Looking to purchase a home?
The central bank left the interest rate unchanged waiting on President Trump's announcement of Jerome Powell as the new Federal Reserve chairman! The economy is strong even in the aftermath of the many recent natural disasters as is shown in our strong job market and economic activity. But there are rumors that there will be a hike in the rate in December. This rate helps determine mortgage & credit card rates, so keep this in mind if you are in the market for purchasing a home.
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References:
Gillespieali, Patrick. CNN Fed leaves interest rates alone and waits for Trump's big decision. Nov 2017. <http://money.cnn.com/2017/11/01/news/economy/federal-reserve-interest-rates/index.html>.
Torre, Craig, Miller, Rich Bloomberg/MSN Trump taps Powell for Fed to overssee economy fraught with risks Nov 2017. <https://www.msn.com/en-us/money/markets/trump-taps-powell-for-fed-to-oversee-economy-fraught-with-risks/>.
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