Articles Tagged with economy

Big Banks: Lesson (Un)Learned

Published on: September 30, 2016 | by Savage Villoch Law, PLLC

The Cause

Big banks on Wall Street had been left unchecked for too long and the introduction of sub-prime lending tactics sealed the fate of U.S. financial stability. A culture of smoke-and-mirrors misleading consumers, coupled with a dire lack of regulatory oversight allowed big banks to run rampant.

Years of bad banking tactics caught up with the U.S. economy in 2008, resulting in the worst economic recession seen in the country since the “Great Depression” of the 1930s.

Fed Leaves Interest Rates Unchanged

Published on: September 28, 2016 | by Savage Villoch Law, PLLC

Low Interest Rates Remain

The Federal Reserve has decided to leave interest rates alone for the foreseeable future, according to a report from Reuters. Despite the fact that a target rate-hike was announced last December, the Fed has deferred any increases as part of a long-term plan to reignite the U.S. economy.

President of the Minneapolis Federal Reserve, Neel Kashkari, stated that “the U.S. economy has room to grow before it overheats”.