When congress fails there is the fed, an opportunity for Pacifica

With low short term and long term interest rates, now is a good time to build or refinance.  So, are there any Pacifica city council candidates with vision bold enough to describe a permanent path to city economic progress?  Or is running for city council merely the same ol' wishful thinking popularity contest.

Silicon Valley Mercury News/Associated Press/Martin Crutsinger. "Federal Reserve to spend billions buying bonds to boost economy." 

Now our city has an opportunity to do better

"The Federal Reserve unleashed a series of bold and open-ended steps Thursday designed to stimulate the economy by boosting the stock market and making it cheaper for people to borrow and spend.  

The Fed said it will spend $40 billion a month to buy mortgage bonds for as long as it deems necessary to make home buying more affordable. It plans to keep short-term interest rates at record lows through mid-2015 -- six months longer than previously planned. And it's ready to try other stimulative measures if hiring doesn't pick up. 

....   Stock prices rose steadily after the Fed's announcement. The Dow Jones industrial average climbed more than 200 points by midafternoon Eastern time.

The Fed's policy committee announced the aggressive actions after a two-day meeting. Its moves pointed to how sluggish the U.S. and global economies remain more than three years after the Great Recession ended. The actions come a week after the European Central Bank announced its most ambitious plan yet to ease Europe's financial crisis by buying unlimited amounts of government bonds to help countries manage their debts."

Posted by Kathy Meeh