A 0.25% Cut Could Be Coming At The July Fed Meeting
The latest report from CME's FedWatch tool indicates that there could be rate cut at the next Federal Reserve meeting. As the meeting draws near, mortgage professionals are keeping a close eye on how it will affect the industry.
"An unlikely voice weighed in on Monday advocating for the bigger cut: Judy Shelton, President Donald Trump’s intended nominee for the Fed's Board of Governors, whose members vote on monetary policy as part of the FOMC," according to HousingWire.
Shelton said that she would be in favor of a larger cut and that she would have voted for a 50-basis-point cut in the June meeting, according to the report.
"It’s unusual for nominees – or in this case, a potential nominee – to weigh in on central bank policy decisions, and for Shelton in particular it’s an unlikely position to take because she was so critical about the Fed’s decision to cut interest rates to near-zero in 2008 as the housing crash pushed the U.S. financial system toward the edge of collapse," according to HousingWire.
To learn more about the potential rate cut at the next Federal Reserve meeting, click on the image above.