The Fed Is Sizing Up the Economy: All Quiet on the Western Front
Following the Federal Open Market Committee’s (FOMC) two-day meeting this week, Chairperson Janet Yellen announced the decision to continue gradually raising interest rates, with another 25 basis-point increase to a target rate between 0.75 percent and 1.00 percent. This was a second increase in three months, with expectations of two more hikes later this year.
Yellen was resolute in her statements that any future increases will remain gradual in order to minimize the shock to financial markets. And indeed, the decision was largely anticipated and hence already built into the financial markets’ response. One unanticipated market response was a drop in the value of dollar, which reflected analysts’ disappointment that the FOMC did not suggest more than two rate increases through the end of the year. Remaining on the rate-increase path that was previously suggested indicates that the Fed’s position on the economic outlook is dovish.
Do what do higher rates mean for the housing market? Hear what our Chief Economic Selma Hepp has to say at http://pacunion.us/2mXYXDD
About The Mark Company
The Mark Company is one of the nation’s premier urban residential marketing and sales firms. Founded by Alan Mark in 1997, The Mark Company provides a full range of core consulting services including analytics, design, marketing and sales for urban high-rises and suburban attached properties throughout the Western United States. The firm is a trusted partner to global leaders in residential development and finance, providing buyer-driven sales and marketing strategies that produce industry-leading results. The Mark Company has represented more than 10,000 residences and generated over $5 billion in sales for some of the nation’s most notable and successful developments including The Infinity in San Francisco, Evo in Los Angeles and The Martin in Las Vegas. Current projects include 181 Fremont Residences and The Austin in San Francisco and Cavalleri in Malibu. The Mark Company is a subsidiary of San Francisco-based Pacific Union International, the ninth largest residential real estate brokerage in the U.S. based on 2015 sales volume of $8.22 billion. Pacific Union merged with Los Angeles-based brokerage John Aaroe Group in December 2016. This strategic business collaboration links three of the strongest residential real estate firms on the West Coast, supporting combined 2016 production of $10.1 billion by 1,161 real estate professionals in 38 offices throughout California. The Mark Company benefits from an enriched leadership team, innovative technology and added global reach through its affiliation with Christie’s International. For more information, please visit www.themarkcompany.com.