Federal Reserve Sees Economic Improvement and Some Jobs
Late year reports from the 12 different regions of the Federal Reserve saw improvement in consumer spending and manufacturing according to a report released today. This is the best report since the recession began as 8 regions reported an increase in economic activity. Can this recovery continue after the First Home Buyer Tax Credit expires next April, more than likely it can.
The Fed plans to keep rates were they are as inflation, even in recent reporting, has not increased. And maybe the best news of all is job improvements in the Boston area and the service sector in St. Louis. Even with the two regions of job growth, the board doesn’t expect the unemployment rate (10.2%) to move downward until the middle of 2010.
S&P 500 Proshares
I still feel the best way to play the economic recovery is purchase Ultra S&P 500 Proshares ETF (SSO). There are other ETFs that you could also add to a portfolio but I tend to the use the double return S & P 500. It has fluctuated between $37 and $38 a share for the past month but should run if it breaks above $38.
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