Quick links to a few items I found of interest.
Category Archives: housing
QE3 and beyond
Now that we’ve closed the books on 2012, I thought it might be useful to take a look at where monetary policy has led us over the last four years.
Current economic conditions
I see both dark clouds and rays of hope.
Sluggish U.S. growth continues
The Bureau of Economic Analysis reported today that U.S. real GDP grew at a 2.2% annual rate during the first quarter, down from the 3.0% growth of 2011:Q4, and below the 2.4-2.9% range that the FOMC indicated yesterday it is anticipating for 2012 as a whole. I see some reasons to agree with the Fed that the rest of the year may be slightly better than the first quarter.
Links for 2012-04-14
Quick links to a few items I found interesting.
Autos, housing, and the business cycle
Here I offer some observations on what’s been holding back the recovery.
Home Affordable Refinance Program
Last week the Federal Housing Finance Agency, Fannie Mae and Freddie Mac jointly announced changes to the Home Affordable Refinance Program (HARP) with the goal of making it easier for some households to refinance their mortgages at lower interest rates. Here I offer some thoughts on this proposal.
A weakening economy
Incoming data over the last two weeks paint a consistent picture that the U.S. economy, which had been growing at a disappointingly slow rate, has weakened further.
Looking back at the Great Recession
Some people use the end of December as an opportunity for a retrospective on the year. But I decided to take a look back at the last three years, by way of updating some comparisons I made in April 2009 between the Great Recession and the average characteristics of other postwar recessions.
More thoughts on what to expect from the Fed
There is disagreement within the FOMC. How will it be resolved?