Fed Stays the Course on Easy Money

September 19, 2013
Wall Street Journal 
mortgage lending news

The Federal Reserve on Wednesday announced they have decided to keep their signature easy-money program in place for the time being, after spending months alerting the public that they might begin to pare their $85 billion-a-month bond-buying program at the September policy meeting. Central bank officials cited a more uneven economic climate than they expected and the potential for fiscal discord in Washington. After two days of deliberations, Fed officials decided Wednesday the economy hadn't lived up to their expectations for growth. In fact, they lowered their growth estimates for this year and next—and expressed worry that a jump in long-term interest rates over the past several months could squeeze an already weak upturn. Fed officials voted to keep short-term interest rates near zero, where they have been pinned since late 2008. Most officials indicated in their latest economic projections they expect to make the first rate increase in 2015 or later.

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