My New Blog

Would you want to be in Federal Reserve Board Chairman Bernanke's shoes right now? Daily, we watch our economy and financial markets collapsing. In the first six months of 2008, our economy has lost almost 500,000 jobs (and so many of them in the mortgage and financial industries). Meanwhile, the stock market has lost almost 15% of its value during this same time frame. Recently, our government took over a major Federal Bank and the Fed had to get involved and offer to back mortgage giants Fannie Mae and Freddie Mac with easy credit. So what is the Fed left to do? Let’s hope the media finds something else to talk about so low interest rates can maintain just a little longer.