Monthly Archives: September 2014

The Federal Reserve announces no change in Monetary Policy 9/19/14

Janet Yellen and the Federal Open Market Committee (FOMC) met this week and announced they will not make any changes at this time to monetary policy.  They made the following statement after the meeting: “The recent data suggests that economic activity is expanding at a moderate pace. Labor market conditions improved somewhat further; however, the unemployment rate is little changed and a range of labor market indicators suggests that there remains significant underutilization of labor resources. Household spending appears to be rising moderately and business fixed investment is advancing, while the recovery in the housing sector remains slow. Longer-term inflation expectations have remained stable.” Continue reading

U.S. Stocks Fall for the First Time in Over a Month – 9/12/14

 

  • U.S. market mostly unchanged this week snapping five straight weeks of gains
  • Russia and Ukraine crisis casts black cloud over global markets as uncertainty remains
  • Payroll numbers disappoint as new jobs increase much less than anticipated
  • August retail sales numbers in line with expectations providing support for consumer spending to continue to rise and aid economic growth

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Home Sales Rise In July – 8/29/14

U.S. Pending home sales climbed last month to the highest level in almost a year. The National Association of Realtors said that the number of contracts signed to purchase previously-owned homes rose for the fourth consecutive month in July, climbing 3.3%.  This was the highest level since August 2013. “Interest rates are lower than they were a year ago, price growth continues to moderate and total housing inventory is at its highest level since August 2012,” said NAR chief economist Lawrence Yun. “The increase in the number of new and existing homes for sale is creating less competition and is giving prospective buyers more time to review their options before submitting an offer.” The most recent data shows that the housing market is returning to more normal conditions after the rapid price appreciation seen over the past two years. Continue reading