Bank Failures Down, Fed Stimulus Coming Up?

HousingWire reports one definite sign of good news, and another likely source of good news later this week. The first is there were no bank failures over the weekend. At this time last year regulators had closed 68 banks, but only 40 have been shuttered so far this year. Secondly, MHProNews has learned Federal Reserve Chairman Ben Bernanke will give a speech Friday at Jackson Hole, Wyoming and it is expected he will announce a third round of a major bond buying program as a stimulus to the economy. Minutes released Wed. Aug 22 from the most recent meeting noted member uncertainty about the strength of the economy. “A number of members noted that if the recent modest rate of economic growth were to persist, the economy would be less able to weather a material adverse shock without slipping back into recession,” according to the minutes. Stay tuned.

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