Sticky Inflation May Keep Rates Higher for Longer

By: Movement Team

May 3, 2024

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Market Update
Sticky Inflation May Keep Rates Higher for Longer

This was a highly anticipated week for economic data, including the Federal Reserve meeting on Wednesday and the monthly employment release this morning. The Federal Reserve acknowledged that inflation is proving to be stickier than expected, and that rates may need to be held higher for longer. They gave no indication that another hike is even being considered, though. The change in non-farm payrolls came in lower than expected this morning, which has been rare lately. The initial reaction has been lower yields. The economic data is lighter next week, although there are several treasury auctions throughout the week.

Author: Movement Team

About Movement Mortgage, LLC (“Movement”)

Movement is not just a mortgage company – they’re an Impact Lender and force for positive change. With more than 4,000 teammates across all 50 states, they reinvest the majority of our proﬁts back into the communities they serve. Movement is the 10th ranked top-producing residential mortgage company in the U.S., funding more than $20 billion in residential mortgages annually. The company has contributed nearly $400 million to the Movement Foundation since 2012, funding the Movement Schools network, affordable housing projects and global outreach efforts. For more information on Movement and Impact Lending, visit movement.com/impactreport .

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