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Special Device Help Prevent Suddent Infant Death

Special Device Help Prevent Suddent Infant Death

Researchers from Germany's Fraunhofer Institute for Reliability and Microintegration IZM in Berlin has developed a new breathing sensor system that help prevent Sudden Infant Death Syndrome (SIDS). This syst...

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University Installs Grass Lawn in School Library

University Installs Grass Lawn in School Library

Cornell University has built a grass lawn inside their school library as a part of a project of their institution's Department of Design and Environmental Analysis. The department is currently conducting a r...

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Wash Your Clothes in a Portable Washing Machine [Video]

Wash Your Clothes in a Portable Washing Machine [Video]

Meet, the Scrubba, a portable washing machine, in form of a bag. This wash bag, allows people to do their laundry, on-the-go. The Scrubba is a lightweight, foldable bag that features small nodules to help sc...

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Fart-Deodorizing Underwear Sold in Japan

Fart-Deodorizing Underwear Sold in Japan

Thanks to Japan's new invention, the Deoest underwear, extreme farters can now release their foul smelling gas and prevent people near them from fainting. It is a fart-deodorizing underwear, created by Profe...

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Mortgage Rate: 30-year Fixed Loan Falls to 4%

Written on September 16, 2011 by Japhet Writ

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Mortgage rates hit another record low in two consecutive weeks.

Amid ongoing economic concerns at home and in Europe, mortgage rates hit another record low this week. According to mortgage giant, Freddie Mac, the average rate for a 30-year, fixed-rate loan fell to 4.09% this week — its lowest level in 60 years. For those who want to refinance, the popular option – 15-year fixed mortgage – declined from 3.33% to 3.30% last week.

However, the low rates did little to boost the beleaguered housing market. Despite the increase in mortgage applications to 6.3% last week, only 23% of the applicants intended to use the loan to purchase a home. That is according to a weekly mortgage survey conducted by Mortgage Bankers Association. The rest of the applicants were homeowners seeking to refinance existing, higher-rate mortgages.

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Economic Data Still Unsatisfactory, Fed Official Said

Written on June 07, 2011 by Lulu

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Recent economic data and reports are still disappointing and could interrupt the Fed's move out from its easy financial policy .

The president of Boston Federal Reserve Bank, Eric Rosengren, told CNBC in an interview that the slowdown does change when the appropriate exit strategy has come. He said that it was too untimely to deliberate whether the Fed should set out on a third round of quantitative easing, but did not rule out. As well as cutting down the rates to near zero in December 2008, the Fed has more than tripled its balance sheet to around $2.7 trillion. Its $600 billion second round of quantitative easing also known as QE2, conclude this month.

Philadelphia Fed President, Charles Plosser, and Dallas Fed President, Richard Fisher, expressed strong opposition to doing more. They voted on the policy this year, while Eric Rosengren did not. Richard Fisher said in a Market News International Conference in New York that the Fed has done sufficiently enough, if not too much, to aid the economy. He also said that he personally do not foresee additional accommodation. Richard Fisher anticipates economic growth to accelerate in the second half of this year. He also expects inflation to be tempered as the temporary boost from rising energy and commodity prices deteriorate.

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Kocherlakota: Rates Could Go up in Late 2011

Written on April 02, 2011 by Japhet Writ

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After two years, Minneapolis Fed president - Narayana Kocherlakota - indicated that the central bank could raise the interest rates before the year ends.

Minneapolis Fed President, Narayana Kocherlakota, said in a Wall Street Journal interview last Thursday that the central bank could raise interest rates by the end of 2011. Since 2008, the Fed has kept interest rates to historic lows between 0% – 0.25%.

He expects the economy to grow about 3% this year. Narayana Kocherlakota also added that if the underlying inflation continues, the Fed will end its QE2 bond purchasing program by June.

If core inflation increases by 50 basis points over the year, the native response would be to raise the target rate more than the observed inflation. That said, there will be an additional of more than 0.5% for short-term interest rates.

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