Between the congressional budget drama, debt ceiling deadlines, S&P credit rating downgrades and the fed funds rate announcement, it’s almost dizzying to try to understand what all of this economic activity means for your wallet. The best thing you can do is get back to basics and make sure your finances are ready to weather any financial storm. We cover five personal finance basics that you should always make sure are in order.
Posts Tagged ‘FOMC’
Fed: Recovery Slow, Short-Term Rates to Remain Low
August 10, 2010Our smart friends at the Federal Reserve announced today that they will once again hold its Fed funds rate at the 0 percent to 0.25 percent range. The following is an official press release from the Fed regarding its decision today and a translation (for the rest of us) from our Chief Quizzologist.
Fed Leaves Key Rate Unchanged, Says Economic Recovery Hurt by Problems Overseas
June 23, 2010Our super smart friends at the Federal Reserve announced today that they will once again hold its Fed funds rate at the 0 percent to 0.25 percent range. The following is an official press release from the Fed regarding its decision today and a translation (for the rest of us) from our Chief Quizzologist.
Fed Holds Key Rate, Sees Strength in Economy
April 28, 2010Our smarty-pants friends at the Federal Reserve announced today that they will once again hold its Fed funds rate at the 0 percent to 0.25 percent range. Here’s the official press release from the Fed regarding its decision today and a translation (for the rest of us) from Quicken Loans Chief Economist Bob Walters.
Fed Makes Good on Promise to Keep Rates Low for “Extended Period”
January 27, 2010Our smart friends at the Federal Open Market Committee (FOMC) announced today that they will again hold its Fed funds rate at the 0 percent to 0.25 percent range. (What the heck is the Fed funds rate and why should I care?) While the decision to hold rates at current levels was expected, the dissenting [...]
Fed funds rate stays at 0%; Federal Reserve Press Release Translated
April 29, 2009All the smarty pants who make up the Federal Reserve met today to once again discuss the state of the economy and determine the action needed by them to aid a struggling American economy. One of the main things they do is determine what the Fed funds rate will be. The Fed funds rate is [...]
Federal Reserve Talks, Mortgage Rates Drop
March 19, 2009Fed decided to keep targeting the Fed funds between 0-.25%. In bigger news, they announced they would spend another $1.2 trillion buying mortgage-backed securities and other debts from Fannie Mae.
Fed Targets Rate Near 0%; FOMC Statement Translated
December 17, 2008The 10 brilliant minds who make up the Federal Reserve met yesterday to once again discuss the state of the economy and determine the action needed by them to aid a struggling American economy. The Fed funds rate is one way the Fed uses to regulate the supply of money to the US Economy. In [...]
Fed Lowers Fed Funds Rate to Historically Low 1%
October 31, 2008The 10 brilliant minds who make up the Federal Reserve met yesterday to once again discuss the state of the economy and determine the action needed by them to aid a struggling American economy. In an aggressive move, they lowered another 1/2 percent, resulting in a historically low 1% Fed funds rate. The Fed funds [...]
Fed Holds Rate at 2%; Fed Statement Translated
September 17, 2008he 10 brilliant minds who make up the Federal Reserve met yesterday to once again discuss the state of the economy and determine the action needed by them to aid a struggling American economy. For the 2nd time in a row, they chose to keep the Fed funds rate steady at 2%. The following is [...]
What Does the Fed Decision Mean?
June 25, 2008The Federal Open Market Committee (FOMC) announced today that it is holding the Fed funds rate steady at 2%. But what does that mean for consumers? Quicken Loans Chief Economist breaks it down for us, translating each line of econo-talk to everyday lingo… Federal Reserve Press Release – Release Date: June 25, 2008 For immediate [...]
