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How The Fed Can Help In Recovery.(ISSUES & INSIGHTS)(EDITORIALS)(Editorial)
Monetary Policy: You've got to hand it to this economy:Despite absorbing one body blow after another -- Hurricane Katrina is only the most recent -- it continues to power its way forward. But we shouldn't be complacent.
The toll that Katrina takes will be staggering. Local officials already put deaths in the thousands, and insurers' first-blush estimate on property damage is $26 billion. But that's almost certain to rise as more details come in.
Still, Katrina comes at a strange time for the economy. It has sustained a number of recent hits -- soaring energy costs, rising interest rates, concerns over global terrorism, slowing auto and home sales, weak gains in money supply -- yet it keeps chugging along.
That was apparent Wednesday, when the Commerce Department reported that GDP in the second quarter expanded at a yearly rate of 3.3% -- respectable, if not spectacular, given the many head winds.
Two factors account for the resiliency: One is President Bush's tax cuts, which added nearly $2 trillion in stimulus after the market meltdown that began in 2000 and the recession that followed in 2001. In retrospect, the cuts seem wiser than ever.
The other is the Fed's decision, after erring in raising interest rates in 1999 and 2000, to slash rates to 40-year lows.
No economy, however, can take a repeated pummeling without some fallout. And it's worth noting that much of the damage inflicted over the past year has been done by things -- such as higher rates and energy prices -- that typically lead the economy by a year or more.
- Perspective On Fed. Economy & Bush/Guest Host Cont., CNNfn.
- News wire article from: The America's Intelligence Wire May 6, 2003 700+ words
...Now for more on the Fed, the economy and what the president...downside for the U.S. economy in the near term...consensus of the Fed statement. It weights...the weakness in the economy and I think the president...right, as is the Fed in its statement...
- FED: ECONOMY IMPROVING.
- Magazine article from: WWD Ramey, Joanna December 1, 2003 700+ words
...Wednesday added another sign that the economy is back in the pink and emphasized...based." The Beige Book, the Fed's periodic snapshot of national...unseasonably warm weather, the Fed said. Specifically in New York...levels." The San Francisco Fed, which covers the West Coast...
- Fed: Economy ambles into the fall.
- News wire article from: Europe Intelligence Wire September 6, 2006 700+ words
...Focus)) WASHINGTON (AFX) - The economy ambled into the fall steadily but...20. Many economists believe the Fed will hold rates steady at the September...to thwart inflation. With the economy slowing, the Fed in early August halted its rate...
- FED: ECONOMY STRONG IN FEB.(Federal Reserve banks)(February)
- Magazine article from: WWD March 10, 2005 700+ words
...Kristi Ellis WASHINGTON -- The economy moved along at a healthy pace in...report revealed Wednesday. "The economy has continued to expand at a moderate pace since the last report," the Fed said. The Fed's 12 district banks, which gather...
- Fed: Economy in a period of expansion.(Business News)
- News wire article from: UPI NewsTrack December 3, 2004 700+ words
...Santomero said Friday the U.S. economy is in a period of sustained...international oil prices, the economy has performed quite well this year." The Fed official, who's currently...Given this scenario, the Fed should continue moving monetary...
- Fed: Economy Continues Excellent Performance.
- Magazine article from: The Bond Buyer Ferris, Craig T. June 18, 1998 700+ words
...00 p.m.) - The U.S. economy continued its excellent performance...in the Dallas district." The Fed said growth is fueled by liberal...construction sector is very strong, the Fed said. Manufacturing is robust...several of those districts, the Fed said prices of goods are largely...
- FED: US economy rebounding from housing slump.
- Newspaper article from: Turkish Daily News February 16, 2007 700+ words
...economy." "Overall, the U.S. economy seems likely to expand at a moderate...from housing diminishes," the Fed chief said. But Bernanke highlighted...the most serious risk for the economy. But he noted that Fed policymakers are holding to their...
- Fed: US economy sinks deeper into rut.
- News wire article from: The America's Intelligence Wire October 15, 2008 700+ words
...action last week, the Fed and other major central...S. _ and the global economy _ into a long and painful...economists believe the Fed might lower its key rate...slowing the overall economy. Retail sales, auto...all turned weaker, the Fed said. The Fed report...
- Analysts fear Fed slowing economy too much.(Chicago Tribune)
- News wire article from: Knight Ridder/Tribune News Service Neikirk, William September 1, 2000 700+ words
...signaled that the economy has slowed in response...Wall Street that the Fed won't be raising...in which the economy reaches a plateau...skepticism that the Fed had brought about...suggested that the economy has entered a "slowdown...colleagues at the Fed time to loosen their...
- Analysts fear Fed slowing economy too much.
- News wire article from: Chicago Tribune (Chicago, IL) September 1, 2000 700+ words
...signaled that the economy has slowed in response...Wall Street that the Fed won't be raising...in which the economy reaches a plateau...skepticism that the Fed had brought about...suggested that the economy has entered a "slowdown...colleagues at the Fed time to loosen their...
