Skip to main content. Skip to contact links. Skip to navigation. If you wish for the loan officer to reach out to you, click to skip to their contact form. If you have questions for this loan officer, click to call them. If you need loan servicing, click to call our loan servicing department at 855-979-1084 Skip to footer navigation.
Rachel Geraci headshot

Rachel Geraci

Loan Officer
Movement Mortgage
NMLS ID # 715876
28 Trinity St, Ste 1, Newton, NJ 7860
p: (845) 313-9876
e: rachel.geraci@movement.com

The Fed believes the economy hasn't cooled as expected

By: Movement Staff
August 25, 2023

It has been a relatively quiet week in terms of economic data. The market is gradually warming up to the idea of another Fed rate hike before the year's end, with Fed Futures prices indicating a 40% chance as of Tuesday. PMI figures earlier this week were weaker than anticipated in both Europe and the United States, signaling the possibility of an economic contraction on the horizon. However, shortly thereafter, Initial Jobless Claims were released, displaying yet another soft figure, which in turn signals a labor market continues to be strong.

The focal point of this week was Jerome Powell's speech Friday morning at the Jackson Hole symposium. The Federal Reserve Chair believes the economy hasn’t cooled as expected. He stated, “We are prepared to raise rates further if appropriate and intend to hold policy at a restrictive level until we are confident that inflation is moving sustainably down toward our objective.”

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.

RELATED

Rachel Geraci headshot
Rachel Geraci
Loan Officer
Wondering how much home you can afford? Let’s talk about your next move!
28 Trinity St, Ste 1, Newton, NJ 7860
NMLS # 715876

State License #NJ, NY Licensed Mortgage Banker-NYS Department of Financial Services, PA-59971