not see the exact same movement as occurs with the federal funds rate. The Federal Reserve System makes a major effort to maintain a low profile. Most people, however, feel it is the real power behind the economy, not politicians. Title: Federal Reserve's Balancing Act Creates Unique Situattion Word Count: 718 Summary: The Federal Reserve's consistent increasing of rates since June 2004, and recent statements by new Federal Reserve Chairman Ben Bernanke, have created a unique opportunity for consumers. Normally, the difference between rates for fixed and adjustable rate mortgages can be more than 1%, with the ARMs having the lower rate, but now, for most consumers, the rate is almost the same on both. Keywords: Federal Reserve,Ben Bernanke,Florida Mortgage Rates,Florida mortgage Brokers,Federal Reserve Chairman,Interest Rates Article Body: Tampa, Florida, February 21, 2006 - The Federal Reserve's consistent increasing of rates since June 2004, and recent statements by new Federal Reserve Chairman Ben Bernanke, have created a unique opportunity for consumers. During a Senate Banking Committee hearing on Thursday, Bernanke refused to say how high interest rates would need to climb in order to balance the economy, but economists predicted at least one more increase at the end of March, when he has his first meeting as Fed chief. "There are two possible mistakes. One is to go on too long and one is not to go on long enough," Bernanke said during the hearing. "And, it's a very difficult balancing act." On the future course of interest rates, Bernanke made a statement Wednesday before the House Financial Services Committee saying that he agreed with an assessment made by his Federal Reserve colleagues in January, and that interest rates would probably need to move higher. Because of this gradual increase in the Fed rate, the available rates on fixed and adjustable rate mortgages have converged, and in some cases, inverted. "For the first time in 5 years, many lenders have rates on fixed rate mortgages that are almost the same as an adjustable rate mortgage (ARM)," said Karen C. Pooley, President of Star Mortgage, Inc. "This means that many people who shied away from refinancing because the best rates were only available on ARMs, can now get a fixed rate that is much better than what they have now. And even people who have seen the rate on their ARM shoot up in the last year can usually refinance at a lower fixed rate." In a speech to the Credit Union National
piece
is
an
abstract
triptych
that
I
found
while
I
was
in
Atlanta
buying
religious
paintings
The
piece
was
called
Guardian
Angel
and
I
love
it
My
patrons
fell
in
love
with
it
as
well
They
have
asked
me
to
track
down
the
artist
and
see
if
he
has
anymore
religious
paintings
available
The
only
religious
paintings
that
I
actually
do
not
buy
are
ones
that
reflect
the
image
of
Jesus
on
the
cross
I
don’t
have
a
problem
with
them
some
of
them
are
extremely
well
done
and
would
more
than
likely
sell
well
but
my
investors
made
it
very
clear
when
they
financed
the
gallery
that
I
would
not
put
that
image
into
it
PPPPP
683
Ajello
Candles
The
motto
of
the
Ajello
Candle
Company
is
“It’s
better
to
light
a
candle
than
to
curse
the
darkness”
This
candle
making
company
has
been
in
business
since
1775
The
business
has
been
family
owned
for
seven
generations
The
candles
from
Ajello’s
are
well
known
for
their
beauty
and
quality
While
they
make
more
candles
now
than
in
1775
their
dedication
to
quality
and
to
customers
has
never
changed
The
Ajello
Candle
Company
was
founded
by
Rafael
Ajello
an
Italian
painter
He
was
also
a
beekeeper
so
he
tried
his
hand
at
using
bees
wax
to
create
candles
He
worked
hard
to
create
a
formula
that
worked
well
The
formula
combined
with
his
outstanding
artistic
ability
lead
to
the
birth
of
the
Ajello
Candle
Company
In
1785
the
company
earned
the
honor
of
creating
all
the
candles
for
the
Vatican
He
and
his
wife
ran
the
business
keeping
their
children
involved
in
the
processes
from
an
early
age
As
time
went
on
their
children
and
grandchildren
kept
the
business
running
as
well
as
passed
the
family
business
on
to
their
children
By
1862
the
company
had
established
itself
as
a
leader
among
the
candle
making
industry
They
had
also
added
perfumes
and
many
.
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