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We like to think that when we deposit a dollar at the bank, it goes into a big vault and we can pull out that same dollar at any time. But that¿s not how the U.S. banking system works. Banks take that money and invest it to make money themselves, so cash gets spread around. This, naturally, leads to a big risk: What happens if those investments go sour? Well, you¿d be out of luck. You can¿t get your dollar back.
The Federal Reserve doesn¿t like that scenario, so it prohibits banks from putting all the cash it has on deposit on the line. In fact, the Fed forces banks to keep a portion of their assets at the Federal Reserve itself, to make sure that some of your assets won¿t get squandered if the bank¿s bets go south. These are called ¿reserves,¿ (hence, Federal Reserve. Got it? Good), and usually amount to 10% of the total cash kept in checking accounts.
These reserves are never exactly 10%, and banks like to keep a little extra in reserve ¿ not, as you might think, to make you more comfortable that they¿re in good financial shape, but rather so they can take that excess and lend it to other banks and make money off it. (They¿re banks, they can¿t help themselves.) The rate at which they make these loans is called the Federal Funds rate, which is set by the Federal Reserve¿s Federal Open Market Committee.
When you hear people chattering about how the Fed cut or hiked interest rates, this is what they¿re talking about: the interest rate banks can charge for lending money from their reserves. This begs the question: If these are essentially loans between banks, why is the Fed Funds rate so important for the rest of the economy?
Well, simply put, because loans make the financial world go round. Bank A lends Bank B $10,000 at a Fed Funds rate of 5%. Bank B then lends out $10,000 to a small business at 7%. The small business then takes that money and expands the business and hires new workers. Now someone is employed, Bank B has made interest off the loan, and Bank A is the richer for making it all happen. It¿s perhaps overly simplistic, but you get the idea. When you want the economy to thrive, you make lending cheaper.
Of course, sometimes you don¿t want the economy to thrive. In fact, you might want it to cool down, mostly to avoid money flooding the system and causing inflation. In that case, the Fed raises interest rates, making it difficult to lend or borrow.
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Friday, May 09, 2008
Cleanse, Firm, and Exfoliate - Actifirm(R) Returns to QVC
Comtex
DALLAS, May 9, 2008 /PRNewswire via COMTEX News Network/ ----Actifirm(R), a leading manufacturer of science-based skin care using natural botanicals, announced today it is scheduled to return to QVC for its first one-hour show on Saturday, May 10 at 7 AM (ET).
(Photo: http://www.newscom.com/cgi-bin/prnh/20080509/LAF030)
As a part of the debut, Elysiann Bishop, president of Actifirm, will present four new items in addition to the currently offered Actifirm 10% Z-Peel(R) and Actifirm Face Firm(TM). The products scheduled to be offered include:
-- Actifirm 10% Z-Peel -- mimics nature's processes to exfoliate dead skin cells without excessive irritation (QVC Item #A13426) -- Actifirm Face Firm -- a firming gel that helps reduce the appearance of fine lines and wrinkles (QVC Item #A84459) -- Actifirm Renovation Cream -- helps increase skin moisturization, firmness, elasticity and luminosity while decreasing the appearance of superficial facial lines (QVC Item #A72580) -- Actifirm Renovation Eye Cream -- light cream that increases skin firmness and moisturization around the eye area using a gentle concentrate of herbs and high-tech hydrators (QVC Item #A72560) -- Actifirm Actilash(TM) -- eyelash conditioning product that enhances the appearance of healthy lashes (QVC Item #A84465) -- Actifirm Discovery Kit(TM) -- a four piece kit created especially for QVC offers some of Actifirm's leading products -- Antioxidant Cleanser, Z-Peel, Renovation Serum and Actimoist(R) Booster (QVC Item #A83567)
"QVC is one of the largest multimedia retailers in the world and there is no question they are a critical distribution channel for the beauty industry, so we are thrilled to be expanding our product lineup," says Ms. Bishop. "Most of us have our drawer full of products that promised to restore our youthfulness -- my vision when I created Actifirm was to make products that really work and make them accessible to all women, not just those who could afford professional treatments. Our expanded relationship with QVC is a key part of fulfilling this vision."
"We are excited to expand Actifirm's QVC offerings," said Allen Burke, QVC's director of beauty merchandising. "The line provides our shoppers with the cutting-edge technology of natural, yet highly effective skin care products."
Actifirm products are currently available through QVC at 800.345.1515 or http://www.QVC.com while supplies last.
About Actifirm:
Actifirm treatments and products are based on natural botanical ingredients and are designed to restore, protect and maintain the skin of women of all ages. Under the leadership of its founder, Elysiann Bishop, Actifirm has become one of the country's foremost innovators in the field of beauty products and professional skin care treatments.
Actifirm Labs is an all-natural skin care laboratory, which researches and processes natural botanical ingredients. Grounded in solid, methodical clinical research, the enterprise operates two laboratories which allows Actifirm to handle its own processing, formulating, and packaging ensuring the company can offer the highest-quality and freshest products to the market.
SOURCE Actifirm
http://www.actifirm.com
Copyright (C) 2008 PR Newswire. All rights reserved
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