reserve: 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

Phil Stevenson, CRMP

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