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Unformatted text preview: ffordable Refinance
Program (HARP) that are intended to attract
more eligible borrowers who can benefit from refinancing their home mortgage to lower rates.
All of these actions are to support and stimulate
the economy, but there are limits to what monetary policy can accomplish. It is plausible that
such extraordinary actions are inhibiting investors
and consumers—that, in fact, the suspension of
normal policy action and consequences is itself
creating a road block to recovery.
In October 2011, the September personal savings
rate data were released. It had fallen to 3.6%, the
lowest since December 2007 and down from 5.3%
in June. The concern is that the consumer strength FInAnCE AnD InSURAnCE EMPLOyMEnT
FINANCE AND INSURANCE EMPLOYMENT
(In Thousands) Year
Other Activities Insurance Carri...
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