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.
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).
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.