Mortgage and Business News » Ben S. Bernanke http://www.100mortgages.org Keep updated on the latest mortgage, global economy and business news Thu, 02 Feb 2012 20:27:50 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Fed direct loans decision and falling oil prices helps the dollar risehttp://www.100mortgages.org/20080708/fed-direct-loans-decision-and-falling-oil-prices-helps-the-dollar-rise/ http://www.100mortgages.org/20080708/fed-direct-loans-decision-and-falling-oil-prices-helps-the-dollar-rise/#comments Tue, 08 Jul 2008 22:38:03 +0000 Peter http://www.100mortgages.org/?p=445
The U.S. dollar has risen slightly against the Euro for the first time in three days, and part of that reason was because of the decision from Fed Chairman Ben S. Bernanke. He said that the decision to extend security dealers’ access to direct loans into 2009 was just a small part of why the dollar rose, along with the price of crude oil prices falling.

Many thought that the dollar would not do that well today as loses was made after the news yesterday over Fannie Mae and Freddie Mac concerns however China’s yuan has managed to remain higher than the dollar.

The U.S. dollar has risen by 0.5 percent to $1.5656 against the Euro, this was from $1.5726 yesterday, these figures were as of 4:08 p.m. in New York. The dollar has gained strength thanks to the Fed being committed to financial stability, Bernanke has said that they have a number of options that they are considering, one of these is to extend the duration of our facilities for primary dealers beyond year-end.

Looking at the dollar since September, the currency has dropped 11 percent against the Euro, since then the Fed has made the first of seven reductions in the target lending rate which is now at 2 percent, this had to be done as to reduce the risk of a housing slump and credit market losses from plunging the U.S. economy into a recession.

The price of a barrel of crude oil for August delivery has fallen for a second day in succession; oil has now dropped by almost 4 percent to $135.92. Just a few days ago crude oil reached a record high of $145.85, let us hope that prices continue to fall for a barrel of crude oil, this will go a long way to help fight of a recession.

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]]> http://www.100mortgages.org/20080708/fed-direct-loans-decision-and-falling-oil-prices-helps-the-dollar-rise/feed/ 0 Federal Reserve to restrict exotic mortgages and high-cost loanshttp://www.100mortgages.org/20080708/federal-reserve-to-restrict-exotic-mortgages-and-high-cost-loans/ http://www.100mortgages.org/20080708/federal-reserve-to-restrict-exotic-mortgages-and-high-cost-loans/#comments Tue, 08 Jul 2008 15:31:12 +0000 Peter http://www.100mortgages.org/?p=441
Federal Reserve chairman, Ben S. Bernanke, has said that with the turbulence in both the housing and financial markets, he has no option but to issue new lending rules next week, this will restrict exotic mortgages and high-cost loans for those who have weak credit.

Bernanke, has also said that the Fed are also considering extending its program of low-cost overnight loans to the nation’s largest investment banks into next year.

This lending program which started back in March was supposed to be a temporary program, which was in response to liquidity problems on Wall Street, following the near-collapse of Bear Stearns.

Mr. Bernanke was at a recent forum in Arlington, Va., which was all about lending for low- and moderate-income households, Bernanke had said that Bear Stearns’s difficulties had highlighted weaknesses in the financial system that policy makers were trying to address.

According to The New York Times, the remarks that the Fed Chairman had said seems to have had reassuring effect on the markets just a day after the surprising drop in the shares of Fannie Mae and Freddie Mac. The shares in both these government sponsored companies were up slightly from yesterday.

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