LendingTree Fed Rate Forecast: Chief Economist Predicts a Pause at June 27 – 28 Meeting
CHARLOTTE, N.C., June 21, 2007 – The next Federal Open Market Committee (FOMC) meeting will take place on Wednesday, June 27 and Thursday, June 28. LendingTree Chief Economist Jim Svinth forecasts the eighth straight pause in interest rate hikes.
“The Fed is stuck in neutral and will likely keep the Fed Funds target at 5.25% at their next meeting,” says Mr. Svinth. “The two driving variables right now are the domestic housing market and global inflation risk. The FOMC will continue to watch both of these indicators closely to see which one tips the scale before a rate change is made.”
The Federal Reserve pause campaign has lasted nearly one year dating back to August 8, 2006.
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, credit cards and high-yield savings accounts via www.lendingtree.com and 800-555-TREE.
Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC also owns and operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, and HomeLoanCenter.com. LendingTree, LLC is an operating company of IAC (NASDAQ: IACI).