Fed Sees Economy Stabilizing

5:19 pm EST July 29th, 2009 | News | 8 Comments

Stay tuned…

The U.S. economy is finally showing signs of stabilizing in some regions of the country — especially in parts of the Northeast and Midwest — bolstering hopes of a broader-based recovery this year.

A Federal Reserve snapshot of economic conditions issued Wednesday found that most of the Fed’s 12 regions indicated either that the recession was easing or that economic activity had ‘begun to stabilize, albeit at a low level.’

Topic: ,

Related Posts

«
»

8 Responses to “Fed Sees Economy Stabilizing”

  1. Duros62 says:
    July 29, 2009 at 5:55 pm

    Thank God Obama is President.

    Yeah, I said it.

  2. Wilbur says:
    July 29, 2009 at 8:31 pm

    …even if the recovery is sluggish, or even falters a bit in the coming months.

    Seriously, can you imagine how many different varieties of shit we’d be in if Birdman McCain and his wacky sidekick Sally were in office?

  3. SaveFarris says:
    July 29, 2009 at 8:37 pm

    How many corners is that now?

  4. Duros62 says:
    July 29, 2009 at 8:56 pm

    can you imagine how many different varieties of shit we’d be in if Birdman McCain and his wacky sidekick Sally were in office?

    That’s what I’m saying.

    How many corners is that now?
    Quite a few less than W. turned in Iraq.

  5. Jaim says:
    July 30, 2009 at 1:24 am

    Thing is, based on historical recessions this thing is pretty much playing out as it should so far. But Obama’s stimulus package helped, and will continue to help. Also, he brought a lot of confidence back to the markets and to the economy in general. Let’s not forget that Bush was basically AWOL for the last year of his term, and whenever he spoke about the economy the markets had a bad habit of dropping 500 points or so.

    The GOP had eight years to ravage the American economy, and it looks as if things — if they continue steadily — will make the economy look good again by the end of 2010 (including unemployment, which lags behind market growth).

    So yeah, we’ve got adults back in charge. And the first thing they had to do was clean up yet another Republican disaster. Of course, Obama’s got to take care of the GOP’s unfinished wars in Iraq and Afghanistan as well.

  6. Walker says:
    July 30, 2009 at 11:30 am

    False rally. The Fed is wrong.

    As much as I like Obama, he has really screwed up by appointing Geithner. Geithner still thinks the problem is a liquidity problem. He is a fool.

    The second massive foreclosure waive is coming. Between the option-ARMs and unemployment, we are going to see another massive wave of bank failures. Bank of America will not survive this one.

  7. william says:
    July 30, 2009 at 4:22 pm

    The Fed is wrong…

    You have not and will not see this reported in the mainstream media or discussed by Ben Bernanke, but it is in fact the crux of the problem – the only way “out of the box” is to try to ramp lending somewhere so as to create yet more debt to maintain final aggregate demand. The amount of debt required to do so has gone parabolic and cannot be paid down privately; ergo, the attempt to shift it all to the government via the alphabet soup programs.

    This is doomed to fail despite any transient appearances of success as the amount of debt required to maintain the pulled-forward demand is now growing exponentially.

    Yet there are only two choices: Face this reality, default the debt and accept a 20% or larger GDP contraction, or keep trying to stuff the federal government (since the private sector has hit the wall and cannot absorb any more credit) and when THAT blows up we lose our government and political system.

    The math is irrefutable and Bernanke is fully aware of it, as are the wonks in Wahington DC.

    They simply don’t care about the truth…

    http://market-ticker.denninger.net/archives/1273-The-Idiocy-Of-The-Media,-Fed-And-Government.html

  8. Gabriel McKee says:
    July 31, 2009 at 3:40 am

    Bernake is garbage.