Today the Federal Reserve released the attached statement at the conclusion of their regularly scheduled meeting.
Basically policy is unchanged and the Fed stands ready to take such action as indicated to support the economy and housing market.
The Obama administration is still quiet on their solution for the financial sector, but is said to be working on a plan. In addition to financial sector solution they are working on a nearly $1 trillion stimulus plan.
In coming days, as the administration plan becomes more visible, I will be writing more.
In spite of a spate of bad news, equity markets seem to be stabilizing. Much of the bad news was anticipated and the markets are beginning to look forward to improving conditions. More on that later.
If you have any questions, do not hesitate to call. 503.452.1210