By Keith Griffith | realtor.com
Federal Reserve policymakers discussed the risk of a “substantial deterioration” in the housing market during their latest meeting to set interest rate policy, according to newly released minutes.
During the September meeting, members of the Federal Open Markets Committee (FOMC) voted 11-1 for a quarter-point rate cut, with newly appointed Gov. Stephen Miran as the lone dissenter, instead calling for a larger half-point cut.
Minutes from the meeting released on Wednesday show that Fed Chair Jerome Powell and other members of the panel discussed a wide range of economic factors as they considered appropriate rate policy, including ongoing issues in the housing market.
