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Looks like the economy could have used that 45 billion in lost interest income the Fed turned over to the tsy.
0 rates and QE don’t seem to be all their cracked up to be.
> (email exchange)
> On Tue, Jan 12, 2010 at 4:46 PM, wrote:
In December, the Mortgage Brokers Association anticipated an already staggering 24% drop in mortgage originations, a mere month later they now see the drop to be 40%. And all this occurring with Q.E.’s MBS purchases set to expire in less than 3 months.
For November, the amount of job openings dropped back to 2009 lows, at 2.4 million, dropping by 156,000 from October. After hitting a previous low in July, and gradually showing a moderate improvement, the last two months have killed that inflection point.
From the BLS:
There were 2.4 million job openings on the last business day of November 2009, the U.S. Bureau of Labor Statistics reported today. The job openings rate was little changed over the month at 1.8 percent. The openings rate has held relatively steady since March 2009. The hires rate (3.2 percent) and the separations rate (3.3 percent) were essentially unchanged in November. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector by industry and geographic region.