Pickup surge lifts Detroit as April auto sales rise
U.S. auto sales climbed 8.5 percent in April to about 1.3 million, led by strong demand for full size pickups from Ford GM and Chrysler. Toyota sales slipped about 1 percent as Hyundai and Ford Fusion drew buyers away from Corolla and Camry.
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Grand Rapids Faces Housing Shortage Hinder Recovery
In Grand Rapids Michigan the Bells plan to buy after a decade as renters but nationwide constraints limit sales. Limited homes for sale collide with low mortgage rates and rising prices, while credit challenges and underwater loans slow liquidity. The market shows slow improvement but inventory remains tight.
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Grand Rapids
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Beth Heinen Bell
Christian
The
Bells
Fed keeps stimulus amid tax hikes and spending cuts
The Fed warned policymakers that tax increases and automatic spending cuts are slowing growth while pledging to maintain monthly bond purchases of 85 billion dollars. It kept rates near zero until unemployment falls to 6.5 percent and signaled openness to adjust bond buying as needed. Joel Naroff framed the stance as criticism of Congress.
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