Housing starts fall in February amid winter delays
February housing projects dropped to a seasonally adjusted annual rate of 1.86 million units, a 40 percent drop from January. Despite the decline, year over year activity rose 13.1 percent, and economists note underlying strength with mortgage rates near multi‑year lows aiding demand. Wall Street advanced as the Fed kept the federal funds rate at 1 percent, a 45‑year trough.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Wall Street
Federal Reserve
Fed
Alan Greenspan
Robert McGee
U.S. Trust
Home builders cautious on March sales despite strong market
The National Association of Home Builders reports builders feel confident about current market conditions but are slightly less bullish about March sales and sales over the next six months. The survey signals steadier housing activity with cautious optimism.
MENTIONED IN THIS ARTICLE
National Association of Home Builders
Rumsfeld Says Terror Won't End With Bin Laden Capture
Pentagon chief Donald Rumsfeld warned that capturing Osama bin Laden would not end terrorism. In a Nashville radio interview during coverage of the one year since the Iraq invasion, he said al Qaida’s network has become more decentralized and that remaining leaders and associates must still be pursued and jailed.
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Rumsfeld
bin Laden
Washington
Pentagon
WTN Radio
Nashville
al-Qaida
Iraq
Fed holds short term rate steady at 1 percent
The Federal Reserve kept the federal funds rate at 1 percent a 45 year low, with inflation muted and the committee saying it can be patient in removing its policy accommodation. The unanimous decision leaves the prime lending rate at 4 percent, the lowest in over four decades.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Fed
Alan Greenspan
Federal Funds
Massachusetts teen wins national science contest
Herbert Mason Hedberg, 17, of North Attleboro High School, won the Intel Science Talent Search top prize for a faster cancer diagnostic method using telomerase inhibitors. He secures a 100000 scholarship. other finalists received sizable awards. Boris Alexeev, 17, of Cedar Shoals High School, placed second with 75000 for automata theory related to genetics and speech recognition.
MENTIONED IN THIS ARTICLE
Washington
Massachusetts
Herbert Mason Hedberg
North Attleboro High School
Intel Science
Hedberg
Bush
Boris Alexeev
Cedar Shoals High School
Athens
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