What the Federal Reserve Did In Plain English Interest Rates for First Time Home Buyers in Renton
By Gary McNinch, Broker, Renton WA Real Estate
(Better Properties Real Estate)
Explaining What The Federal Reserve Did In Plain English (April 30 2009 Edition) 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 economy may still be contracting, but that it's not happening with the same speed as in prior months. Household spending is stabilizing and financial markets are "easing". Since the FOMC was a year late to realize our economy was in a recession, I am hoping they are actually late in noting the "easing" and that they are in fact accurate. Nevertheless, threats to the recovery are everywhere with the following items on the Fed's short list: T...
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