Powell was referring to the current situation in which homeowners holding historically low rate mortgages aren’t feeling incentivized to sell their homes, reducing the number of properties available in the market. A Federal Housing Finance Agency research paper published in March 2024 shows that nearly all 50 million active mortgages have fixed rates, and most [...]read moreWhen will the Fed’s moves alleviate the lock-in effect?
The Federal Reserve’s Federal Open Markets Committee (FOMC) maintained its short-term policy interest rate steady at a range of 5.25% to 5.5% for a sixth consecutive meeting on Wednesday. “The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward [...]read moreFed holds rates steady for the sixth straight time
A report published late Thursday by The Wall Street Journal said that allies of former president and presumptive 2024 Republican nominee Donald Trump are working behind the scenes on policies that could make the Federal Reserve less independent, if Trump were reelected this fall. Former Trump administration officials have been discussing several proposals, ranging from [...]read moreIf reelected, Trump could seek greater control over Federal Reserve