Economic Activity Is Slowing

Wednesday's Federal Reserve statement provided no indication that the FOMC has changed its sentiment concerning the U.S. economy. Investors can look forward to parsing the minutes when they are released in the future. But this growing fixation on the Fed's statements and minutes by so many in the financial media and market actors is disconcerting. The majority of the data used is readily available to anyone who wishes to consider it before the Fed does.

One of the most common questions I'm asked is if I still believe the U.S. is headed for a recession this year. The follow-on questions are usually whether or not housing values and mortgages will continue to fall, will there be another round of quantitative easing, and will stock prices fall. The answer to all continues to be yes. I also believe the U.S. dollar will rise and gold will fall....623 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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