By: Fred Arnold
With the belief that the Fed is not rushing to begin the tapering of their economic stimulus program the stock market moved into record territory this week. Additionally the panic that has gripped the bond market has subsided and interest rates have been dropping. Although rates are not heading anywhere close to record lows, they are at least giving potential home buyers a little sigh of relief that they are not going to continue their rapid ascent.
The Fed released the minutes from their most recent policy meeting and it was clear that they are not ready to make any changes to economic policy. However it does appear that the board is becoming more and more divided on what economic data would create a shift in policy.