mayor A C Wharton Jr. announced the launch of “Bank On Memphis,” a financial literacy campaign whose goal is to bring “unbanked” Mid-Southerners into the financial mainstream.
The initiative’s goal is to end the cycle of dependence on money orders, check-cashing services and high-interest payday loans used by low-income individuals, thereby increasing their net worth and accumulation of assets.
52. Obama Selects Yellen as No. 2 at Federal Reserve
- Friday, April 30, 2010
WASHINGTON (AP) — Putting a bigger stamp on the Federal Reserve, President Barack Obama on Thursday chose Janet Yellen as vice chairwoman of the central bank and filled two other vacancies on the board, which has enormous power over Americans' pocketbooks.
53. Wharton, Local Bankers Launch Financial Literacy Push
- Thursday, April 01, 2010
Memphis Mayor A C Wharton Jr. gathered about two dozen bankers and finance professionals in his seventh-floor conference room at City Hall Wednesday to launch an ambitious financial literacy campaign.
54. Wharton, Local Bankers Launch Bank On Memphis
- Wednesday, March 31, 2010
Memphis Mayor A C Wharton Jr. gathered about two dozen bankers and finance professionals in his seventh-floor conference room at City Hall Wednesday to launch an ambitious financial literacy campaign.
55. Yellen: Record Low Rates Needed to Rev Up Recovery
- Wednesday, March 24, 2010
WASHINGTON (AP) - A Federal Reserve official says record-low interest rates are still needed to energize the economic recovery.
Janet Yellen, head of the Federal Reserve Bank of San Francisco and President Barack Obama's top pick to be vice chair of the central bank, says the sluggish recovery she anticipates means unemployment will stay high for years.
56. ‘Bank On Memphis’ to Reach ‘Unbanked’
- Friday, March 19, 2010
Joe DiNicolantonio, West Tennessee area president for Regions Bank, was one of more than two dozen bankers who got a letter from Memphis Mayor A C Wharton Jr. in the past few weeks.
57. Official: Obama Wants Yellen as Fed Vice Chair
- Monday, March 15, 2010
WASHINGTON (AP) - President Barack Obama wants to nominate Janet Yellen, the president of the Federal Reserve Bank of San Francisco, to take over as vice chairman of the Federal Reserve, an administration official said Friday.
58. Yellen: Low Rates Needed to Feed Recovery
- Tuesday, February 23, 2010
WASHINGTON (AP) – Record-low interest rates are still needed to foster the economic recovery and to relieve high unemployment, a Federal Reserve official said Monday.
Janet Yellen, president of the Federal Reserve Bank of San Francisco, is the latest Fed official in recent days to stress that the central bank isn't in any rush to boost borrowing costs for millions of Americans. The remarks come after the Fed took a surprise step Thursday and bumped up the rate banks pay for emergency loans. (See related story above, “Discount Rate Hike Seen as Good Sign for Economy.”)
59. Home Prices Rise Again in October
- Wednesday, December 30, 2009
NEW YORK (AP) – U.S. home prices rose for the fifth month in a row in October, but the recovery continues to be uneven with only 11 of the 20 metro areas tracked showing gains.
The Standard & Poor’s/Case-Shiller home price index released Tuesday edged up 0.4 percent to a seasonally adjusted reading of 145.36 in October from September. Without adjusting for seasonal factors, the index was flat from September.
60. Fed Survey Finds Recovery Gaining Momentum
- Thursday, December 03, 2009
WASHINGTON (AP) - The economic recovery gained traction in late fall as shoppers spent a bit more and factories bumped up production. That assessment Wednesday by the Federal Reserve marked its most upbeat view since the economy tumbled into recession two years ago.
61. Fed Officials Warn Weak Recovery Won’t Spur Jobs
- Wednesday, November 11, 2009
WASHINGTON (AP) – Unemployment likely will remain high for the next several years because the economic recovery won’t be strong enough to spur robust hiring, Federal Reserve officials warned Tuesday.
62. Banks Make Strengthening Moves
- Monday, November 09, 2009
A few months ago, First Horizon National Corp.’s then-chief investor relations officer was named by an industry magazine as the best IR officer among banks with a market capitalization less than $5 billion.
63. Fed Survey Shows US Recession May be Over
- Thursday, September 10, 2009
WASHINGTON (AP) - Economic activity is stabilizing or improving in the vast majority of the country, according to a new government survey, adding to evidence that the worst recession since the 1930s is over.
64. Wells Fargo Posts Q2 Profit, Surpasses Street
- Thursday, July 23, 2009
CHARLOTTE, N.C. (AP) - Wells Fargo & Co. joined other big banks in announcing a big second-quarter profit and tempering the news by reporting it is still contending with losses from failed loans.
