fed: "Central bank requires more flexibility”: Bullard - 10/01/19 12:48 PM
James Bullard, president of the Federal Reserve in St. Louis, thinks that the central bank needs to be more flexible regarding the monetary policy to defend our economy from the impending trade war consequences, as well as inflation. Bullard didn’t fully agree to the new Fed decisions, he preferred a less critical cut to rates, favoring a half point reduction.
This is what Bullard had to say:
“Trade policy uncertainty creates a disincentive for global investment and slower global growth may feed back into slower growth in the U.S. Insurance rate cuts may help re-center inflation and inflation expectations at the 2% target … (0 comments)

fed: Trump vs. the Fed, one more time... - 09/27/19 02:53 PM
 
President Trump has been very clear on his new intentions: He wants the Fed rates to go down, even below zero. He has attacked chairman Jerome Powell without mercy, going really far and even calling him “gutless” and “without vision”. 
 
This is the second time that the Fed decides to drop its rates during the year, but the President won’t stop his tantrums and attacks. If you look at the behavior of other central banks around the world, you’ll find that their rates are dropping below zero.
 
Japan, Sweden and a handful of other countries are looking to incentivise their faltering economies in … (0 comments)

fed: Trump pushes to reduce interest, despite Fed’s warning - 09/16/19 12:48 PM
It’s been a while since President Trump declared his interest (some might say forced) in directly influencing the Fed, declaring a serious distrust on its management and on its chairman, Jerome H. Powell. The President wants Powell to reduce interest points by at least 100 basis points, pushing drastic and intense demands on the central banks prerogative. Either way, there’s never been such a direct intention from the POTUS to influence the economy, at least not in such a specific manner.
 
 
In my opinion, these are radical measures that can only lead to inflation, inflation that will make a recession less maneuverable … (0 comments)

fed: The Fed lowers interest for the first time in 11 years - 08/05/19 11:11 AM
The Fed has lowered interest rates for the first time in 11 years. This comes as a consequence of several events, including the continuing pressure of the POTUS and the possibility of negative economic repercussions. The Federal Reserve hasn’t lowered these rates since the 2008 recession.
 
Jerome Powell, chairman of the Fed and leader of this new policy, promised that this sudden drop is one of many efforts to sustain “one of the longest economic expansions in the country’s history”.
 
Soon after Powell’s announcement, the market started seeing crazy movement on mortgage bonds and treasuries, a natural reaction. 
 
Powell promised to keep a careful … (1 comments)

 
Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas (PS Mortgage Lending 305-791-4874 or 888-845-6630) Rainmaker large

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