Washington DC -December 16- The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent.

 Since the Committee’s last meeting, labor market conditions have deteriorated, and the available data indicate that consumer spending, business investment, and industrial production have declined.  Financial markets remain quite strained and credit conditions tight.  Overall, the outlook for economic activity has weakened further.

To read the official statement, CLICK HERE

Washington DC -December 1- The United States is in the midst of a severe financial crisis, and while progress is being made, “the journey ahead will continue to be a difficult one”, Treasury Secretary Paulson said today in Washington DC.

To read Paulson’s remarks, Click Here

Washington, DC -November 23- The U.S. Treasury Department, Federal Reserve and the FDIC have announced an agreement with Citigroup which provides protection against unusually large losses on an asset pool.

To read the joint statement, CLICK HERE

Washington DC - November 12- Following is a statement by Treasury Secretary Paulson regarding the $700 Billion financial Rescue Package:

Good morning. I will provide an update on the state of the financial system, our economy, and our strategy for continued implementation of the financial rescue package.

To read the entire statement, CLICK HERE

For more info, go to:   http://www.treas.gov/

SOURCE: U.S. Department of the Treasury

Washington DC -October 13- Following is a statement from Interim Assistant Secretary for Financial Stability Neel Kashkari Remarks before the Institute of International Bankers:

Good morning and thank you for that kind welcome. I am here today to provide a comprehensive update on the Treasury Department’s progress in implementing the Troubled Asset Relief Program (TARP).

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