Friday 27 August 2010

U.S. Economy Slowed to 1.6% Pace in 2nd Quarter

NYT
"In a speech Friday morning, the chairman of the Federal Reserve, Ben S. Bernanke, said that he expected the economy to continue on a growth track, “albeit at a relatively modest pace.”He also indicated that the Fed would be willing to resume large purchases of longer-term debt if the economy worsened. Such moves could have the effect of lowering mortgage rates. Although rates are already at historic lows, economists suggest that lower rates could eventually spur some home-buying or at least refinancing, which gives households more cash to spend."

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