By PATRICK LAVERY Kicking the can down the road, moving the goalposts – whatever idiom you want to use – such an expression will likely be appropriate for this week’s meeting of the Federal Open Market Committee, which appears poised to hold the target range for the federal funds rate steady at 5.25% to 5.5%….
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 Seven weeks ago, the 2023 slate of policy meetings for the Federal Open Market Committee concluded with members voting to leave the key interest rate unchanged for a third straight time. However, anyone hoping that 2024 will begin with some movement in a downward direction is likely to be disappointed this week….
By PATRICK LAVERY Saying he and the Federal Open Market Committee were “proceeding carefully,” Federal Reserve Board Chairman Jerome Powell announced that they voted unanimously Wednesday to leave its policy interest rate unchanged for a third straight meeting. This ensures that after more than a year of incremental hikes that eventually saw the key rate…
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…
By PATRICK LAVERY As experts almost unanimously predicted, the Federal Reserve Board on Wednesday held its target range for the federal funds rate at 5.25% to 5.5%, meaning after a year and a half of upheaval, the range will approach the end of 2023 not having budged for more than a third of this year,…
By PATRICK LAVERY When the Federal Open Market Committee meets this week analysts will be looking for signs of what’s next and it may be anyone’s guess. At the Mortgage Bankers Association’s annual convention and expo in Philadelphia this month, MBA Chief Economist Michael Fratantoni told attendees that they expect the Feds will maintain the…
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 When last we heard from the Federal Reserve on interest rates, on June 14, the Federal Open Market Committee agreed not to raise the target range for the federal funds rate for the first time in more than a year. With the Fed’s next meeting now less than a week away, could…
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…
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