July’s Federal Reserve meeting did not bring forth a cut to interest rates, but all but confirmed the Fed’s intention to push the rate cut through in September. Following the Fed’s meeting, Marty Green spoke with the media on what this month’s meeting meant for the mortgage and residential real estate markets.
“The Federal Reserve sounds more and more like a broken record, although now the stuck record might be Carly Simon’s ‘Anticipation’,” said Green. “While markets continue to believe that the Fed is poised to reduce the discount rate in September, the data dependent Fed appears to want even more additional data before telegraphing a definitive timing for this move.”
Green further added: “While a September cut is still very much in the cards, it doesn’t appear to be guaranteed at this point. But it sure feels like the Fed believes that the rates are getting very close to be “higher for long enough” instead of higher for longer.’”
Green’s commentary was included in the following media coverage: