Saying that the U.S. economy “has continued to pick up,” the Federal Reserve is keeping short-term interest rates at record lows but slightly scaling back an unprecedented program to buy nearly $1.5 trillion of mortgage bonds.

“Activity in the housing sector has increased over recent months (and) household spending appears to be expanding, but remained constrained by ongoing job losses, sluggish income growth, lower housing wealth and tight credit,” the Fed’s interest-rate committee said today in announcing the moves.

Comments (4)

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KayT9

  ?   +2 0

how is this good news for people still out of work...the real issue is the 20 plus million Americans who are unemployed....that number is much higher when you include people that have given up or had to settle for part-time work...for information on salaries being paid by companies, SalaryFor.com http://www.salaryfor.com/ offers a free and extensive database of what job seekers can expect in terms of pay. you can post your own salary or view others for free.

 

Posted 2 weeks ago  Reply  Permalink Report Abuse

trout4me replying to KayT9

  ?   0 -1

Hate to say it, but Joe Biden was right when he said it is all about that 3 letter word, JOBS.

 

Posted 2 weeks ago  Reply  Permalink Report Abuse

whatasituation

  ?   0 0

In '59 the Fed Funds Rate was about 1@1/2% to 3% and a 30 year, 3% fixed rate, Mortgage was available with NO points in the Boston area! NOW is STILL Rip-Off time for home mortgage rates!

 

Posted 2 weeks ago  Reply  Permalink Report Abuse

uttahcee replying to whatasituation

  ?   0 0

Back then the goverment was not running a 2 trillion dollar yearly defiect.. Plus it was the local bank that lend out the money, now a days we have too much Goverment Freddie and Fannie. They arecurently 4 to 7 trillion in the red.

 

Posted 2 weeks ago  Reply  Permalink Report Abuse

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