FOMC Statement Shows “Moderate” Economic Growth

Uncategorized , ,
The Federal Reserve's Federal Open Market Committee met last week and Janet Yellen held her first press conference as Fed chair. According to the FOMC statement released after the meeting, the Fed cited severe winter weather conditions as a reason for slow economic growth in recent months. FOMC members will continue to monitor economic conditions and developments as part of any decision to change the Fed's change monetary policy. Highlights included: "Moderate" Economic Growth; Asset Purchases Reduced For April FOMC made the predicted cut to its asset purchase program and reduced April's purchase of mortgage-backed securities and Treasury bills to…
Read More

Fed Meeting Statement Positive For Ongoing Mortgage Sector Support

Federal Reserve , , ,
There was potentially good news for mortgage rates on Wednesday as the Fed's Federal Open Market Committee (FOMC) announced that its quantitative easing (QE) program would remain unchanged for the present. Economists expect the Fed to begin tapering the amount of QE toward the end of the year in accordance with Chairman Ben Bernanke's previous statements that "tapering" would likely begin near year-end. No specific date for reducing the QE assets purchases was given. Chairman Bernanke has previously indicated that the Fed will closely review domestic and global economic developments as part of its decision-making process for changing the QE…
Read More