The Federal Reserve announced its third consecutive rate cut, with a 25-basis-point slice that brings the federal funds rate down to the range of 4.25% to 4.5%.
The decision by the central bank’s policy making Federal Open Market Committee had one dissenter – Cleveland Federal Bank President and CEO Beth M. Hammack, who sought to hold the rate level steady.
In announcing the decision, the Fed insisted that “recent indicators suggest that economic activity has continued to expand at a solid pace,” adding that “the risks to achieving its employment and inflation goals are roughly in balance.”
The Fed also stressed that it would “continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities.”
;
DROP THE PRICES. All this does is just cutting our interest that we earn on our bank investments. When Inflation is high. They won’t lower the mortgage rates.