Your Palm Springs Realtors here, dropping by to give you the latest dish on what’s happening across the country in the real estate market today.
(photo by jenn_jenn)
With the economy seemingly on its way up, Federal Reserve policymakers will be reviewing consumer lending programs to see if they should be extended. Fed Chairman Ben Bernanke along with his colleagues began a meeting Tuesday afternoon that will continue for two days. During this time, they will sort through economic data and information to determine how business and consumers are holding up financially nationwide.
While some unwanted changes may occur during the remainder of this recession, some policies are to remain in effect for an extended amount of time. The Fed is predicted to hold an important bank lending rate at its record low, near zero. Additionally, the central bank is expected to renew an agreement to hold the rate at its current rate as well. The average interest rate range is predicted to be between zero and 0.25 percent through the rest of this year.
This rate is being implemented with the rationale that extremely low lending will urge Americans to spend more, which would in turn support the economy. Other programs will be reviewed on a case by case basis and decisions will be made on whether or not the programs will continue, and for how long.
Interested in buying or selling property in the Palm Springs area? Contact Patrick Stewart Properties today.
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