The economy may be taking baby steps towards recovery, but it looks like the Federal Reserve will most likely keep interest rates at their existing low levels. The committee concluded this in a meeting, and is expected to make an announcement sometime soon. Analysts say that the Federal Reserve is proceeding cautiously and do not want to increase the rates in the short term. [Read more…]
Mortgage Debt Payments Fail to Pick Up Despite Economic Recovery
Statistics show that most consumers are choosing to make their credit card payments over their mortgage payments. Even after the recession is well and truly over, this trend has not changed, which could be a worrying sign for the housing market. [Read more…]
Obama Administration Optimistic About Economic Recovery
According to statements from President Obama’s team of economic advisors, the American economy is recovering slowly but steadily. Last month recorded a moderate rise in employment, and senior advisers to the President said that real progress was being made for bringing down the current unemployment rate, which stands at 9.7 percent. Around 162,000 new jobs were created in the month of March. [Read more…]
SBA’s Lending Program Vital for Economic Recovery
The past year has seen no significant increase in loan disbursements among lending institutions. The good news is that the small business lending market is recording considerable progress, thanks to the legislation that extends the provisions of the American Recovery and Reinvestment Act. [Read more…]
Government Considers Citigroup Stable Enough to Sell Stake
Following reports that the economic recovery is likely to be sustainable, the government has decided to withdraw its backing of Citigroup Inc by selling its stake in the company. The Obama administration stepped in with a massive bailout program to keep the bank afloat during recession, when there was a lot of pressure on many businesses and several were forced to close down. [Read more…]
