Tag Archives: federal reserve

Economic Update

THE GOODThe domestic economy appears to be gaining momentum in the first quarter of 2012. This is a continuation of progress that was made in what appeared to be a rather lackluster 2011, until you break it down quarter by quarter. In retrospect, real GDP grew in the first half of 2011 by about 1%.

Taking a swipe

“Dirty” – smaller, community banks say – because the big banks were getting away with highway robbery, skimming upward of 44 cents every time a debit card was swiped. Over the summer, the Federal Reserve ordered banks to cut the rate they charge merchants for debit-card transactions roughly in half to 21 cents. The Fed