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Bank ETFs Enjoy Fed Blessing

Gerald Conrad March - 21 - 2011

Banks have made quite a recovery since the financial crisis and the Federal Reserve noticed in their latest round of stress tests.  Financial stocks and exchange traded funds celebrated the news by moving up about 1% for the day.

Banks have undergone extensive testing since January by the Fed and passed a second round of stress tests, reports Eric Dash of the New York Times.  Once they passed announcements were made of a return of dividends to shareholders and stock repurchases.

Goldman Sachs announced it is buying back the $5 billion stake it sold to Warren Buffet. J

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Tags: Fed, Fed Blessing
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Fed: Recovery Slow, Short-Term Rates to Remain Low

Marie Conklin August - 9 - 2010

Our smarty-pants friends at the Federal Reserve announced today that they will once again hold its Fed funds rate at the 0 percent to 0.25 percent range. (What the heck is the Fed funds rate and why should I care?)

The following is an official press release from the Fed regarding its decision today and a translation (for the rest of us) from our Chief Quizzologist:

Fed: Information received since the Federal Open Market Committee met in June indicates that the pace of recovery in output and employment has slowed in recent months. Household spending is increasing gradually, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software is rising; however, investment in nonresidential structures continues to be weak and employers remain reluctant to add to payrolls.

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Tags: Fed, Fed Recovery
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