federal funds rate

Projections For Monetary Policy Show No Rate Changes

Posted on by TMN Editor
By PATRICK LAVERY Americans were just putting away their families’ Halloween costumes the last time the Federal Reserve Board made an announcement on monetary policy, holding the federal funds rate at a range of 5.25% to 5.5%. Now the nation is well past Thanksgiving and fully focusing on the holiday season and the new year ahead. But even as the seasons change, most experts expect the Fed to once again refrain from taking any action at this week’s Federal Open Market Committee meeting, slowing a trend of 11 rate hikes since early 2022. The CME Group’s FedWatch, a forecast of interest rates based on Fed funds futures trading indicators, currently hedges a 98.4% chance that the FOMC will vote to…

Fed’s Policies Take Center Stage At MBA Convention In Philadelphia

Posted on by TMN Editor
By KIMBERLEY HAAS The president and CEO of the Federal Reserve Bank of Philadelphia knew he was facing a tough crowd when he took the stage during a Monday morning session at the Mortgage Bankers Association’s annual convention and expo. “I stand here this morning fully aware of the mood in this room and I am also fully aware of the way the actions we on the FOMC have taken over the past 18 months in our efforts to tame inflation to get it back to a 2% annual target have, in their own way, contributed to the current mortgage climate,” Patrick Harker said. Harker said he met with community members this summer to see firsthand the impacts that monetary…