The Federal Reserve decided to make an appearance today to announce something that they haven't before. The group put an actual number on when interest rates will begin to rise. That number which triggers everything is the Unemployment Rate at 6.5%.
Now to get the Unemployment Rate at 6.5% there are two things that need to happen: 1) The current path we're on showing a decline in the unemployment rate is being caused by many people abandoning the workforce. Meaning less people being counted in that rate. So just a few more additional millions without jobs will push that number to the target of 6.5. Or 2) The economic engine starts and actually begins to run and sector growth improves to begin hiring of several hundreds of thousands of people. This is the least likely option right now due to a) stalemate in Washington D.C., b) economic worries in the private sector about over-regulation from previous government bodies, c) lack of reserve funds by small business to hire, and d) lack of consumer faith in wanting to separate themselves from their money leading to lack of revenue stream to companies.
Officials have said they don't expect to see the Unemployment Rate hit 6.5% until after 2015, so until then interest rates will be low across the board.
Today's Tidbit:
With cities undergoing innovation and rebuilding over the old, we must keep in mind the historical districts which make up a piece of the heart of a city. Often times the new owners pays tens of thousands just to keep them up to code with the city historical commission. Remember, pieces of a city's past shouldn't be forgotten. There's much history hidden within each house and neighborhood.
Huntsville Metro Area Homes
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