LendingTree Fed Rate Forecast: Chief Economist Predicts a Pause at October 24-25 Meeting
CHARLOTTE, N.C., October 19, 2006 – The next Federal Reserve meeting will take place on Tuesday, October 24 and Wednesday, October 25. LendingTree Chief Economist Jim Svinth forecasts another pause in interest rate hikes.
“The economy is slowing, yet still resilient,” says Svinth. “The recently released PPI and CPI data were generally in line with expectations and appear to give the Fed minor comfort that core inflation is abating. Aided by lower interest rates of late, the housing market is managing an orderly correction.”
The Federal Reserve paused at the last two meetings, August 8 and September 20, leaving its federal funds rate at 5.25%.
“At this juncture, with nothing materially changing and with elections coming up, there is no reason for the Fed to make a move in either direction at the October meeting, or for that matter in coming months,” added Svinth.
Note to Editors: Jim Svinth is available for print, radio and broadcast interviews – live or taped.
About LendingTree, LLC
LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 20 million loan requests and $152 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, and credit cards via www.lendingtree.com and 800-555-TREE.
Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC is part of IAC Financial Services and Real Estate, an operating business of IAC/InterActiveCorp (NASDAQ: IACI), which also owns or operates LendingTree Loans, LendingTree Settlement Services, LLC, GetSmart®, RealEstate.com®, Domania®, and iNest®.