Fisher Says Economy Has `Anemia,’ Housing Hasn’t Hit Bottom

April 9, 2008

As reported in Bloomberg:

April 9 (Bloomberg) — Federal Reserve Bank of Dallas President Richard W. Fisher said the housing market hasn’t hit bottom, and acknowledged that recent interest-rate cuts haven’t lowered borrowing costs for households and companies.

“The housing crisis may not yet have run its course, and further danger could lie ahead,” Fisher said in the text of a speech today in San Antonio, Texas. “The U.S. economy will continue to suffer from a bout of anemia while the housing and financial markets settle down.”

The comments echo the assessment of Fed policy makers at their meeting last month, when they concluded that signs of stabilization in the housing slump had yet to emerge. Central bankers anticipate the economy may contract in the first half, with a recovery in growth later this year.

Our Perspective:

 

Uncertainty reins in financial markets.

 

Crude oil jumped to $112 a barrel. Again, I heard that $4.00 gas could be in our near future.

 

The Fed has taken the steps to reduce rates for the banks, however the banks are still holding back and are not lending money.

 

You can get whiplash watching the stock market.

 

The Iraq hearings are being held in Washington and Gen Petraeus has offered no hope of an early exit. Meanwhile the bills keep mounting.

 

What steps can we take?

 

What are you doing to insure your company’s viability in these turbulent time?

 

Are you being proactive or is it business as usual?

 

Our clients are looking at their cost of operations.

 

Clients are savings from 15% to 40% looking at their telecom and data cost.

 

Clients are receiving refunds for overpayments of payroll taxes and sales taxes.

Several have been in the 6-figure range.

 

Would that help your bottom line?

 

Clients with larger fleets are looking at our GPS fleet management solution.

They are finding their ROI is less than 6 months.

 

Do you have a question?

 

Let us know your thoughts?

 

You may email george@hbsadvantage.com

 

Hutchinson Business Solutions ……Your CFO on the Go.

 

Creating Opportunities Today,…Defining Savings for Tomorrow.Visit http://www.hutchinsonbusinesssolutions.com/ to learn more about saving opportunities available for your company.

 

 

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2 Responses to “Fisher Says Economy Has `Anemia,’ Housing Hasn’t Hit Bottom”

  1. […] drb4 wrote an interesting post today onHere’s a quick excerptAs reported in Bloomberg: April 9 (Bloomberg) — Federal Reserve Bank of Dallas President Richard W. Fisher said the housing market hasn’t hit bottom, and acknowledged that recent interest-rate cuts haven’t lowered borrowing costs for households and companies. “The housing crisis may not yet have run its course, and further danger could lie ahead,” Fisher said in the text of a speech today in San Antonio, Texas. “The U.S. economy will continue to suffer from a bout of anemia while the housing and financial markets settle down.” The comments echo the assessment of Fed policy makers at their meeting last month, when they concluded that signs of stabilization in the housing slump had yet to emerge. Central bankers anticipate the economy may contract in the first half, with a recovery in growth later this year. Our Perspective:   Uncertainty reins in financial markets.   Crude oil jumped to $112 a barrel. Again, I heard […] […]

  2. […] Young Entrepreneur Forums – An entrepreneurial and small business site wrote an interesting post today on Fisher Says Economy Has `Anemia,’ Housing Hasn’t Hit Bottom Here’s a quick excerptYou can get whiplash watching the stock market.   The Iraq hearings are being held in Washington and Gen Petraeus has offered no hope of an… […]

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