So much for The Federal Reserve raising rates until it gets inflation to 2%. Yesterday, the left their target rate unchanged. But yesterday, The Fed released their dot project showing their target rate is expected to decline in 2024 and beyond.
![](https://confoundedinterestnet.files.wordpress.com/2023/09/feddotsep23.png?w=1024)
On the housing front, existing-home sales moved lower in August, according to the National Association of REALTORS®. Among the four major U.S. regions, sales improved in the Midwest, were unchanged in the Northeast, and slipped in the South and West. All four regions recorded year-over-year sales declines.
Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – slid 0.7% from July to a seasonally adjusted annual rate of 4.04 million in August. Year-over-year, sales fell 15.3% (down from 4.77 million in August 2022).
![](https://confoundedinterestnet.files.wordpress.com/2023/09/ehsug23.png?w=1024)
Of course now that I read that The Clinton’s see blood in Ukraine and are having the Biden Administration use the Clinton Global Initiative (CGI) be in charge of $25 BILLION on humanitarian relief. After The Clinton’s debacle with Haiti, nothing surprises me anymore.