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FOMC announcement

Home > Posts > Tag: FOMC announcement

Federal Open Market Committee Press Release – September

Information received since the Federal Open Market Committee met in September suggests that economic activity has continued to pick up. Conditions in financial markets were roughly unchanged, on balance, over the intermeeting period. Activity in the housing sector has increased over recent months. Household spending appears to be expanding but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit. Businesses are still cutting back on fixed investment and staffing, though at a slower pace; they continue to make progress in bringing inventory stocks into better alignment with sales.

2009-11-04T14:22:25-06:00November 4, 2009|Federal Reserve Release|

FOMC announced that it will only purchase about $175 billion of agency debt , slightly less than the $200 billion it previously announced

FOMC announced that it will only purchase about $175 billion of agency debt , slightly less than the $200 billion it previously announced. It continues to anticipate that “economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period”, an expectation it has repeated in every release since March. Fed now says household spending “ appears to be expanding”, a more optimistic outlook than the path Fed members saw in September. The Fed also repeated its assumption that economic activity will “likely remain weak for a time” and that stimulus measures combined with market forces will contribute to a gradual resumption of growth. Lastly, the Fed continues to see inflation as remaining “subdued for some time”.

2009-11-04T14:13:30-06:00November 4, 2009|Austin Mortgage Market|

Today’s FOMC announcement is not expected to make changes but the words will be scrutinized for even small hints of policy changes

While our economy continues to struggle, job losses continue, and inflation remains a non-issue, there is a growing unease about the timing of future Fed actions and the market's ability to digest them. Today's FOMC announcement is not expected to make many, if any, changes versus September's announcement but the words will be scrutinized for even small hints of policy changes.

2009-11-04T14:10:33-06:00November 4, 2009|Austin Mortgage Market|