Fed to rework emergency plan amid fears of recession
The Federal Reserve sharpens its rescue strategy with potential long-term rate cuts and billions in added bank liquidity to prevent a slide in jobs and avert a stalled recovery. Officials discuss direct long-term security purchases and massive lending to banks if shocks hit, aiming to restore investor confidence.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Fed
Alto
Fed Os
David Jones
Alan Greenspan
Central Bank
Treasury
Mark Zandi
Economycom
U.S
Greenspan
New
Fed Board
Lyle Gramley
Bank of Japan
Fewer people relying on credit and car boosting debt
The February report shows consumer credit rising only 1 percent at an annual pace while total debt reaches 1.74 trillion. Nonrevolving borrowing fell sharply amid jitters over war and jobs, even as revolving credit rose 9 percent. Unemployment stood at 5.8 percent with sizable job losses.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Iraq
Richard Yamarone
Argus Research Corp
Fed
Employers show support at work for troops' relatives
Omaha report shows Kris Sands watching Iraq news during break breaks for her Kuwait stationed stepson. Virginia Gov Warner cites flexible e mail for relatives in combat zones. State Farm installed lunchroom TVs. St Francis Medical Center maps deployments. Mitsubishi kiosk features deployed employees in Normal. Corporate efforts center on families left behind and time-off support.
MENTIONED IN THIS ARTICLE
Omaha
Neb
Kris Sands
Iraq
Kuwait
Financial Group
Grand Island
Sands
Virginia
Mark Warner
Carol Thomas
Middle East
Warner
Thomas
Charles Lamphear
University of Nebraska-Lincoln Bureau of Business Research
State Farm
Dick Luedke
St. Francis Medical Center
Mitsubishi Auto
Sandie Sturch
422Ard Army
Sturch
Tara Edwardson
Karina Morales
Steven Jones
Economists warn investors as stock gains loom
Washington economists debate whether the economy has double dipped into recession while investors eye a postwar boost. Merrill Lynch says fundamentals are weak with high unemployment and a topped housing market. others warn a subdued rally could follow war. Fed likely to cut rates despite optimism as war uncertainties linger.
MENTIONED IN THIS ARTICLE
Iraq
Merrill Lynch
David Rosenberg
Baghdad
Fundaentals
Rosenberg
Merrill
Dan Shipley
Steven Wieting
Citigroup Global Markets
Wieting
Standard & Poor
Fed
Lou Crandall
Wrightson Icap
Stocks Rise as Baghdad Advances Lift Markets
US led forces storm Baghdad and seize Saddam’s palace boosting investor hopes for a quick end to the war. Alcoa profits and overseas gains helped lift the Dow 0.3 percent to 8300.41, while Nasdaq rose 0.4 percent to 1389.51 and S&P 500 gained 0.1 percent to 972.93. Analysts warn gains could fade if the war lasts longer.
MENTIONED IN THIS ARTICLE
New York
Baghdad
Alcoa
Dow Jones
Iraq
Michael Palazzi
SG Cowen Securities
Standard & Poor
Saddam Hussein
Ali Hassan al- Majid
Ali
US Bancorp
Piper Jaffray
John Lynch
Evergreen Investments
Lynch
Dow
AOL Time Warner
Morgan Stanley
Dollar rises on Iraq news but gains sputter in New York
The dollar firmed on encouraging Iraqi war news with gains in Tokyo and London, hitting a three month high against the Swiss franc while the euro and other currencies pulled back. In late New York trading the euro traded at 1.0659 dollars, the dollar at 120.23 yen, and the pound weakened to 1.5516 dollars as heavy New York snowfall cooled activity.
MENTIONED IN THIS ARTICLE
New York
Dow Jones/ AP
Iraq
Baghdad
Tokyo
London
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