- To hear FRBNY President Bill Dudley describe things, it's hard to believe the U.S. had any economic growth at all in the 200+ years prior to the invention of the home equity loan. He places a sizable portion of the blame for the current sluggish recovery on the horror of homeowners deciding not to borrow against their homes for a vacation, or granite counters, or that new Yukon Denali.
- Turning to the outlook, he says economic conditions - particularly inflation - do not warrant an aggressive response from the Fed.
- Full speech
- ETFs: SHY, BIL, VGSH, SHV, SCHO, SST, DTUS, TUZ, DTUL, RISE, GBIL