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Wednesday, September 20, 2006
Federal Reserve May Leave Rates Alone For Now, Bond Prices Up "The Federal Reserve could keep benchmark interest rates steady for some time given its focus on pulling down inflation, said Paul McCulley, managing director of the bond fund PIMCO," according to a Reuters report. "The hurdle to starting an easing process is high, because the Fed actually does want to see softer employment growth," McCulley said in a research note released on Wednesday." I imagine that sounds less than comforting to all of those who are currently under-employed and unemployed. Those already struggling beneath the burdens of mortgages and credit card debt are in for some serious struggle, for although -- for right now -- oil prices are dropping, there are other serious economic concerns, such as the fact that housing starts fell again. The Detroit Free Press reports "the slump in housing, which fueled growth for half a decade, is now so deep that it raises concerns the rest of the economy could be dragged down with it." Our national economy also faces the eventual repercussions insane levels of federal borrowing and the interest rates on that money. How long will the other nations we borrow from continue to sustain us? It's hard to say... but, it is definately high time for individuals to start considering how they are going to sustain themselves. Blogger News Network is advertiser-supported, and your visits to our advertisers help BNN to meet its expenses. Help keep us afloat! posted by Sharon Secor at 11:22 AM |
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