By PATRICK LAVERY Experts and analysts had been predicting it for weeks, so the first shoe to drop Wednesday afternoon was expected: The Federal Open Market Committee voted to cut its key interest rate by another quarter-point, its third consecutive cut after more than a year of inaction, and a resultant reduction of 100 basis…
By PATRICK LAVERY After more than a year of no movement, there could be big news to come out of the upcoming Federal Open Market Committee meeting this Tuesday and Wednesday – even bigger than anticipated. CME Group’s FedWatch tool, for the first time in numerous recent Fed meeting cycles, is not even holding open…
By ERIN FLYNN JAY As fall approaches real estate professionals are taking a pragmatic approach as they wait for buyers and sellers to gain more confidence. Gary Mintz, a realtor with Berkshire Hathaway HomeServices Fox & Roach in Philadelphia, said business was at best okay for the first half of 2024. “I am ‘hopeful’ that I…
By KIMBERLEY HAAS In a move that was not surprising, members of the Federal Open Market Committee held the target range for the federal funds rate steady at 5.25% to 5.5% at their meeting this week. Inflation has eased over the past year but committee members do not believe it will be appropriate to reduce…
By PATRICK LAVERY Saying the economy has surprised even the experts since the start of the COVID-19 pandemic nearly four years ago, Federal Reserve Board Chairman Jerome Powell on Wednesday announced that the Fed would hold its ground for now and keep its policy interest rate unchanged at its current range of 5.25% to 5.5%….
By PATRICK LAVERY With the end of the third quarter of 2023 in sight, indications are that the Federal Reserve will pause hiking its federal funds rate this week – as it did in June before again raising the target range in July – and investors will be watching closely on Wednesday to see if…
By PATRICK LAVERY The Federal Open Market Committee called a pause on their rate hikes Wednesday, electing to keep the target range for the federal funds rate unchanged at 5% to 5.25% while continuing to significantly reduce securities holdings. It was not a complete victory lap for Federal Reserve Chairman Jerome Powell, who told reporters…
By KIMBERLEY HAAS Industry leaders are speculating about what officials at the Federal Reserve will do concerning rate increases during their meeting this week. In May, Federal Reserve Chair Jerome Powell said they were prepared to raise rates again if economic conditions worsened, but hinted at a wait-and-see attitude regarding this month’s meeting. Policymakers may…
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