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To no one’s surprise, WV presidential electors go for Trump
There were a few protesters at the West Virginia Capitol Monday morning, but in a state where 68 percent of the voting population -- more than 489,000 people -- cast a ballot for the real estate mogul and former reality television star, opposition was subdued.
But senior government officials said it could be hard to reverse course without damaging the credibility of the Fed and the administrationIf the government loses the trust of the financial markets, preparing them for policy changes could be tougher, possibly resulting in economic disruptionsThe officials said they also worry that the mortgage market is becoming overly dependent on federal support, inserting the government too deeply into private enterprise.
Only a new crisis would be able to persuade the administration and the Fed to change their minds, officials said.
"This is a worthy experiment to see if they can begin exiting after providing an unprecedented amount of money to one sector of the economy," said Mark Zandi, chief economist at Moody's Economy.com"It's a close call, thoughI can see why they are debating it."
Filling in the void
The Fed's policymaking body sets a key interest rate at periodic meetings, which in turn influences rates for all kinds of loansBut mortgage rates also are shaped by the health of the market financing these loans.
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