The market expected the announcement of the end of quantitative easing Wednesday, putting an end to a more than two-year-old asset purchase program. Now the market is left to adjust for where the next step could potentially be.
The Federal Open Market Committee meeting minutes are just minutes away from being revealed, potentially announcing the end to Quantitative Easing. Former Federal Reserve Chairman Alan Greenspan said he doesn’t think the Fed can unwind years of extraordinary stimulus without causing turmoil in financial markets.
Federal Reserve Chair Janet Yellen is set to testify before the Senate committee on Tuesday and Senator Charles Schumer (D-N.Y.) told MarketWatch what he plans to ask Yellen when she’s in the hot seat.
"Despite speculation running high on a halt in the taper, none of the above is likely to change the Fed’s intent to continue to taper straight into the fall. Hindsight may prove that the decision to taper was premature," BofAML analysts state.
The increases are significant and not exemplary of the economic austerity expected with the looming budget crisis expected by some. So can the administration be forgiven for spending a little, but remaining austere most of the time?
HUD’s objectives are sometimes distributed by factors ranging from politics, socio-economic disparities and even natural disasters. When American homeowners fall victim to any of these elements, HUD is not only there to offer a helping hand, but often serves as the tool that leads to recovery.