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Forbes ranked Austin #6 in the nation for their list of "America's Recession-Proof Cities to Retire In." Forbes based their rankings on the country's 40 largest metropolitan statistical areas and applied seven metrics. Texas cities Dallas-Fort Worth, Houston, and San Antonio also made the list.
Recently, Fed officials have sent mixed signals about how soon the Fed may need to begin to tighten monetary policy. Wednesday, the Fed's Hoenig said that the Fed should begin raising interest rates "sooner rather than later," and that this action wouldn't end the economic recovery. He explained that the Fed has a long way to go just to return to a neutral monetary stance and that it will take a while for the impact of rate hikes to be felt. Thursday evening, Bernanke held with the stated view that low rates will likely be justified for "an extended period", but he added that the Fed will be ready to remove stimulus as the economy recovers. When the Fed eventually indicates that it's ready to act, Austin mortgage rates will be likely to move higher.
Not even bullish economic news can hold up stocks as [...]