EconomicCrisis.US

The Federal Reserve is prepared to take action to stimulate growth, a top central bank official said Tuesday.

The Fed could clearly boost the economy if it chose to restart a program of buying long-dated assets, Federal Reserve Bank of New York President William Dudley said Tuesday.

Fed policymakers “have stated their commitment to take further actions to bring interest rates down further, should economic conditions warrant,” Dudley said in prepared remarks to be delivered at the University of Rochester in Rochester, N.Y. His remarks were nearly identical to a speech he gave Monday in Ithaca, N.Y.
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Much has been written about the U.S. housing sector and its impact on the U.S. economy as a whole in the recent past. In fact, no other sector has been as discussed, analyzed and dissected as much as the U.S. housing sector. As the U.S. slowly crawls out of recession mode, analysts as well as skeptics are keeping a keen eye on the housing sector to understand the pulse of the U.S. economy going forward to 2011. There is no denying the fact that home building usually accounts for a substantial part of the bounce in discretionary spending that propel the economy back to full employment during cyclical recoveries. Hence, the U.S. housing sector continues to be a key factor in understanding when the economy will begin to move significantly into some sort of a real recovery zone.
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With all the criticism of stimulus programs and bailouts, North Dakota`s senior senator is defending the federal government`s response to the national economic crisis.

Sen. Kent Conrad held a news conference in Bismarck this morning defending the actions of both the Bush and Obama administrations, as well as Congress, when the economic meltdown hit. But the state GOP questions Conrad`s timing and credibility.

The chairman of the Senate Budget Committee, Conrad, says Congress had no choice but to vote for bank bailouts and stimulus, which he says averted a catastrophe.
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