{"id":193006,"date":"2009-01-28T18:45:00","date_gmt":"2009-01-28T23:45:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/01\/28\/economics-update-293\/"},"modified":"2009-01-28T18:45:00","modified_gmt":"2009-01-28T23:45:00","slug":"economics-update-293","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/01\/28\/economics-update-293\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<p>Well, the FOMC meeting ended, and they relased statement saying that <a href=\"http:\/\/www.cnbc.com\/\/id\/28893636\">they will stay at zero interest rates for some time<\/a>.<\/p>\n<p>Additionally, they are looking at, &#8220;Unconventional Measures,&#8221; which appear to include buying longer term Treasuries.<\/p>\n<p>It appears that one of those steps is that they will <a href=\"http:\/\/news.yahoo.com\/s\/nm\/20090127\/ts_nm\/us_usa_fed_foreclosure\">write down a significant of the mortgage backed securities that they picked up in the Bear and AIG bailouts<\/a>, a sort of voluntary &#8220;cram down&#8221;.<\/p>\n<p>Europe seems to have stabilized, at least for now, with <a href=\"http:\/\/online.wsj.com\/article\/SB123315907376824585.html?mod=rss_whats_news_us\">consumer sentiment steadying<\/a>.<\/p>\n<p>Meanwhile, <a href=\"http:\/\/www.cnbc.com\/\/id\/28889980\">mortgage applications fell sharply<\/a>, as interest rates have risen, from 4.88% at the beginning of the year to 5.22% now, in anticipation of ballooning deficits.<\/p>\n<p>Of course, if <a href=\"http:\/\/www.reuters.com\/article\/businessNews\/idUSTRE50Q79W20090127?feedType=RSS&amp;feedName=businessNews\">reports that Moody&#8217;s is considering cutting GE&#8217;s triple-A credit rating<\/a>, are true, we&#8217;re in for another big shock.<\/p>\n<p>Both <a href=\"http:\/\/money.cnn.com\/2009\/01\/28\/markets\/oil_eia\/index.htm\">oil<\/a> and the <a href=\"http:\/\/money.cnn.com\/2009\/01\/28\/markets\/dollar\/index.htm\">dollar<\/a> inched up today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, the FOMC meeting ended, and they relased statement saying that they will stay at zero interest rates for some time. Additionally, they are looking at, &#8220;Unconventional Measures,&#8221; which appear to include buying longer term Treasuries. It appears that one of those steps is that they will write down a significant of the mortgage backed &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,984,1004,1088,1089,985],"tags":[],"class_list":["post-193006","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-europe","category-finance","category-real-estate","category-recession","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193006"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=193006"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193006\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=193006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=193006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=193006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}