The Fed’s Contingency Plan for the Next Recession

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Previous: Spotlight on Financial Services Law Firms Continued Next: Puerto Rico’s Ongoing Housing Recovery Tagged with: Economic Growth housing market 2020 Recession The Fed Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / The Fed’s Contingency Plan for the Next Recession January 28, 2020 1,370 Views Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Subscribe in Daily Dose, Featured, Government, News Related Articles The Best Markets For Residential Property Investors 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Fed’s Contingency Plan for the Next Recession Share Save Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Mike Albanese Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago The Wall Street Journal reported that Federal Reserve Officials are looking at a stimulus scheme last used during and after WWII as part of their contingency plan for the next recession. The Fed capped yields from 1942 to 1951—first on short-term bills and then long-term bonds—to help finance war spending and recovery. During the past three recession, the Fed cut its benchmark rate by around 5 percentage points. The current rate is between 1.5% and 1.75%, which leaves less room to counteract a downturn. Fed officials are unlikely to move this rate during their meetings this week. The Journal states that the Fed’s plan for the next recession will rely heavily on two items it used during the 2007-09 recession—bond purchases, sometimes called quantitative easing, or QE, and forward guidance about plans to hold rates at very low levels for longer than investors expect.The Fed cut interest rates for the third time in 2019 in October, dropping its benchmark lending rate for Federal funds to 1.5% to 1.75%.Doug Duncan, Chief Economist with Fannie Mae, said the Fed cited “implications of global developments,” as the rationale for the cut.Jarred Kessler, CEO of EasyKnock, said that expecting the economy to respond positively to declines in interest rates doesn’t always work out.“Lowering rates doesn’t always have the economic impact we think, or expect it to have because it disrupts the natural economic ecosystem,” Kessler said. “Just look at Japan, it can drive housing growth and a push in the stock market, but other facets of the economy are bound to lose. In the longer term this along with inflation can have a very negative impact.”Duncan, in Fannie Mae’s 2020 economic outlook, said housing will lead economic growth over the next year. “While we believe the strength and resilience of the American consumer is the lynchpin of near-trend GDP growth, this year we expect consumer demand to re-establish housing construction as a significant contributor to economic growth—hence our theme for the year: A resilient economy overcomes risks to drive housing,” said Fannie Mae SVP and Chief Economist Doug Duncan. “Strong labor markets, rising wages, and improved household balance sheets offer consumer spending upside potential, including the ability to withstand minor economic disruptions.”Fannie Mae expects the growing economic strength from housing that emerged in 2019 to carry into the rest of 2020, including solid growth in single-family construction spending and low mortgage rates.Recent studies have indicated that this increased residential construction spending could help limit the negative effects of capital-spending weakness, despite not taking up a large segment of the economy. According to Bloomberg utilizing data from the Atlanta Fed, the stronger U.S. housing market could provide a cushion from the effect of a “derailment” in corporate spending. Economic Growth housing market 2020 Recession The Fed 2020-01-28 Mike Albaneselast_img read more

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Saint Mary’s senior takes on national writing challenge

first_imgWriters across the country will turn the page on another year of NaNoWriMo — short for National Novel Writing Month — on Wednesday.Saint Mary’s senior Mary Brophy said she plans to participate in the month-long writing program.“It is a program where you are racing against yourself to write a novella-length story that is usually around 80 pages long,” she said.  “The cutoff is usually 50,000 words … and if you reach that at the end of the month then you get a series of prizes.”Brophy said she has participated in the program for a number of years.“This is my fifth year doing it,” she said. “I started as a junior in high school and I have been doing it ever since —except [for] sophomore year.”Ultimately, Brophy said, she decided to take on the challenge of NaNoWriMo in order to push herself. She said she used to write with a friend, who encouraged her to try the program.“[Writing novels] is something I really enjoy, so I thought that having the opportunity to really push myself would be a good idea,” she said.Year after year, Brophy said she continues to return to the program because she wants to continue to test her limits.“I decided it would be a good challenge for me to keep on doing it, over and over again [each year] to keep pushing my boundaries of what I think I can write in a certain amount of time,” she said.Brophy said the program has helped her get her ideas from her mind to the page, as the specific timeframe helps her to focus.“Having one month where I say this is the one thing I am going to focus on and then going through that entire story as much as I can is a good release for me to figure out how that story is going to work out.” she said “ … Having that basis there and being able to get out all of the ideas and figure out if the story is going to work at all is good for me.”The program is important for those who cannot start the process of sitting down and writing, Brophy said.“It is a great way for people to really practice their writing and also just to get ideas out,” she said. “I am the kind of person who thinks way too much about what I’m trying to write and I end up putting things off for forever because it never feels like the right time. NaNoWriMo is a great time to put aside those thoughts … and just get words out.”Tags: NaNoWriMo, National Novel Writing Month, writing challengelast_img read more

