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Michael Task

Michael Task

Branch Manager
Movement Mortgage
NMLS ID # 314948
10814 Jollyvillle Rd, Ste 180, Austin, TX 78759
Dial Phone Number
p: (512) 350-3660
o: (512) 746-7855
f: (512) 669-5134
Send E-mail to
e: michael.task@movement.com

Why a 0.5% Fed Rate Cut Could Happen in September

By: Movement Staff
August 9, 2024
Last week’s employment report caused a brief panic in the markets, but this week’s lighter economic calendar allowed some of that tension to ease. By Thursday, 10-year Treasury yields had retraced back to 4.00%. However, there’s still concern that the Federal Reserve may be waiting too long to ease monetary policy, which could lead to more volatility in the coming weeks.

Two key inflation readings are expected next week, along with Retail Sales and housing data. These reports could provide more clarity on the Fed’s next move. While most don’t expect an emergency rate cut before the scheduled September meeting, a 50 basis point cut in September is possible if inflation continues to decline and the economy shows signs of rapid slowing.

Next week’s data releases will be essential to watch for signs of where the market might be headed, especially for those keeping a close eye on interest rates and the housing market’s direction. Work closely with your loan officer about the best time to lock in a rate for you and your qualified clients. While many are anticipating a downward trend, there is volatility expected.
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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Michael Task
Michael Task
Branch Manager