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Chris Phillips

Branch Leader
Movement Mortgage
NMLS ID # 1927505

Inflation Trends Towards Fed Target: Potential Rate Cuts Ahead

By: Movement Staff
June 14, 2024
This week, two key inflation indicators showed lower-than-anticipated increases, suggesting that inflation is trending towards the Federal Reserve's target. The Core Consumer Price Index (CPI) rose by 0.2% month-over-month (0.16% unrounded), which was below the expected 0.3%. Similarly, the Core Producer Price Index (PPI) remained flat month-over-month, against an expectation of a 0.3% increase. Bond yields responded by dropping, with the 10-year Treasury yield falling by 25 basis points.

During their scheduled meeting this week, the Federal Reserve left rates unchanged, indicating the possibility of one to two rate cuts later this year if inflation continues to improve. Upcoming inflation and employment reports will be crucial in determining future rate decisions.

Stay updated with our market insights as we monitor these developments and their potential impact on mortgage rates and the broader economy.
Author: Movement Staff

The Market Update is a weekly commentary compiled by a group of Movement Mortgage capital markets analysts with decades of combined expertise in the financial field. Movement's staff helps take complicated economic topics and turn them into a useful, easy to understand analysis to help you make the best decisions for your financial future.

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Chris Phillips
Branch Leader
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5651 Whitesville Rd, Ste 105, Columbus, GA 31904
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NMLS # 1927505

State License #AL-75004, GA-71213, NC-I-218025