US Current Economic Conditions
The U.S field production of crude oil has been relatively constant over the last five years. However, the production has continuously been increasing in 2018 with the decline in September 2018. The crude oil production is expected to rise in the next months as the economy is recovering fully from recession (Amadeo 1). The economy, however, faces significant risks due to the volatility of the crude oil prices which can affect the economy at great lengths. The US government need to put in place a monetary policy instrument aimed at controlling inflation such as open market operations as a rise in crude oil prices would bring about inflation.
Housing affordability has been gradually decreasing from the beginning of the year 2018, but it has increased from June 2018. The housing affordability will continue to rise in the next few months. Affordable housing is of great importance, and therefore loans for housing and mortgages need to be looked at when formulating monetary policies. The government should maintain low discount rates on loans to commercial banks to make credit available for housing loans.
New Home Sales
The number of new one-family houses sold was highest in 2005 with 1,400,000 units sold. Until 2010 the number has been continually falling, but there has been an increase up to the year 2018. The units sold will increase for the next years. The new home sales have a great…
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