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Justin Dees

Justin Dees

Loan Officer
Movement Mortgage
NMLS ID # 448762
222 East Carrillo St, Ste 107, Santa Barbara, CA 93101
Dial Phone Number
p: (805) 886-8318
Send E-mail to
e: justin.dees@movement.com

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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Justin Dees
Justin Dees
Loan Officer
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222 East Carrillo St, Ste 107, Santa Barbara, CA 93101
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NMLS # 448762

State License #CA-DFPI448762