Market Update

Changes coming soon as Fed sets stronger tone

Changes coming soon as Fed sets stronger tone

The Federal Open Market Committee is preparing to shake up the economic landscape. At its monthly meeting, the FOMC held interest rates near zero but gave some indication that it will move to raise interest rates sooner than expected.

Furthermore, members said in a post-meeting statement, “If progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases may soon be warranted.” Federal Reserve Chair Jerome Powell gave a more clear timeline in his statement, saying, “While no decisions were made, participants generally viewed that so long as the recovery remains on track, a gradual tapering process that concludes around the middle of next year is likely to be appropriate.”

We’ve discussed these asset purchases regularly in this blog.

Continue reading Changes coming soon as Fed sets stronger tone at Movement Mortgage Blog.

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