Fed's emergency loans decline further

This article discusses the Fed's recent activity, including their interest rates and several housing programs. At the peak of the financial crisis emergency borrowing from the Fed averaged around $100 billion. Recently that number has dropped to around $11.5 billion and just this past weak it dropped almost 10% more to less than $11 billion, emphasizing how far we've come and that we are still making progress. Along these same lines, the Fed made a decision last week to keep the discount rate between 0 and .25%. The Fed has also decided to put an end to many programs formed during the height of the financial crisis, citing their balance sheet report for justification. Many of the programs have slowed to the point of not being worthwhile. Among the programs being shut down is purchase program for mortgage-backed securities. The Fed's plan to purchase more than $1 trillion of these securities has almost been realized. Many people speculate that the program needs to continue, and many think it has done its job. Just in case, though, the Fed has said that if the housing industry needs more help the program can be reopened.