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Hurricane relief continues

first_imgRecognizing that thousands of hurricane displaced families from Louisiana, Mississippi, and Alabama are now in Florida and many are in need of emergency and long-term legal assistance, The Florida Bar Foundation is encouraging its legal assistance providers to help, according to Foundation President Bill Davis.Meeting in Tallahassee in September, the Foundation’s board authorized Foundation grantees to use 2005 and 2006 grant funds to provide emergency and long-term legal assistance to such displaced families who earn up to 200 percent of the federal poverty guidelines and encouraged grantees to relax or expand their client eligibility guidelines to do so.The board also authorized the Foundation’s staff to support and collaborate with IOLTA programs and other legal assistance programs in Louisiana, Mississippi, and Alabama.The Foundation legal assistance grantees are also being encouraged to consider the need for additional resources to serve the continuing legal assistance needs of victims from the 2004 hurricanes in Florida and those displaced by this year’s storms and to contact Foundation staff for possible Foundation support to help address those needs.Other legal entities in Florida also are continuing to do what they can to help, including: • Ruden McClosky donated $145,270 to the American Red Cross Hurricane 2005 Fund. Checks from the firm’s attorneys and staff were presented to representatives of the American Red Cross Broward County Chapter at the firm’s Ft. Lauderdale office on September 27. “Through a matching funds program, the firm offered to match each partner’s donation dollar for dollar, and for each associate or staff member, the firm matched $4 per each dollar donated,” said David Lane, Ruden McClosky’s executive director. • Florida Coastal Law School in Jacksonville has taken in two Tulane University School of Law students and one Loyola University New Orleans School of Law student. All three students are officially visiting students, and will receive degrees from their original institutions. • Nova Southeastern University’s Student Animal Legal Defense Fund will hold a Katrina Rita Animal Relief benefit at the Interlude Bar & Cabaret at Riverwalk October 23, from 4-7 p.m. All proceeds from any drinks purchased will go to the Humane Society of America to help the animal victims of the past storms, as well as any donations made. The group also will be selling raffle tickets for lots of prizes in the atrium at NSU at various days and times to be announced. • The Palm Beach County Bar, together with the Palm Beach County Medical Society, recently helped raise more than $14,000 for hurricane victims at a cocktail reception held at E.R. Bradley’s in West Palm Beach. The money will be donated to various charities, including the American Red Cross, United Way, Salvation Army, and other organizations geared to assisting hospitals and law firms that have been destroyed by the storm. • Frese Hansen, Attorneys at Law in Brevard County has donated $10,000 to the Salvation Army to assist with food, water, clean-up kits, and financial aid for hurricane survivors. “It’s a disaster no American could ignore,” said partner Gary Frese. “Frese Hansen has a special relationship with the Salvation Army, so they were the avenue we chose to help the people of the Gulf Coast.” • The Jacksonville Bar has asked its members to make contributions through the bar to the American Red Cross-Hurricane Relief. They now have commitments of over $35,000.• The Eighth Judicial Circuit Bar’s Young Lawyers Section organized a September blood drive to benefit the victims of Hurricane Katrina.• The Florida Unemployment Appeals Commission’s staff, reports Chair Alan Orantes Forst, collected about $1,500 in cash and supplies to deliver to the displaced individuals. Hurricane relief continues Hurricane relief continues October 15, 2005 Regular News Florida’s legal community lends its supportlast_img read more

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Defoe realistic over World Cup

