The Market in SIMPLE English

Fed Announcement Later Today

Eagles,

The Federal Reserve is currently in a scheduled two day Open Market Committee Meeting. This meeting is expected to wrap up with an announcement from the Fed on monetary policies at around 2:15pm today.

There is no expectation that the Fed will announce any change in its target Discount Interest rate, which is currently set at 0 to .25%, but their is an expectation that the Fed will set the stage to begin withdrawing from the many programs they have had to put in place from the financial crisis that hit last September.

While I am not an economist, I do see what typically happens upon the announcement from these Fed meetings, higher mortgage rate, at least for a short term.

When I get the announcement from today's meeting, I will get the word out to you all.

Thanks,

Chuck

1 comment • Chuck Cornwell • September 23 2009 07:30AM