The Federal Reserve raised interest rates by another 25 basis points at its meeting this week, a move that Marty Green says will continue to drive the US economy into recession. Though not completely unexpected, many industry experts – including Green and Allan Polunsky, in a HousingWire op-ed – called for the Fed to pause its interest rate hikes due to the recent banking crisis.
“Teetering confidence in the banking sector, even if currently contained to a small number of banks, offered the Federal Reserve a perfect opportunity to pause, without signaling that it was throwing in the towel on inflation,” Green noted. “The Federal Reserve’s policy appears to be completely stuck in the 1980s, dancing to disco in a hip-hop world.”
Green shared his perspective on the Fed’s latest rate hike in the following media outlets:
- Scotsman Guide – Despite banking insecurity, Fed raises interest rate by 25 basis points
- InsuranceNewsNet – Fed raises rate .25 against a backdrop of bank solvency fears
- HousingWire – Why industry watchers expect mortgage rates to fluctuate in coming weeks
- National Mortgage Professional – Feeling Like a “Crash Test Dummy”
- Forbes Advisor – Fed Eases Tone On Rate Hikes As Aftershocks From Bank Failures Spell Credit Tightening
- Mortgage Professional America – US mortgage rates tumble again – reactions pour in