Tag Archives: Federal Open Market Committee (FOMC)

By an 80-19 vote, Jerome Powell has been confirmed as Chairman of the Federal Reserve Board by the U.S. Senate.

Marking the largest increase in nearly 22 years, the Federal Open Market Committee raised interest rates by 50 basis points to a range of 0.75-1.00% amidst record-high inflation. The Fed will also allow $60 billion in Treasuries and $35 billion in MBS to roll off their balance sheet each month.

The Federal Reserve raised the nominal interest rate on Wednesday, for the first time since 2018, citing factors such as surging inflation and the growing military conflict in Ukraine.

Improvements in both economic conditions and the increased rollout of vaccinations have contributed to the dwindling rate of mortgage delinquencies.