Federal Reserve

Feldman Law Center A study recently released by the Fed Reserve Bank of Boston makes it sound like banks may not be that inquisitive about executing loan modifications after all. Their conclusion, based primarily on info included in the report from 2007 and 2008, is that banks and other lenders stand to reap more profits, or lose less, by foreclosing on properties instead of modifying the terms on existing mortgages. The report cites that finding as the actual reason for the slow uptake of house loan modifications since the roll out of the Home Affordability and Stability Plan ( HASP ) in late Feb. ... Read Full Story

Paul Volcker, former Chairman, U.S. Federal Reserve Bank Paul Volcker speaks in a voice not quite up to the challenge of transiting his imposing frame. It is the voice of a man with nothing to prove: a leader chosen by acclamation when the Vandals have stood at the Gate. Schooled at Princeton, Harvard and the London School of Economics in liberal arts, political economy and government, Mr. Volcker began his career as a summer research assistant at the Federal Reserve Bank of New York in 1949 and 1950. He returned twice, first as a research economist, then as President in 1975. By then he ... Read Full Story

The slower pace of job destruction is good news,says Paul McCulley,Managing Director at PIMCO,but the rate north of 10 bakes in the cake that the Federal Reserve is gonna be friendly for a very extended period of time,which is very good for price-to-earnings values.The recent employment data reinforce the idea that the recovery will be slow. We're gonna see the extension of various government programs,Mr.McCulley predicts,not a mega-package.If the unemployment rate continues to go up,however,we will see a mega-package in the next 6-12 months.The Fed can be incredibly patient and nurturing of this economy.It is being responsible in being accommodating.Money is being horded,given the ... Read Full Story

Positive signs for San Francisco Real Estate. Commonly known as the Beige Book, this report is published eight times per year. Each Federal Reserve Bank gathers anecdotal information on current economic conditions in its District through reports from Bank and Branch directors and interviews with key business contacts, economists, market experts, and other sources. The Beige Book summarizes this information by District and sector. An overall summary of the twelve district reports is prepared by a designated Federal Reserve Bank on a rotating basis. Full Report . Residential real estate markets remained weak, but signs of improvement continued to be noted. Chicago, Richmond, Boston, ... Read Full Story

Browse > Home / Blog , Daily Updates / Federal Reserve Board - Beige Book Summary for 12/3/2008   Print This Post Posted: December 3, 2008 at 2:13 pm by Chuck   Summary page from the Federal Reserve “Beige book” released December 3rd, 2008 Prepared at the Federal Reserve Bank of Minneapolis and based on information collected before November 24, 2008. This document summarizes comments received from business and other contacts outside the Federal Reserve System and is not a commentary on the views of Federal Reserve officials. Overall economic activity weakened across all Federal Reserve Districts since the last report. Districts generally reported ... Read Full Story