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Tag Archives: interest rates

Loan interest legislation dies in Senate committee

JACKSON — A bill that would have allowed small lenders to charge more on certain types of loans died with a yesterday deadline for committee action. House Bill 1396 would have increased the allowable interest rates on loans under $1,500 from 36 percent to 99 percent. Supporters say the measure would have given borrowers a lower-cost option to payday lenders. ...

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Economists satisfied with Fed policy — for now

NEW YORK — Economists are satisfied with the Federal Reserve’s current interest rate policy, but they’re divided over how the central bank should proceed over the next 12 months, a new survey finds. The latest semiannual survey by the National Association for Business Economics, set to be released today, also showed that economists are divided over how the government should ...

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Federal Reserve walking policy tightrope

WASHINGTON — Federal Reserve policymakers are pondering ways to jump-start the economic recovery. The trick: making sure whatever they do or say doesn’t rattle Wall Street. U.S. stocks closed higher yesterday as investors anticipated reassuring words or action today by the chairman of the country’s central bank, Ben Bernanke and his colleagues on the Federal Open Market Committee. But early ...

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Fed likely to leave interest rates at record lows

WASHINGTON — To sustain the fragile economic rebound, the Federal Reserve is sure to leave interest rates at record lows and is likely to repeat a pledge to keep them there for a while. The Fed ends a two-day meeting today with policymakers having cause for optimism as well as caution. The economy has been growing again for nearly a ...

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Interest rates soar on rescue plan news

NEW YORK — Interest rates surged in the bond market today after European leaders and central banks around the world agreed to rescue measures to help stem growing debt problems in Europe. European Union leaders and the International Monetary Fund agreed to a nearly $1 trillion aid package that will help weak European countries like Greece that are facing mounting ...

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A mixed blessing

Verdict still out on credit card issues Now that the new credit card law has gone into effect, some are seeing the legislation as a mixed blessing. The CARD Act of 2009, which was signed into law last May, became effective Feb. 22. On one hand, the new law places more restrictions on credit card companies, but the CARD Act ...

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