The Fed lowers interest for the first time in 11 years

By
Mortgage and Lending with PS Mortgage Lending 305-791-4874 or 888-845-6630 365768

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 look over inflation, the economy and its growth:

 

“We did a deep dive into US economic activity and global economic activity, and US economic activity has shown resilience. The issue is more on the downside risks and inflation (…) we’re trying to address those (…) going forward, we’re gonna be monitoring those same things: the evolution of trade uncertainty, of global growth of inflation, and the performance of the US economy.”

 

We’re hoping this rate cut signifies the start of heavy, determined measures to keep our economy in a healthy and growing state. 

 

 

Posted by

 

 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Information and content in this blog is original to Phil Stevenson

Please click the "SUBSCRIBE TO MY BLOG" button on the right, and receive more Traditional and Reverse Mortgage information in Florida and other parts of the US & Puerto Rico.

 

Phil Stevenson

PS Financial Services

Owner and Principal Mortgage Originator

Certified Reverse Mortgage Professional (CRMP)

LO #365768

NMLS #968090

Cell: 888.845.6630

Miami Mortgages & Florida Mortgages

Copyright © 2013 by Phil Stevenson & PS Financial Services, LLC

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Mortgage / Finance
Groups:
Mortgages
Mortgage Issues Forum
Tags:
fed
rates
reserve
federal
mortgage

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
3,169,594
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Phil, did not realize 11 years and I hope it keep the economy running also for years to come but worried about the China problem for farmers.

 

Aug 05, 2019 11:23 AM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
268,681

Phil Stevenson, CRMP

"Mortgage Nerd" in Miami, Florida and Texas
Ask Me About the NEW Reverse Mortgage Program!
*
*
*
*
Spam prevention