Video: Federal Reserve Says Banks Will Tighten Credit Terms

The Federal Reserve released quarterly survey results today that showed banks are expecting to tighten credit terms. In reaction to a new law to protect consumers from unexcited rate hikes, the Fed said banks will hike rates, cut credit limits, and raise annual fees for borrowers with good and risky credit alike.

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Video - Bernanke: Economy should grow later in 2009

Federal Reserve Chairman Ben Bernanke told Congress Tuesday that the economy should pull out of a recession and start growing again later this year, but warned that unemployment is expected to remain high.

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Video - Money Minute: Beige Book, FDIC, Oil

The Federal Reserve's new snapshot of nationwide business activity showed the economic picture darkening over the last two months and revealed little hope for a quick turnaround. The AP's Mark Hamrick reports.

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Video - Bernanke: Economy suffering 'severe contraction'

Federal Reserve Chairman Ben Bernanke told Congress Tuesday the economy is suffering through a 'severe contraction' and pledged to use all available tools to lift the country out of the recession.

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Video - Bernanke: More govt action needed

Federal Reserve Chairman Ben Bernanke said that fiscal stimulus alone may not be enough to alleviate a worsening economy. Bernanke said a U.S. stimulus could give a significant boost, but that the government could consider additional capital injections. Meanwhile, the U.S. trade gap shrank to $40.4 billion, marking the biggest contraction in twelve years. Diane King reports from New York.

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Video - Your Money: Lower Interest Rates And You

Just because the Federal Reserve is cutting interest rates, don't expect your credit card company to necessarily do the same. AP Personal Finance Editor Trevor Delaney takes a closer look.

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