FHFA reports home prices stable in November
23 minutes ago
The Federal Housing Finance Agency (FHFA) said Tuesday that home prices rose 0.3% in November compared to the previous month, the same rate of increase as in October.
The home price index rose 6.6% year over year, still above the historical average but lower than the 8.2% increase in home prices that occurred in the market from November 2021 to November 2022.
IMF predicts soft landing for global economy
35 minutes ago
A resilient U.S. economy could put the global economy on a soft landing over the next two years.
This is according to the International Monetary Fund, which updated its global economic outlook on Thursday. The financial institution improved its global growth forecast for 2024 by 0.2 percentage points to 3.1%. The IMF forecasts next year’s global growth rate to be 3.2%.
The IMF said the more optimistic outlook was due in part to the U.S. economy’s “better-than-expected resilience.” He also noted the health of several large emerging markets and developing countries, and recent actions to strengthen China’s economy.
“The near-term challenge for policymakers is to successfully manage the fall in inflation to its ultimate target, adjust monetary policy in line with underlying inflation trends, and ensure that wage and price pressures clearly dissipate. “If there is a decline in the economy, then adjust to a more accommodative stance,” the IMF wrote. .
Setting the stage for tomorrow’s Federal Reserve decision
49 minutes ago
Today marks the beginning of the first two-day Federal Open Market Committee (FOMC) meeting of the year.
FOMC meetings are held at the Federal Reserve’s Martin Building. Participants sit around a huge square table, with Federal Reserve Chairman Jerome Powell presiding from the center on one side.
It’s a large family: the chairman, six other members of the Fed’s board of directors, and 11 presidents of regional Fed banks across the country. Only her five bank presidents can vote in a given meeting, but the remaining bank presidents can still participate in the meeting and influence the outcome by speaking.
And a small army of staffers stand around the perimeter of the room, waiting to be called upon to give detailed presentations on economic data and analysis.
The conference will be long and will be held in two sessions, starting at noon on Tuesday and ending around noon on Wednesday, just in time for the announcements at 2 p.m.
Click here to learn more about these secret but important meetings.