There is no way the Fed will cut rates this year.
What none of your clueless financial press writers have thought about--- you'll only get these outside the box insights from the savant--- 2021 and 2022 existing home sales were both the highest years since 2006.
Now... all of those mortgages are at elevated interest rates, so if the Fed cuts rates, and the 30 year fixed rate mortgage drops in solidarity, you will see a wave of re-financing activity... and THAT pumps more cash into the economy because homeowners will naturally spend those extra dollars saved on their monthly payments. This will further boost inflationary pressures... soooo... Powell is not cutting rates in Q3 despite what the experts are saying.
