Fed could raise rates this month: Yellen

Chair points to higher employment, inflation

TRD MIAMI /
Mar.March 04, 2017 09:00 AM

Janet Yellen (Credit: Getty Images)

From the New York site: The Federal Reserve is increasingly likely to raise short-term interest rates at its March meeting, comments by Fed chair Janet Yellen indicate.

“Indeed, at our meeting later this month, the Committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal funds rate would likely be appropriate,” Yellen said Friday in Chicago, the Wall Street Journal reports.

The Federal Reserve’s decision-making body, the Federal Open Market Committee, is set to meet on March 14 and 15. The potential for more government spending under the Trump administration and an improving economy make another interest rate hike more likely. The Fed last raised rates in December.

“The economy has essentially met the employment portion of our mandate and inflation is moving closer to our 2% objective,” Yellen said in her speech at the Executives’ Club.

The real estate industry has been paying close attention to the Fed’s moves because short-term interest rates tend to lead to higher mortgage rates and put downward pressure on cap rates. [WSJ]Konrad Putzier


Related Articles

arrow_forward_ios
Daily Digest Miami

Target could be coming to North Beach, Related and Atlantic Pacific head to Miami board: Daily digest

Rendering of the Brickell hotel development, Tony Cho and Robert Finvarb

Finvarb and Cho land construction loan for mixed-use hotel near Brickell City Centre

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Neiman Marcus CEO Geoffroy Van Raemdonck (Credit: Getty Images)

Struggling Neiman Marcus scores loan from Credit Suisse for Coral Gables store

Developers land $74.5M loan for condo construction project at Ocean Reef Club

Ceiba Groupe's Managing Principal Adam Bedzow and a rendering of Suede Downtown Davie

Ceiba Groupe nabs $46M loan for Downtown Davie project

JW Marriott Miami Turnberry Resort & Spa with Jeffrey Soffer, and a rendering of the Shore Club with Ziel Feldman

Jeffrey Soffer’s Turnberry Isle, HFZ’s Shore Club hotel close refinancings

From left: Alirio Torrealba, Robert Barthelmess and Kenneth Baboun with Biltmore Parc

Biltmore Parc developer scores condo inventory loan for unsold units

arrow_forward_ios