Michael Inkman

Fairway Independent Mortgage Corporation

  • About
    • About Michael
    • Testimonials
  • Types of Loans
  • Mortgage Info
    • Buyer Info
    • Seller Info
    • Closing Costs
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage Glossary
    • FAQs
  • Blog
  • Contact
You are here: Home / 2018 / September / Archives for 27th

Archives for September 27, 2018

Fed Raises Key Interest Rate For 3rd Consecutive Time

September 27, 2018 by Michael Inkman

Fed Raises Key Interest Rate for 3rd Consecutive TimeThe Federal Open Market Committee of the Federal Reserve announced that it raised the target federal funds rate to a range of 2.00 percent to 2.25 percent. This was the third consecutive increase in the Fed’s key interest rate and was the eighth time the Fed raised its key interest rate since 2015.

In its customary post-meeting statement, Committee members cited strong economic conditions and continued labor market growth coupled with historically low unemployment rates as a basis for raising the federal funds interest rate.

Fed Cites Steady Inflation, Healthy Household And Business Spending

Further economic conditions cited in the FOMC statement were steady inflation, which has held close to the Fed’s objective of two percent for a year. Projections on long-term inflation were “little changed” according to the statement.

FOMC’s statement explained how committee members make decisions about the target range for the federal funds rate. The Federal Reserve must make decisions based on its legislative mandate of achieving and maintaining maximum employment and an inflation rate at or near two percent.

The FOMC also considers measures of economic and labor conditions, pressures on inflation and projections on inflation. Committee members keep up-to-date on domestic and global economic developments.

After the FOMC statement was released, Fed Chair Jerome Powell gave a press conference.

Fed Chair: Economy Strengthening Without Need Of Fed Accommodation

Federal Reserve Chair Jerome Powell expressed confidence in current economic conditions and said that future rate hikes would help maintain the Fed’s goals and promote healthy economic growth. Mr. Powell said that future meetings of the Federal Open Market Committee would be guided by asking and answering the question of whether current monetary policy is set to achieve FOMC goals. Analysts interpreted Chair Powell’s comments as indicating that current economic conditions are as good as could be expected and that the Fed’s monetary policy decisions are working as planned.

 

Real Estate Tagged: Federal Reserve, Interest Rates, Market Conditions

Michael Inkman

Contact Michael


michael@michaelinkman.com
Mobile: (214) 762-4659
NMLS #152707
FIMC
Company NMLS #2289

Connect With Me!

  • Facebook
  • Google+
  • LinkedIn
  • Twitter

Sign Up for My FREE e-newsletter!

Let’s Keep In Touch!

  • This field is for validation purposes and should be left unchanged.

Archives

September 2018
M T W T F S S
« Aug   Oct »
 12
3456789
10111213141516
17181920212223
24252627282930
Texas Consumer Complaint and
Recovery Fund Notice

Third Party FIMC: bestmortgageblog.com
Equal Housing

Categories

Fairway Independent Mortgage Corporation
2500 Dallas Parkway STE. 533
Plano, TX 75093

Copyright © 2019 Michael Inkman  ·  All rights reserved   ·   Log In