confoundedinterest17[1] Agency MBS[2], Banking[3], China[4], Economy[5], Fed[6], Freddie Mac[7], Housing[8], Mortgage[9], Powell[10], Swaps[11], Treasuries[12], Treasury[13], Uncategorized[14], Wages[15] 1 Minute
While the US Treasury 10-year has just hit modern history lows, the Freddie Mac 30-year survey rate is CLOSE to its all-time low rate!!
Meanwhile, former Minneapolis Fed President Narayana Kocherlakota is calling for The Fed to cut rates immediately!
The Fed’s rate-setting Federal Open Market Committee holds its next meeting on March 17-18. I don’t think that the FOMC should wait that long to deal with this clear and pressing danger. I would urge an immediate cut of at least 25 basis points and arguably 50 basis points. That’s a cheap insurance policy for the economy that the Fed shouldn’t pass up.
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