Eye On Housing
On Wednesday, the Federal Open Market Committee (FOMC), the branch of the Federal Reserve that determines monetary policy, announced an extension of the ongoing policy sometimes referred to as “operation twist.” This policy seeks to keep long-term interest rates low, thereby stimulating the economy, by selling Treasury securities with short maturities (three years or less) and purchasing Treasury securities with maturities… Read More ›
Tag Archive for ‘interest rates’
FOMC Announces Long-Term Commitment to Low Rates: Impact on Housing
Coming soon after the Congressional effort to lift the debt ceiling, the S&P downgrade of the credit rating of the Federal government, and elevated volatility for stock market prices, the Federal Reserve’s Open Market Committee (FOMC) today reported a long-term commitment to low interest rates during its August 2011 meeting. The FOMC stated: To promote the ongoing economic recovery and to help ensure… Read More ›