Fed Says Growth Likely To Return
Federal Reserve Chairman Ben Bernanke offered his most optimistic outlook on the economy since the financial crisis began last September. Bernanke, during his Jackson Hole Wyoming speech said, “After contracting sharply over the past year, economic activity appears to be leveling out, both in the United States and abroad, and the prospects for a return [...]
Fed Proposes Changes for Mortgage Lenders
The Federal Reserve took steps to change mortgage broker compensation, improve mortgage disclosures and proposed new rules to bar U.S. mortgage brokers from getting more compensation when offering higher cost loans. Fed Chairman, Ben Bernanke, said during an open meeting of the board, ‘In recent years, consumers have been presented with a wider choice of [...]
Bernanke Expects Housing Recovery
In a closed door session with Senate lawmakers, federal Reserve Chairman Ben Bernanke testified that he expects the U.S. housing market to begin recovery this year. Sen. Pete Domenici (R) said, “He let us believe that the housing situation should begin to ameliorate by the end of the year”. Bernanke signalled that further interest rates [...]
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