The FOMC left rates unchanged for a fifth straight meeting but said the economy is “somewhat firmer”.
Changes: “…Substantial cooling in the housing market” at the last meeting became “some tentative signs of stabilization.”
Language from the last meeting about inflation moderating due to “reduced impetus from energy prices, contained inflation expectations, and the cumulative effects [...]
The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent.
Recent indicators have suggested somewhat firmer economic growth, and some tentative signs of stabilization have appeared in the housing market. Overall, the economy seems likely to expand at a moderate pace over coming quarters.
Readings on [...]
The advance report on GDP for the 4th quarter 2006 was reported at +3.5%, better than the 3% expected by economists:
Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 3.5 percent in the fourth quarter of [...]
There have been a number of articles recently about the business dealings of Bono and U2. All the articles essentially call the band hypocritical for structuring their business affairs to minimize taxes:
Bono’s own dealings haven’t always followed the altruistic ideals he espouses, says Richard Murphy, a Downham Market, U.K.- based adviser to the Tax Justice [...]
