Archive for September, 2007
Interest Rate… Cut!!
Saturday, September 22nd, 2007So the big news this week is the 50 basis points interest rate cut in the federal fund rate. The federal fund rate is essentially what banks charge each other to borrow money on overnight, short term loans. The lower the rate is, the cheaper it is to borrow money and the more liquidity is [...]
A Bank Run in England
Monday, September 17th, 2007The Northern Rock bank in England has an uncertain (to say the least) future on the horizon. As reported by multiple news outlets, bank customers have been waiting in excess of two hours to withdraw savings from the bank. As one of the articles explained:
Northern Rock is Britain’s fifth biggest mortgage lender, but customers [...]
The End of Uninterrupted Job Growth
Friday, September 7th, 2007First off, welcome to September. I’m back from my vacation, and I’m slowly but surely getting back into the swing of things.
Second, we all knew this day had to come eventually. The labor department released the new jobs figures for August, and lo and behold, employers eliminated 4,000 jobs in August. The New York [...]