The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent.
Recent indicators have been mixed and the adjustment in the housing sector is ongoing. Nevertheless, the economy seems likely to continue to expand at a moderate pace over coming quarters.
Recent readings on core inflation have been somewhat elevated. Although inflation pressures seem likely to moderate over time, the high level of resource utilization has the potential to sustain those pressures.
In these circumstances, the Committee's predominant policy concern remains the risk that inflation will fail to moderate as expected. Future policy adjustments will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.
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The housing market is flat, and sustaining the record levels of the past few years simply can’t be done. What’s happening, at least in my world, is a slow, gradual correction, towards a soft landing.
Yes, a healthy correction is taking place. It's a whole new world! One where Mr. & Mrs. Buyer and Mr. & Mrs. Seller have the pleasure of working “TOGETHER,” towards the eventual goal of a successful transaction! That’s my world, its great to be here. Come and join me!
Please visit us on the web: http://www.arnowitzproperties.com/
Arnowitz & Associates, Taking Over The Market, One Property At A Time...
Wednesday, March 21, 2007
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