Financial market volatility to prompt one more Fed rate cut in early 2008
Our assessment that financial market volatility will persist into early 2008 as the housing market meltdown continues suggests that investors and lenders will remain cautious and risk averse, which could limit credit availability and dampen borrowing activity.
Against this backdrop, we have revised our forecast and now expect that the Federal Reserve will cut the Fed funds rate by 25 basis points in the first quarter of 2008 to ensure that credit markets continue to function and that rates remain low enough to sustain borrowing by households and businesses.
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Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
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