Washington Post Sources Say Bernanke has no Plans for Rate Hikes
Federal Reserve Chairman Ben Bernanke has no plans to raise interest rates and is more concerned about growth than inflation, a Washington Post op-ed reported on Monday.
Citing "sources close to" Bernanke, columnist Robert Novak said the Fed chairman sees high energy prices as a threat to growth, not a driver of inflation.
"Privately, Bernanke is said to be much more concerned about low growth," Novak wrote. "Bernanke feels that oil at $125 a barrel and $4-a-gallon gasoline threaten contraction more than inflation, despite the daunting prices."The op-ed also paints the Fed in contrast to the European Central Bank. On June 5, ECB President Jean-Claude Trichet said a rate hike at the July meeting was "possible".
"Bernanke, according to sources, disagrees more with the European position than is reflected by his public statements," Novak wrote.
By Adam Button and edited by Stephen Huebl**CEP**
Parkland raises tax 2.3 percent
Parkland School Board adopted its final 2008-09 budget containing a 2.3 percent property tax increase. The property tax rate will rise from 35.84 mills to 36.67 mills. That means the owner of a property assessed at $100,000 would pay $83 more next school year, for a total of $3,667. However, more than 15,300 qualified homestead and farmstead owners will see a property tax bill reduction of $114.17 as a result of state gaming revenues being disbursed.
Source: The Morning Call, 6.25.08
Alburtis to unveil downtown plan
New sidewalks, brick pavers, Victorian-style street lamps and trees may adorn downtown Alburtis soon. That's what designers have come up with as part of a plan to improve pedestrian safety and beautify the downtown. The streetscape design calls for nearly $800,000 of improvements along Main and Franklin streets, the borough's shopping district.
Landlords told: Make repairs or lose rent
The rule: The U.S. Department of Housing and Urban Development requires Section 8 landlords to have an annual inspection. Problems must be corrected within 30 days. Previously: The Allentown Housing Authority withheld rent until landlords fixed the required items -- but if it took longer, landlords still got the money retroactively. The change: After 30 days, Section 8 landlords will lose rent every day repairs aren't made.
Source: The Morning Call, 6.24.08
5.4% tax increase for Bethlehem SD
The Bethlehem School Board the board approved the 2008-2009 budget, which calls for eliminating dozens of teaching and three administrative positions, laying off the full-time public relations director, increasing elementary school class size, and cutting spending in reading intervention, special education and nearly all other programs. The cuts were not enough to balance the budget, therefore residents will still see a 5.4 percent tax increase. The new tax rate will be 39.58 mills, an increase of 2.02 mills. Taxes will rise about $121, to $2,375, for a property assessed at the district average of $60,000.
East Penn to see 4.4 percent tax increase
The East Penn School Board passed its $111 million 2008-09 budget, which will increase property taxes by 4.4 percent. In includes an increase of 1.78 mills, bringing the total millage to 42.27. Owners of properties with an average assessed value of $74,500 would pay $3,149, a $133 increase over this year's tax bill of $3,016. The increase per eligible homestead will be offset by the estimated $118 property tax relief from the state’s share of casino revenue.
Property Tax relief on the way . . .
The Pennsylvania Department of Education has informed the state's 501 school districts of the amounts each will receive from state gaming revenues to fund property tax relief for the coming fiscal year. It also provided a breakdown of the estimated tax relief for each property. The disbursement to districts from the state's share of casino revenues is $612.9 million. Click here to see how much property owners in your school district can expect.
Home | Mortgage Calculators
Copyright © 2010 The Mortgage CompanyPortions Copyright © 2010 a la mode, inc.Another XSite by a la mode, inc. | Terms of Use| Site Map
