S&P: U.S. Job Growth Makes July Rate Hike Likely

Payroll jobs continue to grow and the unemployment rate remains near a 50-year low, making it likely the Federal Reserve will increase the Fed Funds rate later this month, said S&P Global Ratings, New York.

#NAC23: Lessons from the COVID Pandemic

WASHINGTON, D.C.–The Federal Reserve’s intervention when COVID hit the economy in March 2020 prevented massive damage to the markets, but the Fed should have stepped back after that, Rep. Warren Davidson, R-Ohio, said here at the MBA National Advocacy Conference.

The Week Ahead, Mar. 6, 2023: Mssrs. Powell, Chopra Visit Capitol Hill

Good morning and happy Monday. It’s a busy week in Washington, with Federal Reserve Chairman Jerome Powell and Consumer Financial Protection Bureau Director Rohit Chopra scheduled to testify before Congress. But first, here’s what else is happening this week:

Inflation Takes Step Back

Inflation—a highly regarded component of Federal Reserve policy—declined in December and slowed on an annual basis, the Bureau of Labor Statistics reported Thursday.

MBA Chart of the Week Sept. 23, 2022–Fed Dot Plots

In response to inflation continuing to run well above its target of 2%, the Federal Reserve this week again raised the federal funds target by 75 basis points. Now at 3%, the rate above what most FOMC members consider to be the long-term level and should be effective in reducing demand and slowing inflation over time.

MBA Letter to Agencies Targets Topline CRA Issues

The Mortgage Bankers Association last week sent a letter to federal regulatory agencies, discussing several topline issues it says are crucial to improving the current Community Reinvestment Act framework.

Soaring Gas, Food Prices Drive June Consumer Price Index to 40-Year High

Broad-based increases in major price categories, particularly gas and food, drove the U.S. Consumer Price Index up by 1.3 percent in June month over month and by 9.1 percent year over year—the largest annual increase since 1981, the Bureau of Labor Statistics reported Wednesday.