Fed Monetary Policy: No Rate Increase in June

According to its post-meeting statement issued Wednesday, the Federal Open Market Committee of the Federal Reserve voted not to increase its target federal funds rate. The target federal funds rate will remain at 0.250 to 0.50 percent.

Based on review of current and anticipated financial and economic events, the Committee cited slowing job growth and momentum of inflation-based compensation as reasons supporting its decision. While the national unemployment rate recently fell to 4.70 percent, FOMC members saw room for growth in employment. Unemployment rates are calculated based on active workforce members and do not include those who are under-employed or who have left the workforce. Global influences on the Fed’s monetary policy include uncertainties about China’s economy and the possibility that the United Kingdom may exit the European Union.

Housing markets and household spending improved, but the Fed cited lagging business investment and dismal jobs growth as concerns that led to a unanimous decision not to raise the federal funds rate.

Analysts characterized FOMC members as being “dovish” as compared to previous meetings. Only one member expected a single rate increase this year at the April meeting, but six members expected only one rate increase at June’s meeting.

In a post-statement press conference, Fed Chair Janet Yellen said that while a rate increase is possible at FOMC’s July meeting, she noted that there is no post-meeting press conference scheduled, which would make it more difficult for the Fed to explain its decision. Analysts also said that a rate increase is unlikely in September in advance of national elections in November.

Inflation remains below the Fed’s goal of two percent and is expected to do so for the short to medium term.

Fed Chair Cites Changing Economic Conditions, Forecasts Incremental Rate Hikes

Fed Chair Janet Yellen said during her post-meeting press conference that current economic conditions indicate that gradual rate hikes are needed to ensure ongoing economic growth. Rate hikes, when and if they occur, would increase very slowly and are expected to remain “accommodative.”

Clair Yellen said that each FOMC meeting is “live,” which means that meeting agendas and actions can flex according to current developments that influence monetary policy. The FOMC has repeatedly said that its decision-making is primarily based on members’ constant evaluation of developments affecting domestic and global economies.

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818 S 122nd Lane Avondale, AZ 85323

$459,900

4 Beds

3 Baths

1,914 SqFt

Status Active

MLS # 6694740

Property Type Single Family Residence

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Stunning meticulously maintained golf course lot offers 4 bedrooms 3 baths, plus an office. Dive into relaxation with a sparkling swimming pool and spa, while enjoying the elegance of shaker cabinets, 42 inches tall, and newer shutters throughout. All appliances included for your convenience.

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15553 W Ventura Street Surprise, AZ 85379

$459,900

4 Beds

2.5 Baths

1,961 SqFt

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MLS # 6700259

Property Type Single Family Residence

Price Type --

Perfect move in ready home waiting for you to call it HOME SWEET HOME! Open floor plan with modern yet warm tones throughout. Upgrades galore! Open great room at the entry leading you into the modern kitchen built for the chef of the home! The kitchen has a large island, beautiful backsplash and stainless steel appliances! Loads of natural lighting throughout the house. Low maintenance yard in the front and back to enjoy all of your desert days and nights! This home is truly ready for move in!

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10436 E Peralta Canyon Drive Gold Canyon, AZ 85118

$459,900

3 Beds

2 Baths

2,203 SqFt

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MLS # 6696727

Property Type Single Family Residence

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INTEREST RATES GOT YOU DOWN? THIS IS THE HOME FOR YOU!! SELLER OFFER 2:1 INTEREST RATE BUY DOWN W/ FULL PRICE OFFER. *** Ask your Agent for Details on the Savings *** Discover the ideal home in the serene Peralta Preserve community, offering a rare combination of comfort and affordability. This welcoming single-story house boasts 3 bedrooms, 2 bathrooms, and spans a spacious 2,203 square feet. Recent updates include new flooring and fresh paint, creating a move-in-ready space that feels brand new. The home features a two-car garage, and the HVAC system is only four years old, ensuring year-round comfort. The layout includes large formal living and dining rooms with vaulted ceilings that enhance the sense of space, alongside a cozy family room complete with a gas fireplace perfect for relaxing evenings. Step outside to enjoy a covered patio and low-maintenance desert landscaping, all set against the backdrop of stunning mountain views. The community's gated entrance adds an extra layer of security and exclusivity. Best Value in the area priced at $208/sf, this property represents a fantastic opportunity to live in a beautiful natural desert setting without sacrificing convenience or budget. Whether you're entertaining guests or enjoying a quiet moment, this home offers both functionality and a touch of elegance. Don't miss out on this great value in a picturesque gated community!

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1620 N San Marcos De Niza Drive Sierra Vista, AZ 85635

$459,900

3 Beds

2 Baths

2,048 SqFt

Status Active

MLS # 6698898

Property Type Single Family Residence

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Wonderful home in the desirable Ranchos Carmela Estates subdivision! Amazing natural light welcomes you into this home. A must-see kitchen, opened to the dinning room and living room. The primary bedroom has a walk-in closet, bathroom with double sinks and a stunning shower — check out those views from your bay window! Adjacent to the laundry room, there is a large room with a whole wall with built-in cabinets — never run out of space! The other rooms are located on the other side of the house, allowing you some extra privacy! Enjoy quiet evenings before the fireplace or relaxing on your new incredible hot tub, complemented with a struggle free cover — you can open and close it almost single-handed! Save on your electric bill with the solar system fully paid off! See this home today!

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