Interest Rates: affected by unemployment & an election year
Recently I heard someone say, “The Federal Reserve is not partisan, but they are political.” Meaning, they do not act to sway Americans towards a candidate, but they are politically aware. The Feds do not want to be the main topic of national debate this voting season. So, the question is, how will that play into interest rates moving towards November? Will we finally see the cuts that everyone is hoping for?
Jerome Powell and the Fed majority agree that when unemployment reaches “3.9-4.1” they will see it as a sounding alarm to cut rates and avoid recession. The April numbers came in at: 3.9... š¤·āļø
Interest Rate Summary: Mortgage rates remain higher than the most recent lows in December (6.61%). They did take a small dip this month, on May 9th, and currently sit at: 7.1%
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