Fed cuts key rates to battle recession
The Federal Reserve lowered the discount rate from 6 percent to 5.5 percent and signaled looser credit as part of a broader effort to curb the U.S. recession. The funds rate was trimmed to 5.75 percent, marking the eighth cut since late October, with analysts predicting small declines in loan rates though few banks immediately dropped their prime rate.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Bush Administration
U.S
Fed
United States
Baltimore area home sales rise signals housing revival
In the first quarter Legg Mason Realty Group tallies 3,185 new homes sold across Baltimore and neighboring counties, up 14 percent from a year ago. T Rowe Price reports record quarterly revenues of 45.6 million, but earnings drop 19 percent. Nationally, new single family home sales up 1 percent in March, still 12.3 percent below year ago. Tokyo shares drift as dollar falls to 137.42 yen.
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Baltimore
Legg Mason Realty Group
Carroll
Harford
Howard
Anne Arundel
Robert Lefenfeld
Legg Mason Reality
Baltimore (Ap
T. Rowe Price Associates Inc
Legg Mason
Leienfeld
Nancy Smith
Ryland Group Inc
Columbia
Ms. Smith
Tokyo
Maryland
Financial World Magazine
Utah
Missouri
Massachusetts
CPA
Ford
General Motors Acceptance Corp
Grain futures mixed on Chicago Board of Trade
CHICAGO AP traders watched wheat futures with mixed results as May and July contracts edged higher while later contracts showed gains. In Washington, prices farmers receive for raw products were nearly unchanged from March to April, though the overall commodity index remained 1.3 percent below a year earlier.
MENTIONED IN THIS ARTICLE
Chicago
Chicago Board of Trade
Washington
Agriculture Department
Department
Agricultural Statistics Board
Auto giants post first quarter losses amid steep recession
General Motors reports a 1.2 billion dollar loss and Ford 884.4 million for the first quarter, the worst in their histories. Combined Big Three losses may exceed 2.5 billion, dimming prospects for a 1991 profit. Overseas results failed to offset North American slumps as plants idle and demand falls.
MENTIONED IN THIS ARTICLE
Detroit
General Motors
Ford
General Motors Corp
Ford Motor Co
Chrysler Corp
David McCammon
Robert Stempel
Europe
South America
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Baltimore Area
Nikkei Down
Con
Commodity Index
Bushel
Auto Industry
Britain
McCammon
Sikkens
ICAR
Rosemont Avenue
Frederick
American Owned
American Operated
Bank of Baltimore
Home Equity Line Dept PU
Mid
the Bank OF Baltimore
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