first_img As a professional of over 14 years, Defoe knows a lot can change in football in 12 months. This time last season Defoe was on top of the world. The striker had scored twice for England in three appearances and he had nailed down a first-team place at Spurs, where he found the net three times in his opening four matches. The fact that Defoe cut short his summer holidays to spend two weeks in France with fitness guru Tiberius Darau only heightens his disappointment at not playing regularly. “It’s frustrating when you have worked really hard in pre-season,” he said. “A boxer trains for eight weeks before a fight and then on fight night he wants to be ready and perform, but he actually wants take part. “I went away, worked hard and made sure I was fit. I felt sharp and stronger than ever so it’s difficult when you are in and out of the team.” Gareth Bale’s annoyance at the slow pace of transfer negotiations with Real Madrid led him to skip training last month. But with this being his ninth season at Spurs, Defoe’s love for the club means he will not let his frustration get the better of him. “It’s important for me to stay cool and keep focused,” Defoe added. “When players go mad they take their eye off the ball and it’s difficult to come back from that because when you are angry you can’t perform. “There have been times when I have been angry and you are in training and you don’t feel great, but at the same time it’s important for me to keep sharp because if someone gets injured then you are in, so you have to be ready.” The fact that Defoe still has a chart up in the gym that tracks his climb up the Spurs’ top scorers’ list – he is now sixth – suggests his love for the club still remains strong. Another topic close to his heart is the Jermain Defoe Foundation, which he set up in the summer. The foundation is aiming to raise money to build a new children’s home in St Lucia, where his mother Sandra is from. St Lucia was devastated by Hurricane Tomas in 2010, which claimed the lives of 14 people on the Caribbean island. “That was the spark that made me decide I wanted to set up the foundation,” Defoe said. “It’s my second home there. All the kids had their education taken away from them and they are still suffering. Hopefully we can raise some money and change their lives.” Jermain Defoe admits his chances of going to the World Cup will be hampered if he continues to be denied first-team football at Tottenham. Now the picture is quite different. The 30-year-old is yet to start a Barclays Premier League game and he did not feature against Moldova and Ukraine despite the absences of Wayne Rooney, Daniel Sturridge and Andy Carroll. Defoe is desperate to make the cut for what would be his last World Cup, but the Tottenham forward knows his chances of making the plane to Rio – should England qualify – are not being helped by his lack of first-team action. “It’s important for me to play this year,” the striker told Press Association Sport at a fundraising gala dinner for the Jermain Defoe Foundation. “I want to play games because it’s a World Cup year. “Having gone to a World Cup, it’s something you want to experience again as a player. “It’s the best thing ever, representing the country when the whole world is watching, so I understand the importance of actually playing in a World Cup year.” Roberto Soldado has repaid a chunk of his £26million transfer fee by scoring four goals in his first five games since moving from Valencia. Consequently, Defoe’s Premier League game time this term consists of seven minutes at Crystal Palace, nine against Swansea and a 21-minute cameo in the north London derby. Press Associationlast_img read more

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Net Gaming Group sees DACH for the future

first_img Share Martin Lycka – Regulatory high temperatures cancel industry’s ‘silly season’ August 11, 2020 StumbleUpon Submit Mateusz Juroszek – Non-stop STS will expand amid industry disruptions August 12, 2020 Related Articles MoneyMatrix boosts wire transfer options by integrating Klarna’s Sofort August 24, 2020 Share The potential of the Germany betting market has seen another affiliate firm try and position itself as a key gateway for player acquisition. Affiliate operator Net Gaming Europe AB has invested up to €3.5m euro with the ‘strategic acquisition’ of affiliate assets, primarily in the DACH region (Germany, Austria and Switzerland) from Webwiser Gmbh.Known for its comparison websites within iGaming, Net Gaming announced a letter of intent back on 19 April, and has now followed through on the acquisition, declaring that the operations show strong growth and are currently generating quarterly sales of approximately €200,000, with an operating margin of approximately 75%.The initial purchase consideration of €2.29m will be settled with existing cash resources. Payment of a maximum additional consideration of €1.25m may also be required. RB Capital advised Webwiser on the sale of its assets.André Boeck, Founder and CEO of Webwiser, commented: “We are truly excited at finding the right buyer for our business, and are looking forward to work with the team at Net Gaming to take the websites to the next level. With its proven track record and a group of savvy people around, Net Gaming takes a great leap forward to become a major player in performance marketing on the DACH market.”Marcus Teilman, CEO of Net Gaming, explained: “The acquisition strengthens our position in the DACH region. We have identified the DACH region as one of the geographical markets with the highest growth potential in the long run. This transaction will give us further opportunities to grow our existing operations in the region, and also expand these assets to new markets.“Considering the fact the founders will remain and continue to work with the assets for Net Gaming feels truly great, since we have got a great first impression of the said founders.”last_img read more

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Renewal of Certificates of Currency – Season 1, 2014

first_imgTouch Football Australia (TFA) would like to extend to all affiliates its best wishes for the busy season ahead.We also would like to thank you for your ongoing commitment to providing the best possible product and experience to the Touch Football participant and the recognised affiliated pathway to participation.This communication is to outline information related to the TFA National Insurance Scheme Policy.The policy renewal process for Season 1, 2014 is currently being prepared. We feel it is important to canvas with affiliates the process for renewing Certificates of Currency (CoC) at this point in time, to allow preparations and communications to affiliated members’ to commence.The National Insurance Policy Manual, Player Injury Insurance Cover brochure and poster for affiliates is also currently available via the website.To ensure your affiliate can access its Season 1, 2014 Certificate of Currency from late January 2014, all affiliated members must be fully financial and have completed the necessary compliance requirements with regard to Affiliate Regulations as required by your state office. Otherwise, we expect all affiliate certificates to be distributed by Thursday, 30 January 2014. If you require priority access to your certificates, please provide us advanced notice. Please also contact your local state office to confirm your email address.For more information, please click on the attachment below.Related Filesrenewal_of_certificates_of_currency_season_1_2014_jan_2014-pdfRelated LinksCertificates of Currencylast_img read more

