LendingTree Fed Rate Forecast: Chief Economist Predicts a Pause at January 30 Meeting
CHARLOTTE, N.C., January 25, 2007 – The next Federal Open Market Committee meeting will take place on Tuesday, January 30. LendingTree Chief Economist Jim Svinth forecasts the fifth straight pause in rate hikes.
“I forecast no change to the federal funds target rate coming from the January 2007 meeting,” said Mr. Svinth. “Given the continued cross-currents in the economic data, I believe the Fed will continue to stand pat and wait for their past actions to take hold to bring core inflation back into their comfort zone of one to two percent.”
The Federal Reserve paused at the last four meetings – August 8, September 20, October 24 – 25 and December 12– leaving its federal funds rate at 5.25%.
“The message given by the Fed on Tuesday will be another indicator that the economy needs more time for the last 17 straight rate hikes to sink in.”
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 company of IAC (NASDAQ: IACI), which also owns or operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, RealEstate.comsm, Domania®, and iNest Realty, Inc.