MHN News | Fed Cuts Rates for 2nd Time

    Fed | Interest Rates | Jerome Powell | MHN | National

    — Boston Multifamily Real Estate Investment and Development. The premier platform for a wide range of resources, tools, and advisory services for multifamily and mixed-use apartment building investors, and developers of land, in the Greater Boston area of Massachusetts.

    Nov 8, 2024

    In the middle of this eventful week, the Federal Reserve made news of its own on Thursday by announcing the second interest rate cut of the fall. This time, the decision was a 25-basis-point decrease.

    In September, Fed Chair Jerome Powell announced the first cut to the Federal Funds Rate since rate increases began in March 2022. He attributed his decision to cooling job gains, easing nominal wage growth, a rise in GDP and perhaps most importantly, progress made on moving closer towards the Fed’s inflation goal.

    Now, following the Federal Open Market Committee meeting today, the Federal Funds Rate stands at a range of 4.5 to 4.75 percent. Inflation is continuing to move closer to the central bank’s 2 percent target. Powell also noted easing labor market conditions and a generally low unemployment rate.

    Source: Fed Cuts Rates for 2nd Time – Multi-Housing News

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