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9 days agoMan Utd draw up seven-player shopping list

first_imgTagsTransfersAbout the authorPaul VegasShare the loveHave your say Man Utd draw up seven-player shopping listby Paul Vegas9 days agoSend to a friendShare the loveManchester United have drawn up a seven-player shopping list.The Red Devils are desperate for reinforcements having endured their worst start to a top-flight campaign in 30 years.ESPN says manager Ole Gunnar Solskjaer and chief Ed Woodward have their eyes on seven signings to restore their ailing fortunes.Mario Mandzukic, Bournemouth’s Callum Wilson and Lyon’s Moussa Dembele are the attacking targets.While Declan Rice, John McGinn, James Maddison and Ivan Rakitic are also being eyed to bolster the midfield department. last_img read more

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Nebraska Releases Spring Offense Highlight Video

first_imgnebraska spring offense.nebraska spring offense highlight videoNebraska had a disappointing 2015 season, but after an impressive victory over UCLA in the Foster Farms Bowl, there is hope in Lincoln. Thursday, the program gave fans an interesting inside look at how the team’s offense is progressing this spring.In the below clip, head coach Mike Riley makes it clear that everyone – including the players and the members of his staff – is more comfortable with the team’s scheme in year two of his tenure. He talks about “continuity” being a great thing for the development of football players.O-Block— Nebraska Football (@HuskerFBNation) April 7, 2016Nebraska actually finished 34th overall in total offense in the FBS in 2015. It’s the defensive side of the ball that the team must improve upon in 2016 if it wants to take the next step.last_img read more

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To encourage more use Instagram to allow sharing with fewer

first_imgNEW YORK — Keep your friends close … and your close friends closer?Instagram is adding a feature to make it easier to share photos and videos with fewer folks.Called Close Friends, the new feature lets users share Stories — photos and videos that disappear after 24 hours — with people they put on a special list. The idea is people may feel more comfortable sharing some things with just close friends, rather than all followers.Regular posts would still appear to everyone, though users have the option of pre-approving followers. Facebook already lets people narrow audiences for individual posts, but the Facebook-owned Instagram hasn’t.Social-media companies are quickly learning that bigger audience sizes for users can mean a reluctance to share more personal stuff. So, they are adding ways to communicate with smaller groups. This is why Facebook is beefing up its Groups feature, and why messaging apps are so popular.Robby Stein, product director at Instagram, said the feature took more than a year to complete. It starts rolling out to users Friday.To use it, first create a list of close friends by going to your profile and tapping the icon with three horizontal lines. Instagram will suggest people to add based on how often you interact with them, or you can pick your own.Once that’s done, you can create a story just for those people. Friends aren’t notified when you add them to the list, or if you remove them later, and they can’t request to be added. But they’ll eventually know: Stories they get this way will have a green circle around them, rather than the usual pink.You can create just one Close Friends group, though, rather than separate ones for families, friends and other circles, as you can on the main Facebook service. Stein said Instagram wanted to keep things simple and observed that when there are multiple lists, people don’t tend to use them.Instagram copied the Stories feature from Snapchat years ago and now has more than 400 million people using the feature each day. That’s more than twice the number using Snapchat — not just its Stories feature — each day.Barbara Ortutay, The Associated Presslast_img read more

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Lawsuit filed over fatal Army helicopter crash in Maryland

first_imgHARTFORD, Conn. — The widow of an Army specialist killed in a Black Hawk helicopter crash in Maryland last year and two other soldiers who were critically injured are suing Sikorsky Aircraft in Connecticut, alleging the tail rotor system was defective.The lawsuit was filed Monday in state court in Hartford by Spc. Jeremy Tomlin’s wife, Jessica; Capt. Terikazu Onoda and his wife; and Chief Warrant Officer Christopher Nicholas. The suit seeks unspecified monetary damages.The Sikorsky-manufactured Black Hawk crashed in Leonardtown, Maryland, during a training mission April 17, 2017.The lawsuit blames a major tail rotor malfunction. The three-member crew was stationed at Fort Belvoir, Virginia.A Sikorsky spokesman declined to comment. Connecticut-based Sikorsky is a division of Maryland-based Lockheed Martin.The Associated Presslast_img read more

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