The Federal Open Market Committee of the Federal Reserve announced the first rate cut to its key interest rate range since the Great Recession ushered in a series of rate cuts described as “quantitative easing.” The Fed committee confirmed a quarter-point cut to 2.00 to 2.25 percent.
FOMC Statement Shows Tapering Of Quantitative Easing Purchases
According to a statement provided by the Federal Open Market Committee of the Federal Reserve, the committee has approved another reduction of the Fed’s monthly asset purchases.
Fed Minutes Predicts Tapering Of Quantitative Easing Program
Housing Starts exceeded expectations and also beat October’s reading of 889,000. November housing starts were posted at 1.09 million against a consensus of 963,000. This reading is more in line with the NAHB/Wells Fargo Home builder Market Index, which reached a four month high with December’s reading.
Fed Meeting Minutes Show Hope In Economic Growth
The minutes of the Federal Reserve’s Federal Open Market Committee meeting held October 29 and 30 were released Wednesday. The meeting began with a report from the Manager of the System Open Market Account and included updates on developments within domestic and foreign financial markets.
Fed Meeting Minutes Expose Mortgage Rates As Remaining Historically Low
The Federal Open Market Committee of the Federal Reserve decided not to reduce the Fed’s current quantitative easing program of purchasing $85 billion monthly in Treasury securities and mortgage-backed securities.
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