Real Estate News Brief: Fed’s Economic Plan, Small Business Optimism, Short-Term Rental Surge
Play • 6 min
In this Real Estate News Brief for the week ending June 13th, 2020… the Fed’s plan for the economy, why small businesses are optimistic, and a sudden surge in short-term rental reservations.   We begin with economic news from this past week and word from the Fed that the federal funds rate will probably stay right where it is, at zero, for the next couple of years. Fed Chief Jerome Powell said in a news conference after the mid-year meeting: “We’re not even thinking about raising rates.” He didn’t mention negative rates either which is something that other countries have done. Powell also said the Federal Reserve would use a “full range of tools” to support the economy. That includes the buying of Treasuries and mortgage-backed securities to provide lending liquidity to the market. The Fed’s current balance sheet is about $7 trillion dollars.  
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