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Moody's Talks - Inside Economics
Fed's 50 and Our Forecast
Sep 20, 2024
Martin Wurm, Director of Economic Research at Moody’s Analytics, shares insights on the Fed's unexpected 50 basis point rate cut. He discusses the balancing act the Fed must perform between inflation and employment. The conversation dives into the impact of these cuts on the housing market, revealing a surge in mortgage applications. Wurm emphasizes the importance of the Fed's independence amidst political influences, while the team plays a fun statistics game, unraveling the mysteries behind a striking 14.2% figure linked to the economy.
01:10:36
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Quick takeaways
- The Fed's recent 50 basis point rate cut signals a shift towards stimulating economic growth amid declining inflation rates.
- The housing market and mortgage rates are expected to respond positively to the Fed's dovish policy adjustments following the rate cut.
Deep dives
Federal Reserve's Recent Rate Cut
The Federal Reserve recently cut interest rates by 50 basis points, bringing the target range for the federal funds rate down to 4.75% to 5.00%. This decision marks a significant shift after the Fed had raised rates aggressively to combat inflation since early 2022. The timing of the cut was driven by several economic indicators that suggested a need to stimulate growth, particularly as inflation has been declining and is now approaching the 2% target. Market reactions showed a positive response, indicating that many investors and analysts welcomed this dovish shift in policy.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode