If you had enough of politics, forget this column. But if like many of us, you are curious and speculative on what is to come in 2013 and this lame-duck Congress, read on.
My murky crystal ball says we will not fall off the fiscal cliff, maybe short-term at best, but compromises will be made that no one will like.
Next, employment will rise gradually but gain momentum as the year 2013 progresses. This will cause interest rates to rise in early or mid-2014.
Fed chairman Ben Bernanke will have to raise the government bottom rate, but he will do it in quarter-points at a time to avoid the possibility of panic response. The housing market also will improve, thus along with the Fed rate increase will cause mortgage rates to increase at the very latest by 2014.
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