Chairman Powell highlighted concerns over low hiring rates and the potential for increasing layoffs to elevate the unemployment rate swiftly. The Fed maintained the target unemployment rate at 4.3%, allowing market flexibility should labor conditions worsen. The article also notes the vulnerability of the housing sector as mortgage rates rise, impacting construction jobs. Despite a lackluster Fed meeting, Powell acknowledged a stabilization in housing but predicted potential regression due to higher rates. The upcoming labor data reports could further inform market conditions.
One talking point today was when Chairman Powell discussed the low hire rate, noting that increasing layoffs could push the unemployment rate higher more quickly.
Overall, it wasn't a very exciting Fed meeting or press event, but it touched on some of the key points for the housing market.
Collection
[
|
...
]