Stocks Flat After Holiday Weekend
NEW YORK (TheStreet) — Fannie Mae (FNM Quote) and Freddie Mac (FRE Quote) were among the top performers of the financial sector Monday following the Treasury Department’s decision to remove a cap on aid for the government-sponsored enterprises. Fannie Mae and Freddie Mac jumped 21% and 26.2%, respectively, after the Treasury Department Thursday removed the [...]
U.S. lifts $400 billion cap for Fannie, Freddie
WASHINGTON – The government has handed its ATM card to beleaguered mortgage giants Fannie Mae and Freddie Mac. The Treasury Department said Thursday it removed the $400 billion financial cap on the money it will provide to keep the companies afloat. Already, taxpayers have shelled out $111 billion to the pair, and a senior Treasury [...]
Fed to stand pat for ‘extended period’
The U.S. Federal Reserve kept rates unchanged Wednesday. (CBC) The Federal Reserve will keep the federal funds rate between 0 and 0.25 per cent for an “extended period,” the U.S. monetary body said Wednesday. After two days of meetings, policymakers at the central bank said in a statement they expect to keep rates low “for [...]