Financial conditions in the U.S. loosened slightly over the past week and remain looser than would be expected at the current stage of the economic cycle, according to the new index from the Federal Reserve Bank of Chicago. Get the full story »
Inside these posts: Federal Reserve
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Despite tractor boom, Deere CEO wary of recovery
Deere CEO Samuel Allen. (AP/Deere)
Federal Reserve officials are correct to worry more about stimulating the U.S. economy than about inflationary price pressures bubbling in the fuel and food sectors, the chairman and chief executive of Deere & Co. said Tuesday.
In an interview, Samuel R. Allen said he worries about the strength of the U.S. recovery even though the farm equipment giant he leads is reaping the benefits of a global farming boom he expects to continue for years. Get the full story »
Fed’s Evans: Investors still expect bailouts
Federal Reserve Bank of Chicago President Charles Evans on Friday said investors may still expect ailing financial institutions to be bailed out by governments despite reforms aimed at reversing market psychology. Get the full story »
Factories boost output for 9th straight month
U.S. factories produced more consumer goods, business equipment and raw materials in March, boosting manufacturing activity for the ninth straight month. Get the full story »
Feds cite 14 banks for mortgage ‘misconduct’
Major U.S. banks and thrifts filed foreclosures with improper documentation and lacked sufficient staff to properly handle distressed borrowers, federal bank regulators said Wednesday as they ordered lenders to overhaul their foreclosure processes. Get the full story »
First Chicago Bank given until June to raise capital
First Chicago Bank & Trust, which has been operating under regulatory scrutiny for more than a year, is “significantly undercapitalized” and has until early June to raise enough money to be considered “adequately capitalized,” according to an April 7 agreement between the Federal Reserve and the $1.02 billion-asset institution. Get the full story »
Higher oil shouldn’t trigger Fed rate hike: Evans
Rising oil prices are unlikely to push up core inflation and thus should not trigger any interest-rate hikes from the U.S. Federal Reserve, according to research from a top Fed official on Monday. Get the full story »
U.S. consumer bureau to impose new rules by Jan.
The new federal agency charged with regulating U.S. consumer financial services will have at least some rules in place by early 2012, according to the White House adviser helping to set up the regulator. Get the full story »
Naperville 5th grader wins financial essay contest
A cautionary tale with a twist ending helped Naperville fifth-grader Charles Tiseo win the 2011 Money Smart Kid award during the Federal Reserve Bank of Chicago’s financial literacy week.
The White Eagle Elementary School student, 11, beat out 116 other entrants with his “Curious Case of Benjamin Budget” story about an poor old man who ignored the lessons of his youth. Get the full story »
Fed to identify banks that drew emergency loans
The Federal Reserve plans to release documents on Thursday identifying financial companies that received Fed loans to survive the financial crisis. Get the full story »
Evans: Fed should complete $600B in bond buys
The U.S. Federal Reserve Bank should complete its planned $600 billion in bond purchases, but probably does not need to do buy additional bonds to support the economy, a top Fed official said on Monday. Get the full story »
Evans: Fed doesn’t need to extend bond-buying
The Federal Reserve should complete its current round of bond-buying, designed to support the recovery, and likely does not need to extend it, Chicago Fed President Charles Evans said on Friday. Get the full story »
Fed, in historic shift, to brief media on policy
Federal Reserve Chairman Ben Bernanke will start holding regular media briefings on monetary policy next month, a historic shift to greater openness at the traditionally secretive U.S. central bank. Get the full story »
Fed tells Bank of America to rein in dividend plan
Bank of America Corp. said it needs to revise its plans to boost dividends in the second half of 2011 after regulators objected to the proposal. Get the full story »
Fed to release loan data after Supreme Court move
The Supreme Court has rejected banks' attempts to shield Federal Reserve lending data. (AP Photo/Manuel Balce Ceneta)
The U.S. Federal Reserve Board on Monday said it is preparing to release sensitive emergency lending data from the peak of the 2008 financial crisis after the Supreme Court rejected a bid by major banks to keep the information secret.
The justices, in a short written order, left in place a 2010 federal appeals court decision that ordered the Fed to identify commercial banks that received emergency loans from the central bank during the crisis. Shortly after the announcement, a Fed spokesman said the central bank would release the information, but didn’t provide a time frame. Get the full story »
