Next week, both the House and the Senate will be turning their attention to industry and government response to the ongoing COVID-19 pandemic.
First up, at 10:30 a.m. ET on Tuesday, the House Financial Services Committee [1] will hold a session entitled "Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response [2]." This comes on the heels of the Federal Reserve's Federal Open Market Committee's recent meeting. During that meeting, the Federal Reserve announced that they would maintain their current interest rates, and in fact forecast that interest rates could remain near zero through 2023 [3] in order to offset the impacts of the pandemic and the related economic fallout. You can read the FOMC's full statement here [4].
Later in the week, on Thursday at 10:00 a.m. ET, the Senate Banking Committee will host another hearing entitled “The Quarterly CARES Act Report to Congress." You'll be able to access/view that hearing by clicking this link [5] on Thursday.
Here's what else is happening in The Week Ahead.
- NAR August Existing-Home Sales Report—Tuesday
- FHFA Home Price Index, July 2020 Data—Wednesday
- U.S. Census Bureau, New Residential Sales—Thursday