Federal Reserve Chairman Ben Bernanke arrives to speak at a news conference Wednesday in Washington, D.C. The Fed cut its economic growth forecasts and said it would keep buying bonds in a bid to keep interest rates down.
If you are trying to buy a home, you just got good news: The Federal Reserve said Wednesday it is not going to try to drive up long-term interest rates just yet.
Stock investors are happy for you. They like cheap mortgages too because a robust housing market creates jobs. To celebrate, they bought more shares, sending the Dow Jones industrial average up 147.21 to an all-time high of 15,676.94.
Originally published on Wed September 18, 2013 5:06 pm
The budget battles in Washington have inspired the need for some verbal gymnastics that have challenged even the most adept doublespeakers at the Pentagon. As one member of the House pointed out today, some Pentagonians have insisted that Congress cannot cut a single additional dollar from defense, without endangering the national defense strategy.