Gold prices fell more than 25% from January 2013 to January 2014, according to Goldprices.org. Silver was down nearly 36% in that same time period. Meanwhile the Federal Reserve’s balance sheet ballooned from $3 trillion to $4 trillion in 2013, and has grown nearly fivefold since the beginning of the recession in 2008.
The Federal Reserve met yesterday for the final time with Chairman Bernanke and the news was mixed (sound familiar?). Find out what happened in the latest Fed release in plain English.
The Dow Jones Industrial Average dropped more than 3.5% last week, suffering its worst week since November 2011. It wasn’t alone, as the S&P 500 and Nasdaq suffered substantial losses.
Last week, the U.S. Senate confirmed the appointment of Janet Yellen as the next chairman of the Federal Reserve. Yellen will be the first woman to chair “the Fed” when she takes over on February 1.
Today, markets are closed to observe Dr. Martin Luther King, Jr. Day. We encourage everyone to participate in this national day of service.
It’s fun to focus on the little guys when writing “This Week in Financial Blunders.” Combing the news for weird robberies, frauds and other mistakes by small-town oddballs is always a hoot, but it’s even more interesting when giant companies or corporations take a fall. How can so many people make such great mistakes? Let’s see some examples in “This Week in Financial Blunders.”
Although ARMs were one type of loan used prior to the crash, what was called an ARM then and what is an ARM now are very different.
The jobs report was the most noteworthy release of the week. The economy added only 74,000 jobs in December, well below the 193,000 that economists had forecasted.
Quit smoking, exercise more, stop swearing – New Year’s resolutions are hard to keep, but if your resolution was to eat healthier, This Week in Financial Blunders might help you keep your word.
Hello mortgage fans. The day is upon us. On January 10, 2014 (that would be tomorrow), the government’s new Qualified Mortgage (QM) rules will go into effect and once they do, there ain’t no turning back.