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Ellen M. Roche

Branch Manager
Movement Mortgage
NMLS ID # 46794

The Fed Chair is ‘not confident’ enough has been done to decrease inflation

By: Movement Team
November 10, 2023
A slow week for economic data has meant yields were kept relatively quiet compared to last week’s dramatic fall. Fed Governors on the speaking circuit were the main drivers of yields early in the week as some tried to temper down expectations that the Fed hiking cycle is completed. Minneapolis Fed President Kashkari stressed that they need to see more data before declaring that tightening is completed. 

Yields dipped on Wednesday following a better-than-expected 10-year auction, which was driven by the continuing market narrative that the Fed is likely done with its hiking cycle. However, investors keyed into Fed Chair Powell’s contrasting statements at the IMF conference Thursday afternoon. Powell asserted, “The Federal Open Market Committee is committed to achieving a stance of monetary policy that is sufficiently restrictive to bring inflation down to 2 percent over time; we are not confident that we have achieved such a stance.” 
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Author: Movement Team

About Movement Mortgage
Movement Mortgage exists to love and value people by leading a Movement of Change in its industry, corporate culture, and communities. Funding approximately $30 billion in residential mortgages annually, Movement is the sixth-largest retail mortgage lender in the U.S. Movement is best known for its innovative mortgage process and referable experience, which begins with Upfront Underwriting and a seven-day loan processing goal. The company employs more than 4,000 people, has more than 650 branches in the U.S. and is licensed in 50 states. After funding its balance sheet and investing in future growth, Movement's profits are paid to its primary shareholder, the nonprofit Movement Foundation. To date, Movement Foundation has received more than $360 million of Movement profit to invest in schools, affordable housing, communities, and global outreach. For more information, visit www.movement.com.

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Ellen Roche headshot
Ellen M. Roche
Branch Manager
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NMLS # 46794

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