Money and Computing
Brexit, To Stay or To Go: An Exit from the European Union
A British exit from the European Union would slow economic growth, reduce Europe’s impact in world politics, and strengthen regimes such as Russia's that prefer a weaker, less united Europe, Stanford expert Christophe Crombez says. more »
New York Times and Consumer Reports Articles on Reverse Mortgages and the FHA Proposal to Strengthen Reverse Mortgage Program
"So yes, our retirement savings vehicles ought to be better. Until they are, however, home equity may end up being the biggest asset that many people have to draw on in retirement. That is where reverse mortgages come in for people who use their homes as a primary residence. If you are 62 or older, you can apply to extract some of that equity in a variety of ways, including through a lump sum or a line of credit. Your age, prevailing interest rates and the amount of equity in your home will help lenders determine what you can borrow." NYTimes article more »
Chair Janet L. Yellen: "My Message Will Be Largely Favorable, Although Recent Developments Have Been Mixed"
"Inflation has been lower than our objective of 2 percent, but I expect it to move up over time for reasons that I will describe. If incoming data are consistent with labor market conditions strengthening and inflation making progress toward our 2% objective, as I expect, further gradual increases in the federal funds rate are likely to be appropriate and most conducive to meeting and maintaining those objectives. However, I will emphasize that monetary policy is not on a preset course and significant shifts in the outlook for the economy would necessitate corresponding shifts in the appropriate path of policy." more »
On The Trail: Bernie Calls for Free Tuition Despite Opposition
Sanders declined to comment on the Democratic National Convention, where the party's candidate could be selected if the candidates do not secure enough delegates. He repeated his conviction that there is a path forward to make a university education more affordable. We are the richest country in the history of the world," Sanders said. "We will not succeed unless we have the best-educated workforce in the world." more »
