Economic Indicators

Fed to leave rates “near zero” until 2013

There was no mention of a third round of quantitative easing, but the Federal Open Market Committee has announced it will leave interest rates near zero until at least mid-2013. The Federal Reserve has held rates at just 25 basis points since December 2008. Until today, the Fed had said it would keep it low […]

By Staff |August 9, 2011

2 min read

U.S. still creditworthy: Obama

U.S. President Barrack Obama called on Congress to create more jobs and stimulate the economy, while dismissing Friday’s downgrade of the U.S. credit rating by Standard & Poors. “We didn’t need a rating agency to tell us we need a balanced long-term approach to deficit reduction,” he told reporters. “Markets will rise and fall. But […]

By Wire services |August 8, 2011

1 min read

Fed, FDIC still accept U.S. debt

Despite the downgrade of the U.S. government’s credit rating, its bonds remain solid in the eyes of regulators. Almost immediately after the downgrade, the Federal Reserve and the Federal Deposit Insurance Corporation released a joint statement directed at banks, savings associations, credit unions, and bank and savings and loan holding companies. “For risk-based capital purposes, […]

By Staff |August 8, 2011

1 min read

Currency markets shrug off U.S. downgrade

The historic decision by Standard & Poor’s to downgrade the U.S. credit rating may have created scandalous headlines, but currency markets were quick to price it in—shockingly in favour of the greenback. And that trend may continue, according to industry participants in the Canadian financial market. From a currency standpoint, the first-ever downgrade of the […]

By Vikram Barhat |August 8, 2011

4 min read