FOMC Meeting Minutes: Why Fed’s Rate Policy Reversed Course

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After raising the target range for the federal funds rate in 2018, the Fed's Federal Open Market Committee did not raise the Central Bank's key interest rate at its meeting of January 29 and 30. While Committee members did not raise the Fed's key rate, members were divided on the interest rate decision. FOMC Members Divided On Interest Rate Decision Minutes of January's FOMC meeting indicated that member viewpoints varied about how the Fed should deal with the Fed's target interest rate range. One group said that interest rate increases may be necessary if inflation increases above the Federal Reserve's…
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Case-Shiller: Home Prices Lower in November

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Home price growth continued to struggle in November, with Case-Shiller's 20-City Home Price Index moving from October's reading of 5.30 percent annual growth to 5.20 percent growth in November. This was the lowest reading since January 2015. Las Vegas, Nevada remained first in home price growth rate with a year-over-year home prices growth of 12 percent. Phoenix, Arizona's year-over-year home price growth rate was 8.10 percent and Seattle, Washington held third place with a year-over-year home price growth rate of 6.30 percent. Las Vegas' large year-over-year growth in home prices was attributed to the city's ongoing recovery from the recession…
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NAHB: Home Builder Confidence Grows After Lowest Level in 3 Years

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After two months of declining builder confidence, the National Association of Home Builders Housing Market Index gained two points in January with a reading of 58. Component readings of the HMI were also higher with builder confidence in current market conditions rose two points to an index reading of 63. Builder confidence in housing market conditions over the next six months rose three points to 64. The index for buyer traffic in new housing developments rose one point to 44. While index readings above 50 indicate positive market conditions, the index reading for buyer traffic is typically lower than 50.…
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