Economy: Good News

Economic recovery in the U.S. has been threatened by several factors beyond the control of policymakers: notably the effects of the drought on food prices, and especially the unstable situation and threat of economic meltdown in Europe.

So it was good news a few days ago that decisions by a central bank and a court in Germany seems to put off a euro crisis there for awhile (some say six months to a year) which provides some breathing room for more positive efforts to stimulate economies, if governments can get there from their obsession with austerity that isn't working.

Economic recovery in the U.S. is being depressed by lack of action from the government, which until Thursday included the Federal Reserve.  That changed, with the Fed's decision to provide more stimulus.  It was generally expected but its open-ended extent was not.  So a stock market that had already been rising on the expectation shot up on Thursday by 200 points, to its highest level since the year 2000.   

Both of these actions took away immediate uncertainty and bolstered longer term predictability for markets and businesses to plan on.  So possible immediate drags on the economy are avoided, with the potential for economic growth improving in the future, and soon.  So, at least for now and the next several months, good news.  As long as you try to forget Congress.