Tuesday, September 22, 2009

Recession's Over!

Economic News

* Retail Sales jumped 2.7% in August

* Industrial Production rose 0.8%

* Housing starts rose 1.5%

* Federal Reserve start their 2 day meeting; fully expect to keep historical low rates at their current level to help spur lending and economic recovery

* Federal Chairman Ben Bernanke is scheduled to make rate announcement at 2:15 on Wednesday, September 23rd

* Bernanke also announced recession is "likely over", the market has responded in kind by this statement

September and October have historically been very volatile. We will continue to be be very vigilent and optimistically cautious in our efforts managing your assets: recognizing every opportunity to manage risk as well as looking for opportunities for growth.

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