Fed Official Warns Iran Deal Won't Quickly Lower Mortgage Rates
Former Fed Vice Chairman Roger Ferguson suggests that a reported peace deal with Iran and falling oil prices won’t immediately lower mortgage rates due to persistently high core inflation. With housing starts down 15% in May and consumer sentiment at a 12-month low, the new Federal Reserve Chair Kevin Warsh is expected to maintain rate hike expectations.
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Topics: Federal Reserve inflation interest rates mortgage rates oil prices