What the Fed said

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.

You know the news: The Fed cut by a quarter-point, disappointing investors and Jim Cramer, who is moping that the Fed is ‘mediocre.’ For those who like to parse these things, here’s what the Federal Reserve’s Open Market Committee -- the interest rate guys -- have been saying about housing this year:

Jan. 31 statement: ‘... some tentative signs of stabilization have appeared in the housing market.’

March 21 statement: ‘... the adjustment in the housing sector is ongoing.’

May 9 statement: ‘... the adjustment in the housing sector is ongoing.’ (Aside: Does anyone know what that was supposed to mean? An adjustment is when you hitch up your pants, or start buying Lactaid instead of milk.)

June 28 statement: ‘Economic growth appears to have been moderate during the first half of this year, despite the ongoing adjustment in the housing sector.’

August 7 statement: ‘... the housing correction is ongoing.’

Sept. 18 statement: ‘... the tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally.’

Oct. 31 statement: ‘...the pace of economic expansion will likely slow in the near term, partly reflecting the intensification of the housing correction.’

Dec. 11 statement: ‘... economic growth is slowing, reflecting the intensification of the housing correction.’

Thoughts? Insights? Email story tips to [email protected].