Free Markets, Free People

Economic Statistics for 18 Jun 14

The MBA reports that rising mortgage rates sent mortgage applications down -9.2% in the latest week. Purchases fell -5.0%, while re-fis dropped -13.0%.

The nation’s current account deficit the 1st Quarter of 2014 rose to $-111.2 billion from a revised $-87.3 billion in 4Q 2013.

The Federal Open Markets Committee left interest rates unchanged today, with a Fed Funds target rate of 0% – 0.25%.

The FOMC’s June projection for economic growth: 2014: 2.1-2.3%; 2015: 3.0-3.2%; 2016: 2.5-3.0%; longer run: 2.1-2.2%. Again, the prediction is for continuing subpar GDP growth.

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