More Fed Speak
Fed Speak calmed unnerved investors and markets today...
Last week, materials pulled back 7%.... U.S. Treasury Secretary Henry Paulson. "The global economy is more than sound" and that global liquidity is high... Oil & Gold both up 1%.
Brokerages have plunged 12% in the last two weeks... Paulson also said the weak U.S. housing market and growing worries about sub-prime lending will not have a major impact on the financial sector or the global economy... Brokerages and financials up 2%....
REITS got pounded last week... Philadelphia Fed President Plosser said that well anchored inflation expectations help monetary policy respond more effectively to shocks
Former Fed Chairman Greenspan's latest assertion there is a "one-third probability" of a U.S. recession this year. REITS up big today...
Benny & The Feds urged Congress on Tuesday to bolster regulation of mortgage giants Fannie Mae and Freddie Mac, and suggested limiting their massive holdings to guard against any danger their debt poses to the overall economy.
Bernanke said that FNMA & FHLMC "continue to represent a potentially significant source of systemic risk."
Fannie Mae is the No. 1 U.S. buyer of home mortgages; its rival, Freddie Mac, ranks as the second-largest buyer. Last week, Freddie Mac announced that it would no longer buy certain risky, subprime mortgages.
Last week, materials pulled back 7%.... U.S. Treasury Secretary Henry Paulson. "The global economy is more than sound" and that global liquidity is high... Oil & Gold both up 1%.
Brokerages have plunged 12% in the last two weeks... Paulson also said the weak U.S. housing market and growing worries about sub-prime lending will not have a major impact on the financial sector or the global economy... Brokerages and financials up 2%....
REITS got pounded last week... Philadelphia Fed President Plosser said that well anchored inflation expectations help monetary policy respond more effectively to shocks
Former Fed Chairman Greenspan's latest assertion there is a "one-third probability" of a U.S. recession this year. REITS up big today...
Benny & The Feds urged Congress on Tuesday to bolster regulation of mortgage giants Fannie Mae and Freddie Mac, and suggested limiting their massive holdings to guard against any danger their debt poses to the overall economy.
Bernanke said that FNMA & FHLMC "continue to represent a potentially significant source of systemic risk."
Fannie Mae is the No. 1 U.S. buyer of home mortgages; its rival, Freddie Mac, ranks as the second-largest buyer. Last week, Freddie Mac announced that it would no longer buy certain risky, subprime mortgages.
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