65. Hot Flavor: Plain Vanilla
- Friday, July 17, 2009
The Federal Reserve Bank of San Francisco in April reached an agreement with a bank holding company there limiting its activities in several areas, including the payment of dividends.
66. CIT Won't Get Bailout, Raising Bankruptcy Prospect
- Friday, July 17, 2009
WASHINGTON (AP) - CIT Group Inc. shares tumbled more than 70 percent Thursday as its inability to get emergency government funding raised expectations that the commercial lender will file for bankruptcy protection.
67. AP Analysis: Economic Stress Up In Much of Nation
- Tuesday, July 07, 2009
California, Michigan and South Carolina suffered the most financial pain in May as unemployment, home foreclosures and bankruptcies rose, according to The Associated Press’ monthly analysis of economic stress in more than 3,100 U.S. counties.
68. Fed Survey Sees Signs Recession is Easing
- Thursday, June 11, 2009
WASHINGTON (AP) - The economy's sharp downhill slide eased in the late spring and hopes for future business activity improved, suggesting that the worst of the recession has passed.
A Federal Reserve snapshot of economic conditions issued Wednesday found that five of the Fed's 12 regions said that the "downward trend is showing signs of moderating."
69. Fed Survey: Economy Deteriorated in Jan., Feb.
- Thursday, March 05, 2009
WASHINGTON (AP) - After a dismal start to 2009, business people see more pain ahead, expecting no improvement in economic conditions till late this year at the earliest.
Their pessimism was evident in the Federal Reserve's latest snapshot of business activity nationwide. It showed sharp cutbacks affecting both blue-collar jobs that once churned out construction equipment and white-collar professionals like business consultants and accountants.
70. Gov't Looks to Quell Nationalization Fears
- Wednesday, February 25, 2009
WASHINGTON (AP) - The U.S. government on Tuesday sought to quell concerns that the administration is moving toward nationalization of the country's ailing financial system, but said it would provide additional support to banks that do not have an adequate buffer to survive in an even worse economy.
71. Credit Card Protections Considered by Lawmakers
- Friday, February 13, 2009
NEW YORK (AP) - Swiping your credit card would come with dramatic new protections under regulations considered by Congressional lawmakers Thursday.
Among the industry practices blasted at the Senate Banking Committee's hearing was the piling on of hidden fees on consumers. Fees can be incurred for telephone payments, balance transfers, replacing lost cards and cash advances. Card issuers can also hike interest rates for a variety of reasons.
72. Home Prices Post 18% Annual Drop
- Wednesday, December 31, 2008
Home prices dropped by the sharpest annual rate on record in October and there are no signs the housing pain is over, according to a closely watched index released Tuesday.
The Standard & Poor’s/Case-Shiller 20-city housing index fell by a record 18 percent from October last year, the largest drop since its inception in 2000. The 10-city index tumbled 19.1 percent, its biggest decline in its 21-year history.
73. Fed: Economy Darkens Heading into Holidays
- Thursday, December 04, 2008
WASHINGTON (AP) - The country's economic picture has darkened further as Americans hunkered down heading into the holidays, forcing retailers to ring up fewer sales and factories to cut back on production.
74. Recession Fears, Weak Earnings Stoke Stock Selling
- Thursday, October 23, 2008
NEW YORK (AP) – World stock markets sagged again Wednesday as a barrage of weak corporate earnings stoked fears that the government’s financial intervention won’t keep global economies out of recession.
75. Swaggers Turn to Shudders a Year After Market High
- Monday, October 13, 2008
SAN FRANCISCO (AP) – Just a year ago, investors were swaggering as the stock market surged to an all-time high. Now, almost everyone on Wall Street and Main Street seems to be shuddering amid a frightening reversal of fortune that has erased $8.3 trillion in shareholder wealth in the past year.
76. Wells Fargo Plans Wachovia Buy; Regulators OK Deal
- Monday, October 13, 2008
NEW YORK (AP) – Wells Fargo emerged as the apparent victor in the battle for control of Wachovia bank Thursday night, after rival suitor Citigroup broke off talks with Wells Fargo and federal regulators but vowed to have its day in court.
77. Down Market Hits 1-Year Mark with No Clear Bottom
- Thursday, October 09, 2008
CHICAGO (AP) - The bear market that is ravaging investor portfolios is now one of the worst in modern U.S. history and has wiped out more than $7 trillion in shareholder value, with no bottom clearly in sight.
78. Fed to Buy Billions in Short-Term Debt
- Wednesday, October 08, 2008
WASHINGTON (AP) – The Federal Reserve announced Tuesday a radical plan to buy massive amounts of short-term debts in a dramatic effort to break through a credit clog that is imperiling the economy.
