Federal Reserve in the Spotlight, Again
Economists focused on the new minutes, but there are more important issues such as the housing market and consumer spending patterns, says Morningstar's Bob Johnson
This week's good news on the housing market and bad news from the manufacturing sector were largely ignored as the Street focused on whether the Fed would take additional easing measures to help the economy.
Home prices were up for the fifth month in a row, according to the Federal Housing Financing Agency, with prices up more than 3% year over year. Both existing home sales and new home sales continued to move up even as inventories remained very tight.
Robert Johnson, CFA does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.