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Global Investing News
FOMC Meeting Offers No Solutions; First Wells Fargo Loss Since 2001; Total Buys Oil-Sands Explorer; AT&T Posts 4Q Decline; Boeing to Double Job Cuts; Time Warner Cuts 700 Jobs; UBS Reduces Bonuses; Ford’s Fourth-Quarter Loss
- The Federal Open Market Committee yesterday (Wednesday) left its benchmark Federal Funds rate at a range of 0% to 0.25%. “Industrial production, housing starts, and employment have continued to decline steeply, as consumers and businesses have cut back spending,” the FOMC said in statement. “Furthermore, global demand appears to be slowing significantly.” The Fed said that it continues to “purchase large quantities of agency debt and mortgage-backed securities,” and…
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