Fed Holds Movement On Short-Term Rate Hike In September

Wrapping up its two-day meeting, the US Federal Reserve has decided to leave short-term interest rates unchanged, though policymakers did imply plans to raise rates before the end of the year.

The lack of movement underscored central bankers' sense of urgency in providing economic stimulus, the Wall Street Journal reports, particularly with inflation rates hovering below 2% and unemployment remaining around 5%.

Financial markets were unsurprised by the Fed's decision, and investors took to relief buying before the market closed. Before the statement hit, the Dow Jones was up 27 points, or 4%, while the S&P 500 was up 10 points, or 5%. Crude oil is up 2.6% to $45.20 a barrel and the dollar was down 0.3% compared to the euro. [WSJ]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Treasury Introduces Rule Blocking Big Investors From Bulk-Buying Homes

'Illegitimate' Or 'Leveling The Playing Field'?: Why Habitability Cases Are Surging In Eviction Court

Walker & Dunlop Execs On Dealmaking Volatility, Data Center Risks, Housing

Hines Closes $591M Multifamily DST Offering

Kroger Plans 3 New Store Formats, 110 New Locations In Bid To Boost Sales

CBRE Leans On Data Center Business As Higher Rates Squeeze Capital Markets

Blackstone Writes Down Real Estate Values But Remains Bullish On Data Centers

Debt Flood Shrinks Bank OZK's Real Estate Book Faster Than Planned

The Governor Races And Referendums Where Housing Is On The Ballot

Trump: Data Centers 'Mandated' To Supply Own Electricity, Should Pay 'Dividend' To Communities

Lender Wants Blackstone, Hudson Pacific To Sell Vacant Sun Valley Studio

Making Data Center Construction Supply Chains Smarter