Orlando Mortgage Blog

If It's On The Money

June 15th, 2010 9:21 AM by BILL WILBANKS

 

The word "forecast" always makes me chuckle when I remember a statement made by a divisional VP at an annual sales rally from my many years with Citibank mortgage here in Florida. It went something like this "We have ten, count them...ten highly educated economists on staff in New York city that are always gathering data and culminating reports to help us out here in the field be better prepared for the future. I've found one thing to be true. On any given day somewhere around five of them will be close to reality." The moral I walked away with is what I call the "50 cent" rule. I can forecast with the same odds by flipping a coin and then go make it happen on my own. Though the Fed rarely makes definitive statements about much of anything, being highly aware that some street guru will run out to tell the market what it really means, they do let out wisps of data through their various speeches and comments from various underlings within the regional banks. Here's a bit from one of those out of the San Francisco Fed. I hope he's on the money. Read on...

 

Posted in:General
Posted by BILL WILBANKS on June 15th, 2010 9:21 AM

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