Fed emergency meeting

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March 12 (Reuters) - The U.S. Federal Reserve said it will hold a closed-door meeting of its board of governors under expedited procedures on Monday. The meeting from 11:30 a.m. (0330 GMT) will primarily review and determine the advance and discount rates to be charged by the Federal Reserve banks, the Fed said in a statement. The central bank offered no further details, but the move follows Friday's

In first such move since the Great Recession, the Fed cuts the benchmark interest rate by half a point to offset the economic effects of coronavirus. “The coronavirus poses evolving risks to economic activity,” the Fed said in a statement. “In light of these risks and in support of achieving its maximum employment and price stability goals, the Federal Open Market Committee decided today to lower the target range for the federal funds rate by 1/2 percentage point.” The central bank also said it is “closely monitoring developments and their implications for the economic outlook and will use its tools and act as appropriate to support the economy.” Oct. 8, 2008 As the collapse of Lehman Bros. Holdings Inc. roiled financial markets and raised recession fears, the Fed cut the federal funds rate by 50 basis points to 1.5% as part of a coordinated action. “The Committee took this action in light of evidence pointing to a weakening of economic activity and a reduction in inflationary pressures,” the Federal Open Market Committee said. It would go on to ultimately cut its main rate to as low as 0.25%. Jan. 22, 2008 The Fed cut its key rate by 75 basis points to 3.5% after stock markets tumbled amid increasing signs of a U.S. recession. Policymakers said in a statement that they acted “in view of a weakening of the economic outlook and increasing downside risks to growth.” Aug. 17, 2007 The Fed lowered its discount rate — the rate it charges banks — by 50 basis points to 5.75% as t...

How hawkish will the Federal Reserve be this year? At the moment, Wall Street economists seem to be telling their clients “more hawkish than we thought five minutes ago.” The strong U.S. consumer inflation data reported Thursday has set off what looks like a chain reaction of upward revisions to projected interest rates rises and where the...

Treasury Secretary Janet Yellen will convene the heads of top US financial regulators Friday morning for a previously unscheduled meeting of the Financial Stability Oversight Council. The meeting will be closed to the public, the Treasury Department said in a statement. The Treasury didn’t say what time the meeting would begin, and it wasn’t immediately clear whether the council would issue a statement following the meeting.

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WASHINGTON, Sept 26 (Reuters) - The U.S. Financial Stability Oversight Council will meet on Oct. 3, with the meeting to be presided by Treasury Secretary Janet Yellen, the Treasury Department said on Monday. "The preliminary agenda for the executive session includes an update from staff of the Federal Reserve and the Commodity Futures Trading Commission on financial stability and energy market developments," the department said in a statement, adding that the meeting will have an executive session and a public session.