{"id":8184,"date":"2009-04-30T02:33:00","date_gmt":"2009-04-30T09:33:00","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=8184"},"modified":"2009-04-30T02:33:00","modified_gmt":"2009-04-30T09:33:00","slug":"the-fed-translated-6","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8184\/the-fed-translated-6\/","title":{"rendered":"The Fed Translated…."},"content":{"rendered":"

Yep, it’s that time again.    The Fed met yesterday and today and came out with their announcement this afternoon at 2:15 pm.   I promise that this one won’t be as long as the last Fed Translated<\/a> was.<\/p>\n

As usual, my comments are in bold and italics…..<\/p>\n

April 29, 2009<\/p>\n

For Immediate Release:<\/p>\n

Information received since the Federal Open Market Committee met in March indicates that the economy has continued to contract, though the pace of contraction appears to be somewhat slower.  The downhill slope is less steep than it was. <\/i><\/b> Household spending has shown signs of stabilizing but remains constrained by ongoing job losses, lower housing wealth, and tight credit. Weak sales prospects and difficulties in obtaining credit have led businesses to cut back on inventories, fixed investment, and staffing. Although the economic outlook has improved modestly since the March meeting, partly reflecting some easing of financial market conditions, economic activity is likely to remain weak for a time.  We aren’t going to see a substantial turn around in the economy soon.  A weak, ambivalent turn around, probably, but not a strong return to growth.<\/b><\/i>  Nonetheless, 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. What else could they say but to say that they anticipate that what they are doing will eventually work?   Would the markets be happy if they said, “We don’t have a clue whether what we’re doing is going to work?”   Nope.<\/b><\/i><\/p>\n

In light of increasing economic slack here and abroad, the Committee expects that inflation will remain subdued. They don’t say for how long, but I’m going to say that I think we’ve got 12 to 18 months until we start seeing a rapid spike in inflation and a rapid jump in interest rates. <\/b><\/i> Moreover, the Committee sees some risk that inflation could persist for a time below rates that best foster economic growth and price stability in the longer term.  Let’s look at that for a minute.   They think that inflation would Read more<\/a><\/b><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Yep, it’s that time again.    The Fed met yesterday and today and came out with their announcement this afternoon at 2:15 pm.   I promise that this one won’t be as long as the last Fed Translated was. As usual, my comments are in bold and italics….. April 29, 2009 For Immediate Release: Information received since […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29,26],"tags":[288],"class_list":{"0":"post-8184","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-lending","8":"tag-the-fed-translated","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":8979,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8979\/the-fed-translated-7\/","url_meta":{"origin":8184,"position":0},"title":"The Fed Translated…..","author":"Tom Vanderwell","date":"June 24, 2009","format":false,"excerpt":"In keeping with my practice of translating the Fed's statements, here goes this one:\"Move along, keep moving, nothing to see here folks!\u00a0\u00a0 Business as usual!\"They didn't do a thing to address the bond market concerns or to allow that things are changing at all.\u00a0\u00a0 Expect mortgage rates to drift up\u2026","rel":"","context":"In "Dirty Laundry"","block_context":{"text":"Dirty Laundry","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dirty-laundry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6769,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6769\/the-fed-translated-4\/","url_meta":{"origin":8184,"position":1},"title":"The Fed Translated…..","author":"Tom Vanderwell","date":"January 30, 2009","format":false,"excerpt":"Tom here\u2026.\u00a0 Sorry for the delay, but better late than never\u2026.. (my comments are in bold) The Federal Open Market Committee decided today to keep its target range for the federal funds rate at 0 to 1\/4 percent. Nothing new there and no surprises.\u00a0 Can\u2019t go lower than zero and\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3284,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3284\/mortgage-market-week-in-review-the-fed-translated\/","url_meta":{"origin":8184,"position":2},"title":"Mortgage Market Week in Review – the Fed Translated….","author":"Tom Vanderwell","date":"June 27, 2008","format":false,"excerpt":"Hi all, I want to thank Greg and Teri and Brian and....everyone for the honor of being invited to hang out with such an esteemed bunch.\u00a0 I'm really excited about it and looking forward to working, talking and \"raising the bar.\" I'll do up a post next week telling a\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7526,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7526\/the-fed-translated-5\/","url_meta":{"origin":8184,"position":3},"title":"The Fed Translated…..","author":"Tom Vanderwell","date":"March 18, 2009","format":false,"excerpt":"Well, it's time to do a little Fed translating again.\u00a0\u00a0 This one was a big one, so settle in and let's translate it.\u00a0\u00a0\u00a0 As usual, my comments are in bold and italics.Release Date: March 18, 2009 For immediate release Information received since the Federal Open Market Committee met in January\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5326,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5326\/the-fed-translated-2\/","url_meta":{"origin":8184,"position":4},"title":"The Fed Translated….","author":"Tom Vanderwell","date":"October 29, 2008","format":false,"excerpt":"The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 1 percent.\u00a0\u00a0 That's the lowest that it's been since June of 2004.\u00a0 If you recall, former Fed Chairman Greenspan is being blamed, in part, for causing the credit crisis by\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3774,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3774\/the-fed-translated\/","url_meta":{"origin":8184,"position":5},"title":"The Fed Translated….","author":"Tom Vanderwell","date":"August 5, 2008","format":false,"excerpt":"As you have probably heard by now, the Fed held rates the same today.\u00a0\u00a0 Here\u2019s their statement (in italics) and my translation (in bold).\u00a0 I hope this helps you understand what is going on. The Federal Open Market Committee decided today to keep its target for the federal funds rate\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/8184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=8184"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/8184\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=8184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=8184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=8184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}