The economic recovery has continued at a moderate pace in recent quarters despite the strong headwinds created by federal fiscal policy. When discussing the fiscal headwinds, Bernanke is referring both to the tax increases at the beginning of the year and also the sequestration spending cuts. It’s the Fed’s view that the fiscal drag will dissipate through the end of the year, setting the stage for faster growth in the second half.

Bernanke mentioned how much housing has contributed to the economic turnaround. House prices are increasing, which is repairing household balance sheets and reducing the number of underwater homeowners. This increases consumer spending and also increases consumer confidence. Second, the rise in home prices is creating jobs in the construction sector, which is reducing unemployment.

The Fed’s forecast forChapter Text

It was about a year since the monsters broke free from their underworld prison when Asgore began to lose his spark. Most had adopted the surfaces way of live, finding jobs, getting a home. Toriel found a job at a school relatively quickly, her skills with children easily sealing the deal. Despite her resentment for her ex-husband, she still wrote a good word about him when the superintendent said they needed a groundskeeper. Hands were shaken and signatures signed, and Asgore became the caretaker of the school grounds.

He did a good job, flowers popping up exactly where they were meant to. Weeds were dealt with speedily and with great prejudice. The school never looked better. Toriel always enjoyed looking out of her window when the kids were