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Lee Adler, Aaron Krowne, and Russ Winter discuss the government bubble, the leveling out of the economy, the Fed morphine drip, and a stock market trend built on a false premise. Free preview available.
“Information received since the Federal Open Market Committee met in June suggests that economic activity is leveling out. Conditions in financial markets have improved further in recent weeks. Household spending has continued to show signs of stabilizing but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit. Businesses are still cutting back on fixed investment and staffing but are making progress in bringing inventory stocks into better alignment with sales. Although economic activity is likely to remain weak for a time, the Committee continues to anticipate that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will contribute to a gradual resumption of sustainable economic growth in a context of price stability.”
Housing finance rises 1.1% in June
” The result is the ninth consecutive rise for housing finance, lending weight to the argument of an interest rate increase sooner, rather than later.”
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