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June 24th, 2009Categories: Georgia Mountain Home Buyer's reVIEWS, Georgia Mountain Real Estate VIEWS, Mortgage & Finance reVIEWS

The Federal Open Market Committee  voted to leave the Fed Funds Rate unchanged today within its target range of 0.000-0.250 percent. 

The Fed also reiterated its plan to support the mortgage market to the tune of $1.5 trillion.

In its press release, the FOMC noted that the U.S. economy is not slowing with the same speed versus just two months ago and that financial markets, in general, are improving. 

These are two signs that the country may be emerging from recession, if it hasn’t already.

The news isn’t all good, however.  The Fed made a point to highlight the potential hazards the nations faces on its path to economic recovery:

 

• The prices of energy and commodities have been rising
• Job losses are still mounting nationally
• Businesses are reducing capital expenditures

 

Also in its statement, the Fed acknowledged a plan to hold the Fed Funds Rate near zero percent “for an extended period” and a re-commitment to the U.S. Treasury and Mortgage Bond markets.

Market reaction to the Fed’s press release has been muted. 

With no new stimulus and no new “tools” to spur the economy unveiled, Wall Street is business as usual.  Mortgage rates are unchanged post-FOMC today.

The FOMC’s next scheduled meeting is August 11-12, 2009.

Tags: Business, Federal funds rate, Federal Open Market Committee, Federal Reserve System, Financial market, Mortgage, Recession, United States

Written by Chad Lariscy//

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This entry was posted on Wednesday, June 24th, 2009 at 11:03 PM and is filed under Georgia Mountain Home Buyer's reVIEWS, Georgia Mountain Real Estate VIEWS, Mortgage & Finance reVIEWS. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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