“Those were the days, my friend, we thought they’d never end….”
As expected, The Federal Reserve (Fed) stopped the printing press putting an end to its historic 6 year quantitative easing, bond buying program Wednesday while keeping its basic guidance of a near zero Federal Funds Rate for a “considerable time.” The Fed said it was confident the US economic recovery would continue despite a global slowdown.
Yesterday the Federal Reserve released its monetary policy statement. The statement was not much different than the previous statement on the outlook of the U.S. economy. However, fireworks began at Federal Reserve Chairman Bernanke’s press conference following the release.
The Fed statement did not mention “tapering” QE3. However during the press conference Bernanke said that if the Fed’s economic forecasts play out, the Fed would begin to taper its purchases of Bonds each month by the … Continue reading
The Fed holds steady…
Yesterday, following the 2-day Federal Reserve Open Market Committee (FOMC) meeting Fed Chief Ben Bernanke spoke at a news conference held at the Federal Reserve headquarters. Bernanke summarized the Federal Open Market Committee statement and its economic forecast.
The Fed has lowered their outlook on growth, inflation and employment. What does that mean? It means they don’t expect it to be as good as previously expected.
The Fed has what is … Continue reading
Throughout the year, mortgage rates have been amazingly low, recently setting a new all-time record low. These uber-low mortgage rates, which have consumers taking advantage of refinancing and home buying, have been the result of ongoing drama from Europe in addition to the sluggish US economy and struggling job market.
After months of rumors, hints, and out-right foretelling, on September 13 the Fed pulled the trigger on quantitative easing, dose #3, dubbed QE3, and we saw mortgage rates fall to … Continue reading