The Federal Reserve's plan to cut interest rates in 2024 may be delayed, affecting homebuyers' hopes for lower mortgage rates. Minneapolis Federal Reserve Bank President Neel Kashkari stated that the inflation data doesn't align with the Fed's expectations, dimming the prospect of reduced rates.
Homebuyers hoping to capture a lower mortgage rate on the back of the Federal Reserve cutting interest rates in 2024 may have to wait a little longer. The housing market , still rebounding from COVID-induced inflationary pressures and the Fed's rate hikes aimed at stabilization, was eyeing relief from three projected policy adjustments later this year.
However, the prospect of those reduced rates dimmed Thursday after Minneapolis Federal Reserve Bank President Neel Kashkari said that the inflation data the Fed is seeing doesn't correspond with its anticipated patterns. Kashkari, in an interview with Pensions & Investments, opened up about the Fed's predicament
Homebuyers Mortgage Rates Federal Reserve Interest Rates Inflation Housing Market Neel Kashkari
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Powell may provide hints of whether Federal Reserve is edging close to rate cutsWASHINGTON (AP) — Two weeks ago, Chair Jerome Powell suggested that the Federal Reserve was “not far” from gaining the confidence it needed that inflation was headed sustainably toward its 2% target level, which would allow it to start cutting its benchmark interest rate.
Read more »
Powell may provide hints of whether Federal Reserve is edging close to rate cutsThe latest measures of U.S. inflation have turned out to be hotter than expected.
Read more »
Powell may provide hints of whether Federal Reserve is edging close to rate cutsThe latest measures of U.S. inflation have turned out to be hotter than expected.
Read more »
Powell may hint whether Federal Reserve is edging close to rate cutsFederal Reserve Chair Jerome Powell is expected to be pressed on the topic in a news conference Wednesday.
Read more »
Powell may provide hints of whether Federal Reserve is edging close to rate cutsOn Wednesday, the Fed is considered sure to keep its short-term rate, now at a 23-year high of nearly 5.4%, unchanged for a fifth straight time.
Read more »
Jerome Powell may provide hints of whether Federal Reserve is edging close to rate cutsTwo weeks ago, Chair Jerome Powell suggested that the Federal Reserve was 'not far' from gaining the confidence it needed that inflation was headed sustainably toward its 2% target level, which would allow it to start cutting its benchmark interest rate.
Read more »