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.
Tag: Federal Reserve
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.
Industry Briefs Oct. 20, 2022: Equifax Delivers Telecomm, Utility Data in Mortgage Credit Reports
Equifax, Atlanta, said it will provide telecommunications (telco), pay TV and utilities attributes to the mortgage industry to help streamline the mortgage underwriting process and support loans within the secondary mortgage market.
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.
MBA Chart of the Week June 17 2022: Federal Reserve Projections
The Federal Reserve is racing to catch up to economic events, announcing a 75-basis-point increase in the federal funds rate and signaling more increases following last week’s FOMC meeting.
Federal Reserve Raises Interest Rates 50 Basis Points
The Federal Reserve raised its target range for the federal funds rate by 50 basis points–the largest increase since 2000–on Wednesday.
Federal Reserve Raises Interest Rates 50 Basis Points
The Federal Reserve raised its target range for the federal funds rate by 50 basis points–the largest increase since 2000–on Wednesday.