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Posts Tagged ‘ Policy ’

Fed’s Beige Book: “Economic activity expanded moderately”, “concern about trade policy”

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Fed’s Beige Book: “Economic activity expanded moderately”, “concern about trade policy”

Fed’s Beige Book “This report was prepared at the Federal Reserve Bank of Cleveland based on information collected on or before May 21, 2018.” Economic activity expanded moderately in late April and early May with few shifts in the pattern of growth. The Dallas District was an exception, where overall economic activity sped up...
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Update: For Fun, Stock Market as Barometer of Policy Success

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Update: For Fun, Stock Market as Barometer of Policy Success

Note: This is a repeat of a June post with updated statistics and graph. There are a number of observers who think the stock market is the key barometer of policy success.  My view is there are many measures of success - and that the economy needs to work well for a majority of the people...
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Yellen: The Economic Outlook and the Conduct of Monetary Policy

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Yellen: The Economic Outlook and the Conduct of Monetary Policy

From Fed Chair Janet Yellen: The Economic Outlook and the Conduct of Monetary Policy In my remarks today, I will review the considerable progress the economy has made toward the attainment of the two objectives that the Congress has assigned to the Federal Reserve–maximum employment and price stability. The upshot is that labor utilization...
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Question #1 for 2017: What about fiscal and regulatory policy in 2017?

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Question #1 for 2017: What about fiscal and regulatory policy in 2017?

Late last year I posted some questions for 2017: Ten Economic Questions for 2017. I’ll try to add some thoughts, and maybe some predictions for each question. 1) US Policy: There is significant uncertainty as to fiscal and regulatory policy in 2017. This is probably the biggest risk for the US economy this coming...
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Possible Policy Impacts on Housing

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Possible Policy Impacts on Housing

On Friday I posted a few 2017 housing forecasts. I’ll add more forecasts soon. Some of these forecasts may be revised due to the Presidential results and also due to the possibility of higher mortgage rates. Here are some preliminary thoughts on several potential issues for housing over the next couple of years: 1)...
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Yellen: Semiannual Monetary Policy Report to the Congress

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Yellen: Semiannual Monetary Policy Report to the Congress

Federal Reserve Chair Janet Yellen testimony “Semiannual Monetary Policy Report to the Congress” Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. (starts at 10 AM ET).  An excerpt on risks: The latest readings on the labor market and the weak pace of investment illustrate one downside risk–that domestic demand...
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A few comments on dumb policy

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A few comments on dumb policy

Please excuse my frustration … there are frequently honest disagreements on policy, but occasionally there are policies that are almost universally panned. An example of a recent dumb policy was the seller-financed Downpayment Assistance Programs (DAPs) for FHA insured loans. Basically DAPs allowed the seller to provide the buyer – through a 3rd party “charity” –...
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More Housing Policy

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More Housing Policy

Today Freddie Mac announced it is extending the period for forbearance for unemployed borrowers. That is probably just the beginning of a series of policy announcements. Three Fed officials discussed some possibilities today (see WSJ article below), and some sort of REO to rental program seems likely. The revamped HARP for refinancing is just...
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