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Fed Completes Stress Tests

By Implode-Explode Heavy Industries

Don't brace yourself for the results; they're secret -- ``The Fed tested how banks would weather a worst-case economic scenario where the inflation-adjusted gross domestic product, the total value of goods and services produced in the economy, contracts 1.5% this year. In addition, the Fed test proposed the unemployment rate would climb to 11% this year from the current level of 8.9%, and that an index of U.S home prices would fall by 6.2%. The central bank didn't disclose the results of the stress tests and didn't say which institutions were granted permission to increase their dividends. ''

Full post as published by Mortgage Lender Implode-o-Meter on March 18, 2011 (boomark / email).