79. Federal Reserve Bank Branch Ends Check Processing
- Monday, July 21, 2008
The long-awaited staff cuts at the Memphis branch of the Federal Reserve Bank of St. Louis became a reality over the weekend as 36 check processing employees were formally laid off, slashing its workforce of 136 by about a quarter.
80. Fed Cuts Key Rate by a Quarter-Point
- Thursday, May 01, 2008
WASHINGTON (AP) - The Federal Reserve cut a key interest rate by a quarter-point Wednesday, a smaller move than the aggressive easing it undertook earlier this year. There were signs the Fed may believe it has done enough to prevent a deep recession.
81. Fed: Economy Weakened Further in the Spring
- Thursday, April 17, 2008
WASHINGTON (AP) - The country's economic health deteriorated further in the early spring as shoppers buckled under the strains of the housing and credit debacles and a weaker employment climate.
82. Fed Minutes Show Range of Rate Views From Regional Banks
- Thursday, January 10, 2008
WASHINGTON (Dow Jones/AP) - Reflecting a highly uncertain and divided monetary policy outlook, regional U.S. Federal Reserve banks supported three different scenarios for the discount rate last month, according to December meeting minutes released Tuesday.
83. Fed Seems Poised To Lower Interest Rates
- Tuesday, December 11, 2007
WASHINGTON (AP) - What a difference in economic conditions since the Federal Reserve last met in October.
Credit has become harder to obtain, Wall Street has convulsed again and the housing slump has intensified. And policymakers at the central bank now appear to have changed their minds about the need to drop interest rates again.
84. Federal Reserve Cuts Interest Rate to Help Ease Strain of Housing Slump on Economy
- Thursday, November 01, 2007
WASHINGTON (AP) - The Federal Reserve sliced an important interest rate Wednesday - its second reduction in the last six weeks - to help the economy survive the strains of a deepening housing slump that is likely to crimp growth in coming months.
85. Another Fed Rate Cut Anticipated
- Wednesday, October 31, 2007
WASHINGTON (AP) - The message from Ben Bernanke and his Federal Reserve colleagues is clear: The housing slump will drag on well into next year as credit problems linger. What's not so apparent is how they'll deal with the crisis, although another interest rate cut could come this week.
86. Lenders Raise Bar for Commercial Real Estate After Worries About Loose Underwriting Conditions
- Friday, October 19, 2007
NEW YORK (Dow Jones/AP) - Commercial real-estate lenders, spooked by the collapse in residential housing, are reining in riskier loans on fears that underwriting standards were too loose.
During the last few months, lenders have been requiring significantly more equity to get projects rolling, while the cost of obtaining debt continues to shoot higher. Meanwhile, banks are avoiding making loans to commercial real estate on concerns about the quality of construction and development loans.
87. Economic Signals SuggestProlonged Housing Slump
- Thursday, September 20, 2007
Soaring foreclosure filings and sagging expectations of future home sales among developers raised prospects Tuesday that the worst housing slump in 16 years could drag on into next year.
88. Buyers for Distressed Mortgage Debt are Scarce, But They Exist, Despite Market Downturn
- Wednesday, August 22, 2007
NEW YORK (AP) - Three companies swept up in the struggling credit markets said Monday they sold pieces of themselves or their investments to fund ongoing operations, underscoring how tight those markets still are despite government intervention last week.
89. Federal Home Loan Bank System Opening Cash Spigots to Mortgage Lenders in Credit Squeeze
- Wednesday, August 22, 2007
WASHINGTON (AP) - The Federal Home Loan Bank System has increased low-cost lending to financial institutions in an effort to bolster credit stability.
As the housing crisis worsens and the Federal Reserve has swooped into the market to ensure liquidity, the 12 regional banks are making more cash available to banks and thrifts that make mortgage loans.
90. The Great American Roller Coaster:
- Friday, April 14, 2006
The Memphis real estate market has been on a slight roller coaster ride over the past three years, with mortgage filings dipping and cresting.
Now, the market is back on an upswing.
In the first quarter 2006, there were 14,613 residential and commercial mortgage filings, according to The Daily News Online, www.memphisdailynews.com. That was up from the 13,072 filings in the same period in 2005, but down from the 16,592 filings in the first quarter of 2004. These numbers include first and second loans.
91. Archived Article: Memos
- Wednesday, July 30, 2003
<ephoto> Rear Adm
Rear Adm. Jeffrey L. Fowler was named commander of Navy recruiting following the retirement of Rear Adm. George E. Voelker. Fowler completed a military fellowship in 2002-2003 and is a life member at the Council of Foreign...