LendingTree Fed Rate Forecast: Chief Economist Predicts a Pause at May 9 Meeting
U.S. Newswire, May, 2007
To: STATE EDITORS
Contact: Media, Rebecca Anderson of LendingTree, LLC, 1-704-943- 8019, Rebecca.anderson@lendingtree.com
CHARLOTTE, N.C., May 3 /PRNewswire/ -- The next Federal Open Market Committee (FOMC) meeting will take place on Wednesday, May 9. LendingTree Chief Economist Jim Svinth forecasts the seventh straight pause in interest rate hikes.
"The economy is soft with housing being the biggest drag," said Mr. Svinth. "Still, consumers continue to spend and inflation remains outside the Fed's comfort zone. This combination means the FOMC will likely keep its Fed Funds target at 5.25% during the May 9 meeting."
The Federal Reserve paused at the last six meetings -- August 8, September 20, October 24 - 25, December 12, January 30 - 31, and March 20 -...
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