Fed Focus Turns from Finding Capital for Lenders to Battling Inflation
Abstract:
Financial markets were relatively calm over the past month. The policy set federal funds and prime bank rates moved down about 20 basis points while market interest rates moved up about 20 basis points bringing the two sets of rates into a more normal relationship which typically suggests no significant rate changes are expected in the next few months. As a result mortgage interest rates were approximately steady over the last month, says Reed Construction Data chief economist Jim Haughey.
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Financial markets were relatively calm over the past month. The policy set federal funds and prime bank rates moved down about 20 basis points while market interest rates moved up about 20 basis points bringing the two sets of rates into a more normal relationship which typically suggests no significant rate changes are expected in the next few months. As a result mortgage interest rates were approximately steady over the last month, says Reed Construction Data chief economist Jim Haughey.